Shivalik Investment Fund (SIF), a Category II Alternative Investment Fund (AIF) based in Gujarat, has successfully closed its inaugural fund with 50% of its targeted corpus of Rs 150 crore. The fund also intends to raise an additional Rs 150 crore through the green shoe option.
In the initial closure, Shivalik Group, a real estate developer headquartered in Ahmedabad, garnered substantial interest from high-net-worth individuals and family offices. Plotting initiatives in Ahmedabad’s high-growth areas, as well as investments in the residential and commercial sectors, are the fund’s primary objectives.
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Shivalik Group has completed more than 75 iconic projects, which have contributed to the development of over 15 million square feet of real estate. Additionally, the organization has implemented initiatives that have resulted in the establishment of more than 12 micromarkets throughout Ahmedabad.
Piyush Kothari, Executive Director, Shivalik Investment Fund, said: “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,”
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