Triveda Capital, a SEBI-registered alternative investment fund, has secured INR 80 crore in its first close, with a total target of INR 250 crore. Led by Ranjan Pai, Chairman of the Manipal Education and Medical Group, the fund aims to manage USD 1 billion in assets over the next five years. Triveda Capital plans to invest in plotted development projects, with a focus on South Indian metropolitan areas. The fund, which has a five-year tenure, targets an internal rate of return of 18%-21%. Its first investment is a 30-acre project near the airport, marking its strategic entry into the sector.
Triveda Capital, a SEBI-registered alternative investment fund (AIF), has made a significant stride by securing its first close at INR 80 crore, according to Ravindra Pai, Managing Director of Century Real Estate Holdings and a partner in this newly launched fund. Ranjan Pai, Chairman of the Manipal Education and Medical Group, led this initial round of investment, positioning the fund on a solid path towards its INR 250 crore target.
The fund's ambitious goal is to manage assets worth USD 1 billion over the next five years. Notably, Century Real Estate Holdings' family office has committed 15% of the total fund size, reflecting strong internal confidence in the fund's strategic direction. Ravindra Pai said that they had identified the first investment of a 30-acre plotted development project near the airport. He stated that they would invest in in-house under-construction and third-party plotted development projects, focussing on opportunities that promise high returns.
Triveda Capital is in the process of raising INR 200 crore for its AIF, with an additional INR 50 crore green shoe option, specifically targeting plotted development projects. The fund's investment strategy involves allocating between INR 15 crore and INR 50 crore per project, with an expected internal rate of return (IRR) of 18% to 21% over a three-year project life cycle. This approach reflects the fund's commitment to achieving strong financial returns while reducing risks through diversified investments.
With a five-year tenure, the fund aligns its investment strategy with its long-term goals of maximising returns. It focusses on plotted development and residential assets in key metropolitan areas of South India, including Bengaluru, Hyderabad, and Chennai. The fund's strategic emphasis on these high-potential markets positions it to capitalise on the growing demand for residential and commercial spaces in these regions.
The fund's long-term vision, backed by a solid initial close and a strategic investment plan, reflects its confidence in the rapidly evolving real estate landscape. Triveda Capital is well-positioned to achieve its ambitious goals, leveraging its expertise and market insights to deliver strong returns over the coming years.
TriVeda Capital, a cutting-edge real estate investment platform, emerged from the expertise of industry veterans with over four decades in real estate investments, development, and execution. Founded by Ravindra Pai and Raj S. Inamdar, the visionary behind Sorani Capital LLC, TriVeda Capital operates across Bengaluru and the US, offering a diverse range of investment opportunities to Indian investors, funds, non-resident Indians (NRIs), and global investors.
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