New Delhi, July 23 -- Kumar Vibe Properties, a 50:50 joint venture between Kumar Properties & Infrastructure and Vibe Realty, has raised Rs 115 crore (around $13.3 million) from public listed financial services firm Nisus Finance, the developer said in a statement.
The funds will be used across three projects located in Mumbai and Pune.
"With this funding, we are not just securing financial closure but also setting the stage for transformative developments that will shape... our positioning in these prominent markets," said Gopal Sarda, founder and Chief Executive Officer, Vibe Realty Private Limited.
"Our investment in Kumar-Vibe JV aligns with our investment philosophy because of its strategic project locations," said Avadhoot Sarwate, Director and Chief Investment Officer, Nisus Finance Services Co Limited.
Incorporated in September 2022, Vibe Realty develops residential, commercial, and mixed-use projects in Mumbai, Pune and the rest of Maharashtra.
Nisus Finance (NiFCO), which went public in December 2024, expects to raise its assets under management (AUM) to about $1 billion in the next three years, a top company executive had told VCCircle late last year.
The listed entity offers products and services through its special situations fund (SSF), its operations in Dubai and a rental yield platform that is expected to be launched.
Its successor special situations fund (SSF) - Real Estate Special Opportunities II - is expected to raise $200 million from a feeder vehicle based in Mauritius. The maiden SSF managed to raise Rs 700 crore from domestic investors and $100 million from a feeder vehicle in Singapore.
NiFCO expects overall investment opportunity for the platform to be roughly Rs 3,000 crore.
Published by HT Digital Content Services with permission from VC Circle.