KPFO Ventures, the investment arm of Kolte Patil Family Office and Cerestra Ventures, have entered into a joint venture to foray into the fractional ownership space with an initial portfolio of $100mn.
Cerestra Ventures—a real estate private equity fund with AUM of $170 mn—and KPFO will invest through Winvest, a build PropTech platform that will enable eligible investors to participate and benefit from a unique asset portfolio, active asset management and easy exit opportunities through the joint ownership model.
“We believe that a technologically robust co-ownership real estate platform with innovative asset portfolio and exit opportunities, is the need of the hour,” said Rajesh Patil, CMD, Kolte Patil Developers.
KPFO Ventures will back the venture with strategic guidance and seed investment, while Cerestra Ventures will be the lead on asset identification, deal closures and post investment asset & investor management.
The platform includes 10 educational institutes across top 10 cities and a fifty percent share in a sciences development center in Pune.
“While there’s no doubt that proptech has democratised real estate investment and broad-baseded its reach, the market is ripe for some disruptions in this domain,” said Jasmeet Chabbra partner Cerestra Advisors. “Over the last 6 years at Cerestra, we have looked at some unconventional real estate assets – such as educational institutes & life science assets – thus bringing a well differentiated and defensive investment strategy and estimated higher returns than the market.”
PropTech is growing fast in India on the back of advancements in technology, emergence of sharing economies and changing consumer attitudes towards real estate.
Winvest will focus on the joint ownership of upcoming asset classes as well as supporting institutional investors and family offices to help them optimise their real estate portfolios.
The new venture will be led by Satish Kataria – a venture capital professional with over 21 years of experience across some large funds including Religaire.
“We want to work with leading financial intermediaries to take interesting real estate investment opportunities across national and global investors,” said Satish Kataria, COO, Winvest.
KPFO Ventures is the early-stage startup investment arm of Kolte Patil Family Office that has made 10 investments so far.