Spyre Proptech to raise Rs 400 crore in first phase of Rs 800-crore fund to invest in 30 startups
venture fund, backed by integrated incubator and accelerator for startups Venture Catalysts and NeoVon, is looking to raise Rs 400 crore in the first phase of a total Rs 800 crore proptech sectoral fund aimed at enabling major investments in over 30 Indian startups.
The maiden fund is set to invest in early and growth stage companies with ticket sizes ranging from Rs 2-8 crore in early stages and Rs 15-40 crore in growth stage series A and B rounds.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitThe fund has obtained a category II alternative investment fund (AIF) approval from the capital market regulator Sebi along with an additional green-shoe option of Rs 400 crore, increasing its flexibility. The Confederation of Real Estate Developers Associations of India (CREDAI), real estate developers’ body, is backing this venture fund.
“To be a part of the next tech disruption, it is imperative to promptly participate in the evolutionary process. The ambit of technological advancements in the real estate sector is vast, and we are excited to witness Spyre PropTech’s emergence as the leader in this respect. We look forward to working with proptech startups, making it a win-win for all,” said Boman Irani, president, CREDAI.
These investments will support innovative technology
