WhiteBoard Advisory & Management (WB) and Casagrand have received SEBI approval to raise ₹500 crore for their jointly established Millenia WB Yield Fund, aimed at providing growth capital for residential projects.
The fund has already committed ₹41 crore for a villa project in Hyderabad targeting ₹400 crore in revenue.
Capital raised will focus primarily on developing projects in Chennai, Bangalore, Hyderabad, and select other locations. The fund offers yield-based returns to investors, leveraging WB’s investment expertise and Casagrand’s proven execution and sales track record.
Founded in 2022 by Anchit Lakhotiya and Sanjay Ratra out of Mumbai, Whiteboard Advisors acted as the exclusive advisor for this transaction.
The fund aims for 4-5 investments by 2026.
Recently, WB also served as the sole advisor for a warehousing deal between Blackstone and Casagrand for over 150 acres in Chennai’s established warehousing areas of Santhavellore and Sri C Village.
WB is working on launching a unique alternative investment platform targeting assets with an initial AUM of $250-500 million. Casagrand, established in 2003, is one of India’s leading residential developers, based in Chennai and expanding into Mumbai and NCR.
They are also in the process of raising ₹1,100 crore through an IPO, with the DRHP currently with SEBI.
“WB is committed to presenting diverse investment opportunities across domestic and offshore markets within the Indian Urban Asset landscape. We are developing investment vehicles that represent core pillars of the Indian economy,” said Anchit Lakhotiya of the Millenia WB Yield Fund.
