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Athamus Venture, an integrated private-equity fund manager, closed the first round of ₹20 crore into its domestic fund Excedo Realty Fund-I. The amount raised from domestic investors will be used for land buyouts, and to invest in portfolio companies, niche markets and growth cities.
The proposed corpus of the Fund is ₹450 crore; follow-on rounds of funding are envisaged , leading to an overall Fund size of ₹600 crore.
“We intend to raise a second round of ₹300-400 crore in the next 6-9 months. Cities such as Bengaluru, Pune, NCR and new capital region of Andhra Pradesh are primary targets for investments from land acquisition stage up.
Offshore fund“An offshore fund raise of close to $5 million (₹33 crore) from international investors is expected to be closed in the next two months for realty projects abroad, under Bharatam Realty Fund-I,” said Ashok Kinha, founder and CEO, Athamus Venture.
Asked what distinguishes Athamus from its competitors, Kinha said: “The development arm of the company, Autus Developers, will be the preferred developer of the invested land parcels, and will not charge any fee for any project. Developers normally charge a fee for the overall project which is passed on to the customers and investors. This will ensure higher returns to our investors.”
Excedo Realty Fund-I has identified a 10 acres in Whitefield, Bengaluru, and a 20 acres in NCR to develop villas within gated communities. The fund is considering two more residential investments in a 17 acres and 24 acres project area in Whitefield and a farmhouse project in NCR.
Athamus is backed by a team of professionals that have consolidated experience in investing, developing and exiting in more than 5,000 acres of development. Pradeep Varshney (chief investment officer), Gaurav Jain (CFO), Girish Bhagat, Sanjeev Nangia, Neeraj Bhayana are on the investment board, with former entrepreneurs Oindrila Dasgupta and Shayak Sen anchoring Excedo Realty Fund-I.
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