Altern Capital has launched its maiden SEBI-approved Category II Alternative Investment Fund (AIF), JIRAAF AU INDIA REAL ESTATE FUND — I (JIREF I). The target size of this fund is ₹250 crore initially, with an additional greenshoe option of ₹100 crore.
The strategic focus of JIREF I revolves around plotted development and last-mile funding in the real estate sector. It distinguishes itself by emphasizing reduced approval and execution risks, a departure from industry norms. The fund’s tenor is 4 years, shorter than the typical 6-year horizon, emphasizing early project completion, enhanced visibility, and dependable principal and returns for investors.
Navin Dhanuka, Founder & CEO of Altern Capital, said, “ Our goal is to redefine real estate investment by ensuring tech-based stringent investment and post-investment monitoring and delivering exceptional risk-adjusted returns for our investors, and we believe our innovative approach will set new benchmarks in the industry,” said, Navin Dhanuka, Founder & CEO of Altern Capital. “
The fund is sponsored by AI Growth Private Limited, through its brands “JIRAAF & ALTGRAAF”.