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Shivalik Investment Fund Secures INR 150 Cr in First Close of Inaugural Fund The fund is primarily focused on investing in residential, commercial, and plotting projects in Ahmedabad's high-growth areas.

By Entrepreneur Staff

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Chitrak Shah, Founder and Managing Director, Shivalik Group

Gujarat-based Shivalik Investment Fund (SIF), a Category II Alternative Investment Fund (AIF), has achieved the first close of its inaugural fund, securing 50% of its targeted corpus of INR 150 crore. The fund plans to raise an additional INR 150 crore through a green shoe option.

The inaugural fund has attracted significant interest from high-net-worth individuals (HNIs) and family offices, focusing on real estate development in Ahmedabad's high-growth areas. With a primary focus on residential, commercial, and plotting projects, SIF aims to leverage Ahmedabad's evolving infrastructure and rising demand for premium properties.

"Our successful first closure of the fund demonstrates our commitment to leveraging our financial and development expertise to enhance our presence in Ahmedabad and maximise returns for our investors," said Chitrak Shah, Founder and Managing Director, Shivalik Group.

Shivalik Group, known for its real estate developments in Ahmedabad, has already delivered over 75 landmark projects, contributing to more than 15 million square feet of real estate development. The group has also developed over 12 micro markets across Ahmedabad with its projects.

SIF's investment team is currently in advanced discussions on several identified deals.

"Ahmedabad's real estate market is entering a transformative phase, driven by infrastructure development, rising incomes, and increased demand for premium residential and commercial properties. Shivalik Investment Fund is well-positioned to leverage these trends through our professionally managed fund, offering investors an opportunity to be part of Shivalik's growth story," said Piyush Kothari, Executive Director, Shivalik Investment Fund.

Entrepreneur Staff

Entrepreneur Staff

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