 "Avenue Venture exits Casa Grande with 1.6X returns")
Avenue Venture Partner had invested Rs 24.8 crore and had a return of Rs 40.1 crore. The fund was invested 18 months earlier.
The company has exited from their project CG Cherry Pick at Perumbakkam. This is the second exit Casa Grande has provided to Avenue, earlier being for the project CG Aldea at IRR of 74%.
For Avenue, this is the fourth exit in less than three years since fund's incorporation. Casa Grande had begun with a seed capital of Rs 5 crore in 2004 from a PE has given exit to the same during 2012, at a yield of more than 10X with IRR of over 50%.
Casa Grande Private Limited has developed projects over 3 million Sq. ft till date across 64 projects, with more than six million sq ft under construction.