Brigade Group & Gruhas Launch Rs 300 Crore AIF Fund for PropTech

New Delhi, Mar 18 (PTI) Realty firm Brigade Group and Gruhas have set up a Rs 300 crore AIF fund to invest in PropTech and sustainability-driven startups.

The Earth Fund, a real estate tech and sustainability-focused investment fund set up under Zoiros Projects Pvt Ltd, has been launched by Brigade and Gruhas.

The Rs 200 crore Sebi-registered Category II Alternative Investment Fund (AIF), with an additional Rs 100 crore green-shoe option, aims to back high-growth startups solving challenges in the built world through sustainability and innovation.

Gruhas is an investment arm of Nikhil Kamath and Abhijeet Pai.

Nirupa Shankar, Joint Managing Director of Brigade Enterprises Limited, said, "The uniqueness of Earth Fund is its focus on Urbantech and Sustainability solutions for the built world. By leveraging the resources and expertise of Brigade Group and Gruhas, our aim is to identify and support startups that will redefine urban development and drive long-term value".