Bengaluru-based Altern Capital has introduced its first real estate fund with a target of Rs 250 crore.

"Trust, Team Quality, and Transparency are the key foundations of Altern Capital. We believe our innovative approach will set new benchmarks in the industry"

Altern Capital, a real estate investment firm from Bengaluru, has launched its first SEBI-approved Category II Alternative Investment Fund (AIF), called the JIRAAF AU INDIA REAL ESTATE FUND - I. 

The fund aims to raise Rs 250 crore, with an extra Rs 100 crore available if needed. It will focus on funding plotted development and completing real estate projects, aiming to reduce risks and ensure projects are finished on time, providing reliable returns for investors.

The fund is backed by AI Growth Private Limited, which operates under the names “JIRAAF & ALTGRAAF.” Navin Dhanuka, founder and CEO of Altern Capital, has over 21 years of experience in real estate investment, having worked with firms like Piramal Capital, Walton Street Capital, and Ernst & Young. 

Dhanuka explained that Altern Capital’s goal is to change real estate investing by using advanced technology to closely monitor investments and deliver strong returns. He stressed the company’s focus on trust, quality, and transparency and believes their innovative approach will set new industry standards.

The fund will invest in plotted development projects in cities such as Bengaluru, Chennai, Hyderabad, and Mysuru, where demand is high and sales are fast. It will also provide last-mile funding in Bengaluru, Mumbai, Pune, and Chennai. 

What sets this fund apart is its shorter four-year duration, compared to the usual six-year period in the industry. This shorter term is intended to ensure projects are completed sooner and returns are visible more quickly. The fund’s use of advanced technology for monitoring investments is expected to improve returns while managing risks.