[ecis2016.org] Realty player Lodha Group has launched its maiden investment fund with an initial corpus of Rs 50 crores, for startups focused on smart city solutions and the overall real estate sector
The Lodha Group, on January 4, 2017, announced the setting up of its Startup Investment Fund, which will not only provide angel funding or venture capital, but also business opportunities, industry contacts and mentorship.
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With an initial investment corpus of Rs 50 crores, the company 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, Lodha Group said, in a statement.
Within real estate, the company will look at all aspects of the value chain, right from digital marketing to analytics and from customer relationship management (CRM) to smart city services.
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“To aid India’s growth story, our fund will address the prevailing inefficiencies in the sector, with the use of technology and smart solutions. We have already vetted 2-3 business ideas and the first round of investments will be completed by March 2017,” the company’s managing director, Abhishek Lodha said.
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He said the company has been working in a focused manner to establish this platform over the last few months. “With the launch of this fund, the company will bring significant expertise, knowledge and resources for the technology-led solution providers, which aim to serve the smart city and real estate space and enable the real estate sector to contribute in a bigger manner to our nation’s employment and economic growth,” he added.
The Lodha Group is currently developing around 4.1 crore sq ft of prime residential real estate globally, with the largest land reserves in the Mumbai Metropolitan Region and has 31 ongoing projects across London, Mumbai, Pune and Hyderabad.
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