Mt. K Kapital’s Maiden Fund Announces INR 350 Crore Fundraise
Out of the funds raised, 50% will be invested across three -identified redevelopment projects in MMR
Mt. K Kapital has announced the raise of INR 350 CR in the Mt. K Resi Development Fund (Category II SEBI registered Alternative Investment Fund) from anchor investors like SBI, Famy Care, Rustomjee and other HNI’s.
50% of the raised funds are in the process of being committed towards three identified redevelopment projects in the MMR region. These include two projects in Bandra and one in Andheri with sale areas ranging between 0.5 to 1 lac sq. ft each.
The fund aims to invest in 8-10 projects in the MMR region, with a focus on redevelopment with the Rustomjee Group as the Development Partner. Mt. K Resi Development Fund is Mt. K Kapital’s ESG Impact Development Fund that provides the opportunity for investors to participate in the equity returns of real estate projects with a marquee developer. The core team of 9 people led by Binitha Dalal and Abdeali Tambawala comes with over five decades of combined experience across real estate and fund management. Leveraging its unique market advantage of having one of the leading developers in the city as a Development Partner, the firm is very bullish on the MMR region from an investment perspective. The investment committee consists of industry experts and large investors, ensuring the highest level of corporate governance.
ANAROCK Group, India’s leading independent real estate services firm, has been a strong support and partner to the fund on its journey. ANAROCK Capital has played a key role in raising capital for the fund and will continue to work jointly with the team throughout its journey.
Binitha Dalal, Founder and Managing Partner, Mt. K Kapital, stated, “We are delighted to have reached this milestone of raising 350 Cr from investors who are not just industry stalwarts, but also long-term visionaries, who have partnered with us in our journey. We are fortunate to be backed by Rustomjee and our intention is to bring the right kind of capital to the real estate sector in times to come. We are also privileged to have anchors like Famy Care & SBI join us in this journey. The positive response towards the fund only strengthens our belief in building the platform as a differentiator and we hope to reach our goal of being one of the premier real estate fund management companies in the future.”
Boman Irani, Chairman & Managing Director of Rustomjee Group, said, “We are delighted and proud to back Mt. K Kapital, and its foray into the fund management business. Through this fund, we continue to leverage our development expertise in the MMR while partnering towards maximizing value to the investors. This is a new pool of capital that works on the principles of win-win for all stakeholders and partners. In times to come, the platform will grow and create a new pool of capital for the sector.”
J.P. Taparia, Founder and Chairman, Famy Care, “The Mt K Resi Development fund is being led by a highly experienced team and we feel very strongly about the potential that the fund is designed to offer. As investors, we firmly believe that the team has identified and developed the right investment strategy. Through this association, the intent is to create a long-term relationship with the team and continue to grow together. “
Anuj Puri, Chairman ANAROCK Group said, “We are happy to be a part of Mt. K Kapital’s journey. An increasing trend of Real estate AIF’s being favoured by marquee institutional and family office investors as their preferred choice of alternative investment has emerged. Even as Indian real estate continues to demonstrate resilience amidst global growth concerns, new-age real estate AIFs like Mt. K Kapital are being launched with the backing of credible sponsors who are focused on the favourable risk-return ratio of physical assets vis-à-vis other asset classes.”
About Mt. K Kapital:
Mt. K Kapital is a real estate focused fund management company with SEBI approved Category II Alternative Investment Fund license, that will invest in real estate projects across the spectrum. The company’s long-term vision is to become India’s largest real estate fund management platform. Built upon core values of trust, transparency and partnership Mt. K Kapital’s unique business model integrates real estate development and investment expertise enabling them to align, safeguard and optimize investor interests while offering superior returns, making it a unique opportunity for investors to participate directly in the equity returns of real estate projects.
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