SUMMARY
- Shivalik Investment Fund raised ₹75 crore in the first close of the inaugural fund.
- Fund targets Ahmedabad’s high-growth real estate, focusing on residential and commercial projects.
- The firm has developed over 15 million sq ft, creating 12 Ahmedabad micro markets.
At the first closure of its inaugural fund, Shivalik Investment Fund (SIF), a Category II Alternative Investment Fund (AIF), has raised 50% of its intended corpus of ₹150 crore. Under the “green shoe” option, the fund also hopes to raise an additional ₹150 crore. The fund‘s primary focus is on residential and commercial real estate investments, along with project planning in Ahmedabad’s high-growth districts.
Piyush Kothari, executive director of Shivalik Investment Fund has stated, “Ahmedabad’s real estate market is entering a transformative phase, driven by infrastructure development, rising incomes, and increased demand for premium residential and commercial properties. Shivalik Investment Fund is well-positioned to leverage these trends through our professionally managed fund, offering investors an opportunity to be part of Shivalik’s growth story”.
Chitrak Shah, the founder and managing director of Shivalik Group, said, “Our successful first closure of the fund demonstrates our commitment to leveraging our financial and development expertise to enhance our presence in Ahmedabad and maximize returns for our investors.”
The firm has completed more than 75 notable projects, adding to the creation of more than 15 million square feet of real estate. With its initiatives, the company has also created more than 12 micro markets throughout Ahmedabad.
