New Delhi, March 9 -- Arnya Real Estates Fund Advisors and real estate developer Supreme Universal have marked the first close of their platform, Arnya Real Estate Fund - Equity, at Rs 1,030 crore ($111 million), the company said in a statement.
The fund, which has a target corpus of Rs 1,250 crore, was launched in November last year under a platform partnership between the investor and the developer. At the time, the company had said the target corpus was Rs 1,000 crore, including a greenshoe option of Rs 500 crore, indicating that the vehicle has already exceeded its original base target.
The joint fund has raised capital from a mix of domestic and offshore investors.
The fund combines Arnya's institutional real estate investment management expertise and Supreme Universal's development experience in the Mumbai and Pune property markets. In Mumbai, the strategy will focus on residential redevelopment opportunities.
"This equity fund marks our second strategy, following the successful launch and strong investor response to our real estate debt fund," said Sharad Mittal, founder and chief executive officer of Arnya Real Estates Fund Advisors. "At Arnya, our objective is to build a focused, institutional real estate asset management platform led by experienced real estate investment professionals, ensuring strong alignment of interests and disciplined capital allocation. We believe that Mumbai's residential redevelopment segment represents one of the most scalable and structurally resilient business models within Indian real estate," he added.
Speaking about the fund, Sunny Bijlani, joint managing director, Supreme Universal, said, "As the real estate sector evolves, the quality and structure of capital have become as important as execution capability. Institutional partnerships such as this bring discipline, transparency, and long-term alignment into redevelopment projects. Together, we are building a model where institutional capital and on-ground execution expertise converge to deliver premium projects for homeowners and consistent outcomes for investors."
This is Arnya's second product offering in addition to its existing debt fund. For its maiden offering, the firm had launched Arnya Real Estate Fund - Debt in 2024, targeting a corpus of Rs 1,000 crore.
The firm has made a slew of investments from the maiden fund, taking exposure in projects by MAIA Estates, Vaishnavi Group, Gami Group and Casagrand.
Published by HT Digital Content Services with permission from VC Circle.