Iron Pillar, a Mumbai-based growth-stage technology-focused venture capital, announced that it has roped in US-based real estate-focused firm Nitya Capital as an investor, according to an ET report.
Nitya Capital is a privately-held real estate investment firm that owns and manages an estimated $2 billion in assets across the US. The company turns out to be the first external investor in Iron Pillar.
“We have had conversations around how we can connect India and the US much more closely…It’s more about linking our respective networks and relationships more closely for the technology ecosystem in India, and looking to make more cross-border investments down the line,” Anand Prasanna, managing partner at Iron Pillar.
Founded by Swapnil Agarwal, Nitya Capital’s assets include multifamily units, to commercial office, single family homes, retail, townhome development and multi-use ground-up development projects.
“The Iron Pillar model is unique for its long-haul visionary approach to building large outcome technology companies from India. We are looking forward to augmenting this endeavour and building a portfolio of high return investments in the long term,” Agarwal said.
Founded by Sameer Nath, Prasanna and Mohanjit Jolly in 2016, Iron Pillar primarily makes investments starting at the Series B round and upwards.
According to Prasanna, the firm plans to deploy the entire corpus of the top-up fund by the end of the current calendar year, before kickstarting efforts to raise its second fund.
Iron Pillar recently announced the close of its maiden fund with over $90 million of committed capital.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.