HDFC Capital Advisors Limited, which is a Venture Capital (VC) and private equity firm specializing in real estate private equity investment management and a subsidiary of Indian financial services company HDFC Limited, has secured more than INR 500 Crore via international investors as the Property Technology (Proptech) Fund’s initial close for investments in start-ups that foster competency and innovation in the affordable housing ecosystem.
Through its HDFC Affordable Real Estate Program or the H@ART Program, it is attempting to provide a platform for real-estate tech companies with cutting-edge goods that can boost proficiencies and lower costs at all phases of a real-estate venture’s development cycle.
The H@ART Program’s goal is to bring together every party involved in the affordable housing sector, including developers, Information Technology (IT) firms, Venture Capital (VC) funds, academia, and innovators, to foster innovation and involvement. The initiative aims to guide, collaborate with, and make investments in real estate tech businesses that generate ground-breaking innovations and competencies in the ecosystem for affordable housing in India.
The Housing Development Finance Corporation Limited (HDFC) has previously committed to over 15 investments in Property Technology (Proptech) companies operating in India, including Loyalie, HomeExchange, and a few other ventures.
According to Vipul Roongta, the Managing Director (MD) and Chief Executive Officer (CEO) of HDFC Capital Advisors Limited, utilizing a pool of funding, collaborations, and tech, the company aims to close the gap in demand and supply for India’s affordable housing sector. They expect to collectively bring various stakeholders, such as developers, consultants, building contractors, international organizations, business accelerators, venture capitalists, and business incubators.
To identify the most cutting-edge Property Technology (Proptech) companies, HDFC Capital Advisors Limited is about to set the HDFC Technology Innovators initiative into motion in collaboration with the Government of India (GoI), several Indian as well as international funds, the academia world, and industrial groups. It may probably be a continuing effort in the quest to identify and partner with cutting-edge technology companies in the affordable housing sector.