Casa Grande Pvt Ltd, a premium real estate enterprise in Chennai, has announced the buyback from investor Fulcrum Ventures, a family enterprise-turned-venture capital fund. With this, the promoters’ holding in the company has increased to 100 per cent. While the buyback, which was to the tune of Rs 50 crore, was funded through internal accruals, the company said it had lined up projects worth Rs 750 crore open for stake dilution to equity investors.
M Arun Kumar, founder and managing director, Casa Grande, said the company was at a point of inflection and ramping up a sizeable pipeline of business. In the present situation, it made business logic for this investor’s exit which had turned out to be mutually beneficial.
Casa Grande was primarily funded by Fulcrum Ventures with a seed capital of Rs 5 crore invested in tranches between 2004 and 2006.
