Azure Capital Advisors has invested Rs.50 Cr in three residential real estate projects in Bangalore through its India Realty Fund One.
Azure will also provide project development services to the projects through its subsidiary Azven Realty Limited.
Azure Capital was founded by executives of Suzlon Energy, SEEPZ and Sandisk Corporation in 2010. Azure had planned to raise Rs.500 Cr for its first fund-India Realty Fund One, but was able to raise only Rs.50 Cr so far and expects to raise another Rs.50 Cr by the end of this year.
This fund will focus on investments in real estate projects in the tier II & tier III cities in South and West India. It expects to exit three years from infusion.
Azure Capital Advisors had announced that it is planning to invest Rs.75 Cr in realty projects in Gujarat, but there has been no further news on that deal.
