Mt. K Kapital, a real estate-focused investment platform, intends to launch its second fund with a capital of approximately Rs 2,500 crore to finance housing projects in key cities.

Mumbai-based Mt. K Kapital is a real estate-focused fund management firm with a SEBI-approved Category II Alternative Investment Fund (AIF) license.

"Our first fund closed with a total value of Rs 790 crore." Binitha Dalal, Founder and Managing Director of Mt. K Kapital, told PTI that close to 50% of the capital has been allocated in five projects.

These five projects, totaling 7 lakh square feet, are located in the Mumbai Metropolitan Region (MMR) and are being constructed by Keystone Realtors Ltd, which operates under the 'Rustomjee' brand.

"We intend on committing the balance fund by the end of this year," she informed me.

When asked about future plans, Dalal stated that its AIF is a development fund platform that combines development and fund management skills.

"Our second fund shall be at least three times the size of our first fund, with deployment across the key cities in India like Delhi-NCR, Bengaluru, Pune and Mumbai with key developers," according to her.

Dalal stated that the second fund would be launched by the conclusion of the current calendar year.

"We are evaluating various strategies currently, but like our first fund we will bring out a product which works in bringing true partnership and long-term sustainability to the real estate sector," Dalal revealed.

Mt. K Kapital's first fund (the Mt. K Resi Development Fund Category II SEBI registered AIF) was funded by financial institutions, family offices, and high net-worth individuals.

Around 60% of the funds came from SBI, SBI Life, ICICI Bank, Famycare, and Keystone Realtors (Rustomjee).