IndoSpace Logistics Parks IV Raises $150 Million in Funding Led by Qatar Investment Authority and Grosvenor
- ByStartupStory | September 5, 2023
IndoSpace Logistics Parks IV (ILP IV), a logistics and warehousing company, has successfully completed its second round of fundraising, securing an additional $150 million in investments. The funding round was led by the Qatar Investment Authority (QIA) and UK-based Grosvenor’s Diversified Property Investments business. With this additional investment, ILP IV’s total fund size now stands at $393 million, following the initial close of $243 million.
IndoSpace plans to expand its portfolio by adding 25-30 million square feet of assets in India’s logistics real estate markets, including cities like Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. ILP IV follows the first three development funds, which collectively encompass 58 million square feet of logistics real estate in India, covering completed and ongoing projects.
In January, the Canada Pension Plan Investment Board (CPPIB) had invested $205 million as an anchor investor in ILP IV, which aims to secure a total of $600 million in equity commitments. CPPIB had also invested in ILP III. IndoSpace operates a nationwide network of 50 logistics parks across 10 cities, with a total of 56 million square feet under various stages of development.
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