VBHC Value Homes Pvt Ltd, co-founded by former Mphasis chairman Jaithirth Rao and former CITI Bank senior official PS Jayakumar, has announced a strategic minority equity fund raise from Japanese real estate conglomerate Daiwa House Industry Co, making it the first Japanese investment in affordable housing in India.
The Japanese conglomerate is into the developing of residential, commercial and institutional buildings, smart towns, rental housing, stores, logistics facilities and eco-friendly buildings while Bangalore-based VBHC is a leading affordable housing developer in the country, launched with a vision to build one million homes in the urban areas in the next 10 years.
The funds raised would be used for expanding VBHC’s project portfolio. No existing investor has exited in this round of investment.
Equirus Capital acted as exclusive advisors to VBHC for the fund raising.
VBHC follows a manufacturing approach for construction to ensure high quality and rapid construction at lower costs by using standardized/modular apartments design and ‘Form' construction technology. The Company counts Carlyle, IFC, Caspian and StichtingVan Herk as its current investors.