Brigade Group Launched a 200 Cr Venture Capital Fund

Supporting Founders in the PropTech and Sustainability Domain

We recently sponsored an INR 200 Cr venture fund, Earth Fund to support promising early-stage companies dedicated to advancing the field of property technology (PropTech) and sustainability in real estate, in line with our ethos towards supporting innovative and ecofriendly living solutions.

Earth Fund will be India’s 1st Real Estate Tech and Sustainability focused fund for the industry, by the pioneers of the industry. This fund builds on the success of Brigade Real Estate Accelerator Program (REAP), started seven years ago as Asia’s first real estate accelerator and investment program. REAP has a portfolio of 65+ startups that are leveraging technology to solve the challenges of the built world. Around 45% of these startups have raised a follow-on round of investment from external investors.

“ Tech adoption in the real estate sector has surged post-COVID, driven by heightened consumer expectations and the industry's imperative to meet those expectations while enhancing productivity. Our extensive experience with REAP has illuminated the revolutionary possibilities of technology in this field. Recognizing this need, we have identified the importance of creating a platform to provide entrepreneurs in this space with access to growth capital. ”

– Nirupa Shankar
Jt. Managing Director, Brigade Group

The Fund is spearheaded by Saras Agarwal, former Principal at Bharat Innovation Fund with a decade plus industry expertise and a track record of board positions in notable companies such as Setu (acquired by Pinelabs), Kaleidofin, Riskcovry, Manch Technologies, Mymobiforce, and Bandhoo, amongst others.

He is joined by Dheeraj S, ex-VP Investments, from Manipal Group, who brings with him extensive experience of working in the Real Estate investment and start-up space. The Fund has garnered significant attention from institutional investors, both domestically and internationally, and is looking to achieve its first close by August this year. The Fund will essentially look to support ventures, cutting across Real Estate Tech, Sustainable Tech, and Sustainable Real Estate.

The Fund has created an impressive pipeline of companies that includes both B2B and B2C ventures in the PropTech and sustainability space.

Saras adds further, “Global real estate is valued at a whopping $217 trillion, making it the world's most important asset class. In fact, it is a more valuable asset class than all the stocks, shares and bonds combined. The Fund's mission is to infuse technology into this vital asset class. Real Estate is also a sector that is often held responsible for approximately 39% of global carbon emissions, 30% of energy consumption, and 20% of total water consumption worldwide. The imperative to embrace sustainability is, therefore, of utmost significance."

Since 2014, PropTech startups have raised $100 Bn+ globally, interestingly, 75% of this capital was invested in the last 5 years. In recent years, India is also witnessing a surge in investments in the PropTech startups, which now constitute 6% of all startups in the country. Since January 2021, these startups have secured approximately $2.9 billion in funding, signaling a robust growth trajectory. With Earth Fund, our goal is to accelerate adoption of tech and foster sustainable innovations in the built world.