CREDAI, India’s main association of private real estate developers, is funding the country’s first-ever venture fund to create the proptech fund.
The inaugural fund will invest in early and growth stage firms, with ticket sizes ranging from Rs 2-8 crore in early stages to Rs 15-40 crore in growth stage Series A and B rounds. The funding will support innovative technology businesses seeking to move the real estate industry into the future.
SEBI granted the fund an AIF Cat II licence, with an additional green shoe option of Rs 400 crore.
Spyre VC is a proptech fund that focuses on growing businesses in the Indian market and aspires to be a strategic partner in fostering innovation in the real estate and related industries. Over the years, the tean has supported businesses such as OYO, Innov8, Planet Smart City, Rentmojo, Homeville, and others.
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