NeoLiv inks strategic alliance with 360 ONE amidst $150 million fund raise plan

economictimes.indiatimes.com:

IIFL Asset Management, has entered into a strategic partnership with residential investment and development platform NeoLiv by making a minority entity-level equity investment. Founded by Mohit Malhotra, former MD and CEO of Godrej Properties, NeoLiv has already secured the permission from the Securities & Exchange Board of India (SEBI) for a category II Alternate Investment Fund (AIF) with a plan to raise $ 150 million including a green-shoe option of $60 million.

NeoLiv intends to utilize the funds to set up robust investment, corporate governance, and execution processes, hire top talent and establish a unique competitive edge in the real estate sector. “We will be working with the NeoLiv team that brings on board a credible track record of capital raise, business development, governance, execution and customer satisfaction to further capitalize on opportunities in this space and believe this investment will deliver strong risk-adjusted returns for all beneficiaries,” said Karan Bhagat, Founder, MD & CEO, 360 ONE.

According to Bhagat, over the past few years, a vacuum has been created in the residential fund and development space, where one can see strong demand as the country’s middle-income segment continues to grow. “We are excited to partner with 360 ONE as a strategic equity investor in our company.

360 ONE’s commitment to NeoLiv is a testament to the innovative platform we are building in the residential space in India. The investment will allow us to build and expand our unique model to better serve our customers,” said Mohit Malhotra, Founder and CEO, NeoLiv.