NeoLiv raises ₹300 crore in first close of maiden AIF for development of housing projects

The funds will be deployed to develop middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities in Tier 2 cities.

Published on: Mar 14, 2024, 17:03:28 IST

By HT News Desk

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Residential real estate platform Neoliv said on March 14 that it has raised more than ₹300 crore in the first close of its maiden Alternate Investment Fund and that the funds will be deployed to develop middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities in Tier 2 cities.

Neoliv has raised more than ₹300 crore in the first close of its maiden Alternate Investment Fund. The funds will be deployed to develop middle-income residential properties in Mumbai MMR, Delhi NCR and other cities. (Picture for representational purposes only) (BACHCHAN KUMAR/HT PHOTO)

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The residential equity fund has garnered participation from family offices and UHNWIs from across the country, the company said.

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NEOLIV was founded by Mohit Malhotra, former MD and CEO of Godrej Properties, leading industry experts and 360 ONE (India’s leading wealth and alternates-focused asset management firm with $ 50 billion AUM). It was launched in January 2023.

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Karan Bhagat, founder, MD & CEO of 360 ONE, said, “We are happy to be the sole manager and advisor for NeoLiv’s maiden fundraise, which saw active participation and firm commitments from UHNIs, family offices, CXOs with an appetite for new age professionally driven business opportunities. The roadshows for the fundraise were held in Mumbai, Delhi- NCR, Kolkata, Ahmedabad, Lucknow, Kanpur, Bhavnagar, Udaipur and Bengaluru.”

Mohit Malhotra, Founder and CEO, NEOLIV, said, “We are humbled by the trust and belief bestowed on us by the highly prestigious family offices and esteemed individual investors who have shown their conviction on the NeoLiv platform and our team. With a robust pipeline of projects, we aim to deploy the capital within the next few months and deliver on our promise.

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