Secura launches its Rs 200 crore third fund AIF 1

SEBI-registered and Shariah-complaint venture capital fund, Secura Investment Management (India) Pvt Ltd, launched its third investment management fund, Realty AIF 1 (Alternative Investment Fund). Targeted to raise Rs 200 crore with the Green Shoe Option of Rs 100 crore more, the minimum investment under the scheme, which will have its first closing on December 31, 2016.

"With the investment potential in real estate sector is growing at a steady pace, we are looking at an annualised RoI of 15-20 per cent, with a profit share post hurdle of 80:20 with catch-up" said, Mehaboob M A, Managing Director, Secura Investment Management.

 

He added, the potential investors of the fund include institutional investors, high net worth individuals and any other investors, who are qualified to invest

Mehaboob said they have raised small-sized funds in its earlier outings. Now that the norms to tap into offshore investors have been relaxed, they are looking at a bigger capital pool.

The investments under the fund will be made in the modes of investment in equity, quasi-equity and equity-related instruments, investment in a co-investment capacity with development companies and other promoters of a portfolio company, investment in special purpose vehicles created by the company or other AIF and as partner with reputed developers to develop and enhance their real estate project portfolio through funding in specific projects, he said.

While the company's first scheme, Secura India Real Estate Fund Domestic Scheme 1, has completed with a payback record of 18 per cent per annum, the second scheme, Secura India Real Estate Domestic Scheme 2, is in the investment stage and its tenure will be over in 2017.

The company has investments in four ongoing real estate projects in Kozhikkode, which include Autumn Leaves Villas at Velliparamba, Empora West at West Hill and Olive Arcade and Nova Arcade at Malaparamba. The company had earlier invested in four other real estate projects, which are already completed.