On November 14, 2022, the 2nd HDFC Capital H@ART (Housing and Affordable Real Estate and Technology) Summit was concluded in Mumbai, Maharashtra.
- During the summit, HDFC Capital, has shortlisted 10 startups for funding and support out of which four were focused on construction tech and three each in sustainability tech and sales & fintech.
- HDFC Capital is a subsidiary of Housing Development Finance Corporation (HDFC) Ltd dealing in real estate private equity.
Selection Process:
In September 2022, through its H@ART Platform had launched HDFC Real Estate Tech Innovators 2022 challenge in partnership with Invest India to identify, recognize and award disruptive innovations in the Construction Tech, SalesTech, FinTech, and Sustainability Tech verticals.
- This challenge received a response from 537 startups which went through a jury process overseen by Ernst & Young with jury members.
Key Points:
i.HDFC Capital through its H@ART platform has committed to more than 15 investments in Indian prop-tech startups. This platform raised over Rs 500 crore through global investors as the first close of its property technology fund.
- Prop-tech includes construction tech, sales tech, fintech and sustainability tech.
- It is an established asset class globally.
ii.H@ART provides a seamless platform to foster collaboration between Affordable Housing Developers and Technology Innovators to develop sustainable and smart affordable homes in India on the lines of Central Government aim of Housing for All.
iii.HDFC Capital is the investment manager to HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), HDFC Capital Affordable Real Estate Fund 2 (H-CARE 2) and HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3), which are registered with SEBI (Securities and Exchange Board of India) as a category II alternative investment funds.
- These funds combine to create a $ 3 billion platform targeting the development of affordable and mid-income housing in India.
iv.The real estate sector in India will likely to reach $1 trillion in market size by 2030, and contribute around 13% of India’s GDP by 2030.
HDFC Capital, CREDAI collaborate to Accelerate Investments into real estate projects in tier 2,3 cities
HDFC Capital joined hands with Confederation of Real Estate Developers’ Association of India (CREDAI) to accelerate investments into real estate projects in tier II and III cities during the ‘NATCON 2022’ annual event held at YAS Island in Abu Dhabi.
- Under this, HDFC capital will invest in mid-income and affordable projects in these cities through its $3 billion fund.
- While CREDAI will act as an information and logistics bridge between the institutional investor and real estate companies.
Key Points:
i.CREDAI has also entered into a pact with integrated incubator and accelerator for startups, Venture Catalysts & NeoVon for $100 million proptech fund ‘Spyre VC Proptech Fund’ for tech-enabled startups in the real estate sector.
- This fund will invest in the next couple of years across early and growth stage start-ups.
ii.CREDAI will also launch ‘Credaiverse’ to have a permanent presence in Metaverse for an efficient buying consumer experience.
iii.CREDAI members are committed towards being 100% carbon neutral by 2050 as a part of UN’s Sustainable Development Goals (SDG) 2030.
Recent Related News:
i.HDFC Securities Limited, a subsidiary of HDFC Bank Limited, has opened first-ever Women-Only Digital Centre (DC) in Bengaluru, Karnataka with all women staff aged below 30 years, serving both male and female investors.
ii.HDFC Life Insurance Company Limited (HDFC Life) has launched the ‘Insure India’ campaign that is aimed at educating Indians on the benefits of life insurance as a product category.
About HDFC Capital:
Managing Director & CEO– Vipul Roongta
Headquarters– Mumbai, Maharashtra
