BackTriVeda Capital launches $500 million real estate platform
Firm says it is seeking to deploy capital in middle-class residential projects
Premium(Mint)
Mumbai: TriVeda Capital on Monday said it had launched a $500 million real estate asset management platform that has five residential and mixed-use Bangalore projects in its portfolio.
The firm said it is seeking to deploy capital in middle-class residential projects. “We are in advanced stages of discussion to acquire a residential land parcel in Bangalore for $20 million, and will soon be identifying a developer to execute the project," said Sachin Garg, vice-president.
TriVeda also said it had so far raised $30 million for a real estate fund that it will launch by the end of this year.
“We have circled the initial investors for this investment vehicle, which shall make structured investments in the Indian real estate space," said Raj S. Inamdar, managing director of TriVeda Capital, without disclosing the total size of the fund.
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