Welspun One’s second fund raises ₹2,275 crore

The fund and development management platform Welspun One announced the closure of its second fund totalling ₹2,275 crore, inclusive of co-investment commitments.

Capital was sourced from a pool of 800 Limited Partners (LPs) or investors, including high-net-worth and ultra-high-net-worth individuals, family offices, corporates, and domestic institutions.

Combined with Fund 1, Welspun One's investor base now comprises of approximately 1000 unique investors.

To date, Fund 1 is committed with six investments, aggregating to a development potential of 7.2 million square feet across 300 acres of land in five cities pan-India.

Currently, about 50 percent of this is already delivered, with the remaining 50 percent scheduled for delivery over the next 4-6 quarters.

The portfolio includes marquee clients such as Tata Croma, Delhivery, FM Logistics, Asian Paints, and Ecom Express, amongst others.

Additionally, Fund 1 recently delivered its first exit via the sale of its investment in a 13-acre / 0.3 million square feet park in NCR, sold at a transaction valued at ₹900 million (approximately $11 million).

Welspun One Fund 2 has already committed nearly 40 percent of its investible capital across four investments and anticipates committing the remaining capital over the next 3-4 quarters.

This will add 8MM sf to Welspun One’s existing portfolio of ~10MM sf, taking their aggregate portfolio to ~18MM sf and which will entail a total project outlay of ~$1 billion.

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