Mt. K Kapital, a real estate-focused investment platform, intends to establish its second fund with a target corpus of approximately Rs 2,500 crore to finance housing projects in key urban areas. Mt. K Kapital is a Mumbai-based real estate focused fund management company with SEBI approved Category II Alternative Investment Fund (AIF) license.
“Our first fund closed at a total corpus of Rs 790 crore. We have invested nearly 50 percent of this fund across five projects,” Mt. K Kapital Founder and Managing Director Binitha Dalal told .
These five projects, with a total developable area of 7 lakh square feet, are located in Mumbai Metropolitan Region (MMR) and are being developed by Keystone Realtors Ltd that operates under the ‘Rustomjee’ brand.
“We intend on committing the balance fund by the end of this year,” she said.
Asked about the future plan, Dalal said its AIF is a development fund platform built with combined skills of development and fund management.
“Our second fund shall be at least three times the size of our first fund, with deployment across the key cities in India like Delhi-NCR, Bengaluru, Pune and Mumbai with key developers,” she said.
Dalal said the second fund would be launched by the end of this calendar year.
“We are evaluating various strategies currently, but like our first fund we will bring out a product which works in bringing true partnership and long-term sustainability to the real estate sector,” Dalal said.
Mt. K Kapital, in its maiden fund (Mt. K Resi Development Fund Category II SEBI registered AIF), had raised funds from financial institutions, family offices and high net-worth individuals (HNIs).
Around 60 per cent of the fund came from SBI, SBI Life, ICICI Bank, Famycare and Keystone Realtors (Rustomjee).
