"With an initial investment corpus of Rs 50 crore, the company will not only provide angel funding or venture capital, but also business opportunities, industry contacts and mentorship," the company said in a statement issued here.
This Startup Investment Fund will invest in startups at all stages of the development cycle, including early stage startups, which are focused on creating value in the real estate and smart city space in the country.
"To aid India's growth story, our fund will address the prevailing inefficiencies in the sector with the use of technology and smart solutions. Our experience will be able to combine knowledge with the energy and technical know how of startups to find path-breaking solutions enabling India's real estate industry to leap frog ahead and become globally benchmark-able in its innovation and practises," company's Managing Director Abhishek Lodha said.
He said the company has been working in a focused manner to establish this platform over the last few months.
The company is currently developing around 4.1 crore sqft of prime residential real estate globally with the largest land reserves in the Mumbai Metropolitan Region and has 31 ongoing projects across London, Mumbai Metropolitan Region, Pune and Hyderabad.