Lumos Alternate Investment Advisors partners Gruhas to set up Rs 500 crore realty fund

Lumos Alternate Investment Advisors plans to raise Rs 500 crore for its maiden real estate fund in partnership with Gruhas Proptech.

Lumos Alternate Investment Advisors Pvt Ltd has been founded by Anuranjan Mohnot, former MD and CEO of Amplus Capital Advisors.

Gruhas Proptech, promoted by serial entrepreneur Abhijeet Pai and Zerodha's Co-founder Nikhil Kamath, joins Lumos Alternate Investment Advisors Pvt Ltd as an anchor investor and general partner.

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"The joint venture Gruhas and Lumos is in the process of raising Rs 500 crore for a real estate fund focused on structured debt, last-mile funding, and opportunist equity in real estate projects across major Indian cities," a company statement said.

K K Rathi, founder of FirstBridge Capital Partners LLP and S S Asokan, Ex-Senior Director at Shriram Properties Ltd, have also joined the Gruhas & Lumos board as co-founders.

?Post second wave of COVID, real estate is emerging as one of the most preferred investment avenues and we are happy to have some prominent industry experts and investors on board to help us in institutionalising real estate investment and management processes," Mohnot said.

He said the company was now actively looking at residential-focused last-mile funding and structured equity deals for its prospective fund.

Gruhas Proptech, a venture focused on real estate investments and prop-tech, is spearheaded by promoters of Puzzolana and Zerodha Group.

The Gruhas team comprises Abhijeet Pai, President Puzzolana, and Nikhil Kamath, co-founder of Zerodha.

Puzzolana is the market leader in aggregate crushers in India and Zerodha is a stock broking company offering retail brokerage, currencies and commodities trading, mutual funds, and bonds.