Altern Capital Launches ₹250 Crore Real Estate Fund JIREF I
- ByStartupStory | July 17, 2024
Altern Capital has announced the launch of its maiden SEBI-approved Category II Alternative Investment Fund (AIF), JIRAAF AU INDIA REAL ESTATE FUND — I (JIREF I), with an initial target size of ₹250 crore and an additional greenshoe option of ₹100 crore.
The strategic focus of JIREF I centers on plotted development and last-mile funding within the real estate sector. Notably, the fund aims to mitigate approval and execution risks, deviating from conventional industry practices. JIREF I features a tenor of 4 years, shorter than the typical 6-year horizon, emphasizing early project completion, enhanced visibility, and consistent principal and returns for investors.
Navin Dhanuka, Founder & CEO of Altern Capital, expressed optimism about the fund’s potential impact, stating, “Our goal is to redefine real estate investment by ensuring tech-based stringent investment and post-investment monitoring and delivering exceptional risk-adjusted returns for our investors. We believe our innovative approach will set new benchmarks in the industry.”
The fund is sponsored by AI Growth Private Limited, operating under its brands “JIRAAF & ALTGRAAF”.
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