SWAMIH Fund-I raises 1,500cr at final close

In a statement released to the press, the Special Window for Affordable and Mid-income Housing (SWAMIH) Investment Fund I has raised a sum of approximately Rs 15,000 crores in its final close on 6 December 2022. The fund has already completed construction of 19,550 homes and is set to deliver another 20,000 for the next three consecutive years. It received a capital infusion, as promised, from the Government of India to the tune of Rs 5,000 crores earlier this year. The additional fund is likely to allow the entity to continue funding ventures until December 2024.

The SWAMIH Investment Fund I was set up with the goal of providing priority debt financing for the completion of stressed RERA registered and brownfield residential projects that qualify as affordable and mid-income housing projects. Since its inception, the Fund has grown to a team size of 33 individuals and is said to have evaluated over 1,000 deals across the country. It has funded over 275 projects in thirty cities and delivered over 79,000 homes. The fund is managed by SBICAP Ventures, an arm of the State Bank Group. Its main sponsors include Ministry of Finance, Life Insurance Corporation of India (LIC), HDFC and other major nationalised banks.

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SWAMIH Fund-I raises 1,500cr at final close

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