Spyre PropTech Venture Fund, which is backed by Venture Catalysts and Neovon, has announced the launch of the first phase of Rs 400 crore PropTech sectoral fund that aims to enable major investments in over 30 Indian startups.
CREDAI, the apex body of private real estate developers in India, is backing the first of its kind venture fund, to shape up the proptech fund in the country.
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. The investments will bolster innovative technology startups working towards propelling the real estate sector into the future.
The fund has obtained an AIF Cat II licence from SEBI with an additional green shoe option of Rs 400 crore.
Spyre VC is a proptech fund which focuses on nurturing startups in the Indian landscape and aims to become a strategic partner to foster innovation across the real estate space and its ancillaries.
Over the decades, the team has backed companies like OYO, Innov8, Planet Smart City, Rentmojo, Homeville and more.
