Lodha Group launches start-up investment fund
Lodha Developers Pvt. Ltd, the country’s largest real estate developer in terms of sales, has launched its maiden investment fund for start-ups focussed on smart city solutions and the overall real estate sector.
With an initial investment corpus of ₹50 crore, the company will not only provide angel funding and venture capital, but also business opportunities, industry contacts and mentorship.
The fund will invest in start-ups at all stages of the development cycle, including early-stage ventures focussed on creating value in the real estate and smart city space in India.
Lodha Developers managing director Abhishek Lodha said,
“our fund’s philosophy is in line with Prime Minister Narendra Modi’s three core campaigns—Startup India, Housing for All and demonetisation. The real estate sector is unarguably an important sector for India’s economy, being the second- largest employer in the country after agriculture. As India ushers in a new era on the back of path-breaking policy changes such as demonetisation, Real Estate (Regulation and Development) Act and GST, the sector too will reap benefits in the long run…Our fund will address the prevailing inefficiencies in the sector with the use of technology and smart solutions.”
The company is currently developing around 4.1 crore sq ft of prime residential real estate globally, with the largest land reserves in the Mumbai Metropolitan Region and has 31 ongoing projects across London, Mumbai, Pune and Hyderabad.
With offices in London, Dubai and Shanghai and planned openings in the US and Singapore, Lodha Group is on the road to a substantial international presence.