PE Milestone Captial to raise Rs 80-100 crore from Gujarat by targeting rich Gujarati’s

AHMEDABAD: Private Equity firm Milestone Capital Advisors, to raise Rs 80 to Rs 100 crore from Gujarat for its new ongoing debt fund – Milestone Opportunities Fund 10 (MOF 10).

Talking to ET, Navin Kumar, Executive Director, Milestone Capital Advisors Ltd, said “Usually, 10%-15% of the money that we raise for our all funds comes from Gujarat”. He further added that for they are targeting family offices, High Networth Individuals (HNIs) and institutional investors from Gujarat to put in their money in this fund.

“We expect to raise somewhere between Rs 80 to Rs 100 crore from Gujarat alone” said Mr Kumar. MOF 10 is Rs 500 crore corpus fund and Milestone had already raised Rs 170 crore. The remaining amount would be raised soon.

MOF 10 has relatively short tenure of three and half years as against other 5 -7 years funds and will invest across mid-segment residential projects in potential micro-markets of top 5 metros comprising of NCR, Mumbai, Chennai, Bangalore and Pune.