Residential actual property platform Neoliv on Thursday introduced that the primary scheme of its Securities and Exchange Board of India (SEBI) registered class II Alternative Investment Fund, ‘Inliv Real Estate Fund’ had accomplished preliminary closing with above ₹300 crore of its maiden fund increase.
Neoliv stated it might obtain its corpus of ₹1,000 crore – ₹1,500 crore forward of its two 12 months restrict.
“The first of its kind residential equity fund has garnered participation from family offices and UHNWI’s (ultra high net worth individuals) across the country,” Neoliv stated, including “funds will be utilised to develop high quality, middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities in Tier 2 cities.”
Unique enterprise mannequin
Founded by Mohit Malhotra, former CEO of Godrej Properties, Neoliv has funding from 360 ONE, a wealth and alternates-focused asset administration agency with greater than $50 billion Asset Under Management (AUM).
The built-in platform with fund administration and in-house growth capabilities started in January 2023.
Karan Bhagat, Founder, MD & CEO, 360 ONE in a press release stated, “We are happy to be the sole manager and advisor for Neoliv’s maiden fundraise, which saw active participation and firm commitments from UHNIs, family offices, CXOs with an appetite for new age professionally driven business opportunities.”
Mr. Malhotra, whereas briefing journalists stated, “With a robust pipeline of projects, we aim to deploy the capital within the next few months and deliver on our promise.”
