Welspun One’s second fund closure at ₹2,275 crore marks a milestone in the domestic real estate alternatives sector.
Welspun One has closed its second fund at ₹2,275 crore, including co-investment commitments. This is the largest domestic fund raise in the real estate alternatives sector, according to the company. The fund attracted around 800 investors, including high-net-worth individuals, family offices, corporates, and domestic institutions.
The success of Fund 2 reflects strong investor confidence in the warehousing sector and Welspun One’s management team. Fund 1, launched in early 2021, raised ₹500 crore and is fully committed with six investments totaling 7.2 million square feet across 300 acres in five cities. About 50 percent of this is already delivered, with the rest expected in the next 4-6 quarters.
Fund 1 includes notable clients like Tata Croma and Asian Paints and recently exited an NCR investment at ₹900 million. Fund 2 has committed 40 percent of its capital and plans to allocate the rest in the next 3-4 quarters, focusing on new-age warehousing assets like urban distribution centers and cold chain logistics. This will increase Welspun One’s portfolio to 18 million square feet with a total project outlay of $1 billion.
