Mount K Kapital raises 2nd realty fund worth ₹4K cr, to expand beyond MMR

The seven-year credit fund will back 10-15 projects across major cities, building on the firm's first Rs 790 crore vehicle

Realty-focused fund Mount K Kapital, which is backed by the Rustomjee Group, on Thursday announced that it has raised its second real estate investment fund of $450 million (around Rs 4,000 crore).

 

“The second fund will be used to finance 10 to 15 projects, which are being identified in the Mumbai Metropolitan Region (MMR), Delhi National Capital Region (NCR), Bengaluru and Pune,” Binita Dalal, founder and managing partner of the fund, told Business Standard.

 

The second fund, backed by unnamed strong general partners (GPs) and limited partners (LPs), aims to invest in projects at the acquisition stage and further support its development partners through the journey of the project development.

 

 

Dalal added that the credit fund has a tenure of seven years and is targeting residential, mixed-use and redevelopment projects that can be completed within five years. 

 

“The deployment target for the new fund is early 2026, supported by a strong pipeline of projects currently under evaluation,” she said.

 

The firm is also working on getting exits in investments from the first fund worth Rs 790 crore in the next couple of years.

 

The first fund had seen support from marquee investors, including leading institutions such as SBI, ICICI Bank, SBI Life and Famy Care, along with several prominent family offices.

 

“The first fund, a Rs 790 crore MMR-focused vehicle, has established the platform’s approach to underwriting, project monitoring and investor engagement,” said Boman Irani, chairman and managing director (CMD) at Rustomjee Group.

 

He added that the group expects the strategy to scale with the second fund and strengthen the platform’s position as an institutional capital provider to the real estate sector.

 

The fundraise comes even as the realty sector is witnessing sustained momentum led by demand resilience in the residential segment, strong sales velocity and consolidation towards established developers.