Mumbai-based financial services firm Pantomath Group announced on Tuesday the launch of its maiden real estate investment vehicle, targeting investments across data centers, warehousing, residential properties, among others.
The fund, called Bharat Bhoomi Fund, has a target corpus of Rs 1,000 crore ($110 million) with a greenshoe option for an equivalent additional amount. It operates as part of the asset manager’s fifth Bharat Value Fund series.
The category-II alternative investment fund (AIF) was launched by Pantomath Group’s asset management arm, The Wealth Company Asset Management (formerly Pantomath Capital), and will be helmed by managing partner Rakesh Kumar and fund manager Bhavya Bagrecha.
The fund will have a tenure of five-and-a-half years with a 12-month commitment period from the closure date. It aims to offer around 22% annual pre-tax returns for investors, with a minimum investment of Rs 1 crore.
The fund’s diversified investment mandate covers both commercial and residential properties across key markets, including Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru, Chennai, Hyderabad, and other infrastructure-led corridors.
Conventional investments include mid-to-premium residential, retail, office, hospitality, and mixed-use assets. Special opportunities comprise data centers, warehousing, and renewable parks. The fund may also invest in plotted residential developments and villas to ensure quicker exits, given their shorter two-year cycles.
According to its private placement memorandum, the mandate focuses on pre-approved, land-acquired deals using a private equity-style mid-cycle monetization strategy.
As per the private placement memorandum, Bharat Bhoomi Fund already has six deals under due diligence, with ticket sizes ranging from Rs 50 crore to Rs 300 crore, and cumulative value exceeding Rs 800 crore. These deals span land areas from 4 acres to 700 acres.
“As capital becomes more thoughtful, the demand for real assets with real outcomes has never been higher. Bharat Bhoomi Fund allows meeting that demand with discipline, data, and domain expertise,” said Madhu Lunawat, founder and director of The Wealth Company Asset Management.
The Bharat Value Fund (BVF) was launched in August 2024 under Pantomath’s India Inflection Opportunity Trust (IIOT) with a targeted corpus of Rs 2,000 crore. BVF focuses on pre-IPO investment opportunities in companies promoting ‘Make in India’ initiatives, with ticket size of Rs 75 crore. Madhu Lunawat manages this fund as well.
