Residential real estate platform Neoliv on Thursday announced that the first scheme of its Securities and Exchange Board of India (SEBI) registered category II Alternative Investment Fund, ‘Inliv Real Estate Fund’ had completed initial closing with above ₹300 crore of its maiden fund raise.
Neoliv said it would achieve its corpus of ₹1,000 crore – ₹1,500 crore ahead of its two year limit.
“The first of its kind residential equity fund has garnered participation from family offices and UHNWI’s (ultra high net worth individuals) across the country,” Neoliv said, adding “funds will be utilised to develop high quality, middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities in Tier 2 cities.”
Unique business model
Founded by Mohit Malhotra, former CEO of Godrej Properties, Neoliv has investment from 360 ONE, a wealth and alternates-focused asset management firm with more than $50 billion Asset Under Management (AUM).
The integrated platform with fund management and in-house development capabilities began in January 2023.
Karan Bhagat, Founder, MD & CEO, 360 ONE in a statement said, “We are happy to be the sole manager and advisor for Neoliv’s maiden fundraise, which saw active participation and firm commitments from UHNIs, family offices, CXOs with an appetite for new age professionally driven business opportunities.”
Mr. Malhotra, while briefing journalists said, “With a robust pipeline of projects, we aim to deploy the capital within the next few months and deliver on our promise.”
