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CREDAI-backed Spyre VC Fund slashes target corpus by half for proptech fund

VCCircle

VCCircle · 1y ago

CREDAI-backed Spyre VC Fund slashes target corpus by half for proptech fund

CREDAI and Venture Catalysts have teamed up to launch Spyre Venture Capital Fund, a proptech-focused investment vehicle. The fund, which has received regulatory approval as a category-II alternative investment fund (AIF), aims to tap into the growing real estate market. However, the target corpus for the fund has been slashed by half due to market dynamics. The partnership is expected to drive innovation and investment in the proptech sector in India.

Related News

CREDAI-backed Spyre Fund appoints former Kolte-Patil family office exec

VCCircle

VCCircle · 1y ago

CREDAI-backed Spyre Fund appoints former Kolte-Patil family office exec

Confederation of Real Estate Developers’ Associations of India (CREDAI)-backed Spyre Proptech Fund has hired a former executive from the family office of Kolte-Patil Group. The fund, supported by CREDAI and Venture Catalysts, aims to invest in early-to-growth stage technology-driven real estate startups. The appointment will bring valuable expertise to the team's investments and strategy efforts.

Spyre Launches Maiden INR 400 Cr Fund To Back Proptech Startups

Inc42 · 1y ago

Spyre Launches Maiden INR 400 Cr Fund To Back Proptech Startups

Venture Catalysts and Neovon-backed Spyre PropTech Venture Fund has launched a proptech fund with an initial investment of INR 400 Cr ($54 million). The fund aims to support around 30 startups in the real estate sector, with an average investment size of INR 2-8 Cr for early-stage startups and INR 15-40 Cr for growth-stage Series A and B rounds. The fund has secured an additional INR 400 Cr through a green-shoe option. The initiative has gained support from CREDAI, the apex body of private real estate developers in India.

Spyre PropTech Venture Fund To Launch First Phase Of Rs 400 Crore Proptech Sectoral Fund

OutlookIndia

OutlookIndia · 1y ago

Spyre PropTech Venture Fund To Launch First Phase Of Rs 400 Crore Proptech Sectoral Fund

Spyre PropTech, a venture fund backed by Venture Catalysts and Neovon, is launching a Rs 400 crore fund to invest in the prop tech sector in India. The fund aims to invest in 30 early and growth-stage companies, with ticket sizes ranging from Rs 2 crore to Rs 40 crore. The fund has obtained an AIF Cat II license from SEBI and is supported by CREDAI, the apex body of private real estate developers in India. Spyre's management team brings over three decades of combined experience to the fund.

Spyre Proptech to raise Rs 400 crore in first phase of Rs 800-crore fund to invest in 30 startups

Economic Times

Economic Times · 1y ago

Spyre Proptech to raise Rs 400 crore in first phase of Rs 800-crore fund to invest in 30 startups

Spyre PropTech venture fund, with support from Venture Catalysts and NeoVon, plans to raise INR 400 crore ($53 million) as the first phase of its proptech sectoral fund. The overall fund aims to raise INR 800 crore ($106 million) to invest in over 30 Indian proptech startups. The fund has obtained regulatory approval and intends to invest in early and growth stage companies in the range of INR 2-8 crore ($266,000-$1 million) and INR 15-40 crore ($2-5 million) respectively. The Confederation of Real Estate Developers Associations of India (CREDAI) is backing the venture fund.

Brigade Group partners with Nikhil Kamath's Gruhas to launch new VC fund

VCCircle

VCCircle · 5m ago

Brigade Group partners with Nikhil Kamath's Gruhas to launch new VC fund

Brigade Group has partnered with Nikhil Kamath's Gruhas to launch the Earth Fund, a real estate-focused investment fund targeting Indian proptech and sustainability-driven startups. This Category II alternative investment fund aims for a Rs 200 crore corpus with a Rs 100 crore greenshoe option, focusing on 10-15 pre-Series A and Series A-stage startups. Investment areas include property technology, construction tech, and sustainability sectors like climate tech and clean energy. The fund is backed by Brigade Group and Gruhas.

VC firm Waad Investment launches debut fund with $200 mn target

VCCircle

VCCircle · 1y ago

VC firm Waad Investment launches debut fund with $200 mn target

Saudi Arabian venture capital firm, Waad Investment, has launched its debut fund with a target of $200m. The Riyadh-based firm, backed by a consortium of Gulf-based investors and family offices, will invest in growth-stage tech start-ups in the Gulf Cooperation Council region. The fund will offer mentorship and guidance to start-ups, and will be a major source of investment for the region. Waad Investment's existing portfolio of 23 start-ups includes companies in fintech, AI, F&B, and proptech sectors.

Proptech startup Reloy sees 40% revenue growth to Rs 25 crore this fiscal on strong housing demand

Economic Times

Economic Times · 9m ago

Proptech startup Reloy sees 40% revenue growth to Rs 25 crore this fiscal on strong housing demand

Proptech startup Reloy, backed by HDFC Capital, is projected to achieve a 40% revenue growth to Rs 25 crore this fiscal year due to strong housing demand. Reloy specializes in real estate loyalty and referrals, helping builders manage their brokers and homeowners efficiently. The company has raised Rs 13 crore from investors and offers tech solutions that streamline the post-purchase journey for homeowners. Reloy's clients include prominent builders such as Godrej Properties and DLF. The Proptech market is expected to reach $600 billion by 2047, according to a CREDAI and EY report.

Bharat Innovation Fund to target larger corpus for second VC fund

VCCircle

VCCircle · 1y ago

Bharat Innovation Fund to target larger corpus for second VC fund

Bharat Innovation Fund, a venture capital firm focused on deeptech, is planning to launch its second fund with a larger corpus than its first fund. The firm has previously invested in companies such as Entropik and Nayam Innovations. According to a co-founder of the fund, they are currently in the process of filing for the new fund and are hopeful about securing a higher target corpus.

Early-stage VC firm GrowthCap Ventures marks first close

VCCircle

VCCircle · 1y ago

Early-stage VC firm GrowthCap Ventures marks first close

Early-stage venture capital firm GrowthCap Ventures, founded by Pratekk Agarwaal, has announced the first close of its maiden fund, raising Rs 20 crore ($2.7 million). The fund, which aims to invest in startups across fintech, deeptech, and software-as-a-service (SaaS) sectors, has a target corpus of Rs 50 crore ($6 million). GrowthCap Ventures, with an average ticket size of Rs 2-6 crore, plans to invest in 10-12 startups in the next 20 months. The firm intends to launch a winners fund with an estimated corpus of Rs 250 crore ($34 million).

Micro VC Aora changes tack, investment mandate in new fund

VCCircle

VCCircle · 1y ago

Micro VC Aora changes tack, investment mandate in new fund

Venture capital firm Aora Ventures is shifting its investment strategy with its new fund. The firm, known for its backing of startups across various regions, including South Asia, South East Asia, Europe, and the US, has fully deployed its initial $15 million fund established in 2020. The focus of the new fund will be to target a specific corpus, narrowing its investment scope.

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