NEOLIV has announced the initial closing of its SEBI-registered Category II alternative investment fund, 'Inliv Real Estate Fund,' raising over Rs. 300 crore for its maiden fund.
The inaugural residential equity fund has attracted involvement from family offices and prominent UHNWIs nationwide, the company said in a statement.
The funds shall be utilised to develop high quality, middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities in Tier 2 cities.
The company was founded by Mohit Malhotra (Ex MD and CEO of Godrej Properties), leading industry experts and 360 ONE (India’s leading wealth and alternates-focused asset management firm with $50 billion AUM).
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The integrated platform with fund management and in-house development capabilities was launched in January 2023 by Mohit Malhotra who helped grow listed company Godrej Properties over the course of 12 years, the last 06 of which as MD and CEO until December 2022.
Karan Bhagat, founder, MD and CEO of 360 ONE, 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. The roadshows for the fundraise were held in Mumbai, Delhi- NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur and Bangalore.”
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Mohit Malhotra, founder and CEO, NEOLIV said, “With a robust pipeline of projects, we aim to deploy the capital within the next few months and deliver on our promise.”
NEOLIV is a built-in partnership structure. Key management team members, who have joined from reputed real estate development companies like DLF, Godrej, Lodha, Wadhwa, EMAAR, Raymond, Mahindra and Rustomjee, are equity partners in the business demonstrating their long-term commitment, the company said.
The residential sector in India has been on a phenomenal growth trajectory since 2021, following a 10-year downturn marked by significant reform. Yearly home sales are at an all-time high and inventory overhang at an all-time low. This surge underscores the fundamental need for quality housing in all major key cities of India which is expected to last for many years to come as a result of the demographic advantage of the country.
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