Wealth and alternatives-focused asset firm 360 ONE-backed residential real estate platform NeoLiv has raised over Rs 300 crore as first close of its alternative investment fund (AIF), Inliv Real Estate Fund, from family offices and ultra-high net-worth individuals across the country.
The fund, SEBI registered category II AIF, is aiming to raise a total over Rs 1,200 crore including a green-shoe option to develop high quality, middle-income residential properties in Mumbai Metropolitan Region (MMR), Delhi-National Capital Region, and plotted opportunities in tier 2 cities.
“We have identified a few projects and with a robust pipeline of projects, we aim to deploy the capital within the next few months and deliver on our promise,” said Mohit Malhotra, CEO, NeoLiv.
NeoLiv is founded by Mohit Malhotra, former MD & CEO of Godrej Properties, industry experts and 360 ONE, a wealth and alternatives-focused asset management firm with $50 billion assets under management (AUM).
“This maiden fundraise of NeoLiv’s has witnessed active participation and firm commitments from UHNIs, family offices, CXOs with an appetite for new age professionally driven business opportunities,” said Karan Bhagat, Founder, MD & CEO of 360 ONE, which is the sole manager and advisor for the fundraise.
Last year, 360 ONE, erstwhile IIFL Asset Management, entered into a strategic partnership with NeoLiv by making a minority entity-level equity investment.
The integrated platform with fund management and in-house development capabilities was launched in January 2023 by Malhotra who helped grow listed company Godrej Properties over the course of 12 years until December 2022.
The platform is designed to control the entire life cycle of a real estate project, from financing to handover, providing homebuyers the security of timely delivery. For investors, the platform aims to provide an opportunity to invest at the land stage and derive developer-level margins in the residential real estate sector.
Despite increased mortgage rates and rising property prices, the residential real estate market across major Indian cities has maintained its growth momentum, reaching a multi-year high. The outlook for the residential market indicates a heightened positivity regarding housing sales and launches, with stakeholders maintaining optimism about sustaining demand.
