The first phase of the Rs 400 crore PropTech sectoral fund, which is supported by Venture Catalysts and Neovon, has been launched by the Spyre PropTech Venture Fund. The fund’s objective is to facilitate significant investments in over 30 Indian startups.
The first venture fund of its kind to shape the proptech fund in the nation is being supported by CREDAI, the highest body of private real estate developers in India.
With ticket sizes ranging from Rs 2-8 crore in the early stages and Rs 15-40 crore in the growth stage Series A and B rounds, the maiden fund is intended to invest in both early and growth stage companies. The investments will support forward-thinking tech startups that aim to advance the real estate industry.
With a further green shoe option of Rs 400 crore, the fund has acquired an AIF Cat II license from SEBI.
Spyre VC is a proptech fund that supports Indian startups and wants to establish itself as a key collaborator in promoting innovation in the real estate industry and its related fields.
Innov8, Planet Smart City, Rentmojo, Homeville, OYO, and other businesses have been backed by the group over the years.
