HDFC Capital Invests ₹20 Crore in Earth Fund to Boost Proptech Innovation
HDFC Capital, a prominent real estate private equity investment manager, has entered into a strategic partnership with Brigade Enterprises and Gruhas PropTech. As part of this collaboration, HDFC Capital has acquired a minority stake in Zoiros Projects and committed ₹20 crore to the Earth Fund. The Earth Fund, anchored by Brigade Group and Gruhas, is a proptech fund focused on backing early-stage startups that are redefining the built environment.
Vipul Roongta, CEO of HDFC Capital, and Manish Agarwal, Associate Principal – Investments and Strategy, HDFC Capital, expressed their enthusiasm for the partnership. They stated, “India has a vibrant start-up ecosystem that continues to develop innovative solutions enhancing efficiencies across the built environment. HDFC Capital’s H@ART platform, established in 2019, was created to invest in, mentor, and partner with companies focused on driving such efficiencies. Our strategic partnership with Earth Fund is a natural extension of this commitment, and we are excited to work together to catalyse next-generation solutions for the Indian real estate sector.”
Nirupa Shankar, General Partner at Earth Fund, emphasized the significance of HDFC Capital’s participation. She commented, “HDFC Capital’s participation reaffirms our belief that PropTech has transitioned from experimentation to essential infrastructure. HDFC Capital’s deep understanding of real estate financing and proptech, combined with Earth Fund’s startup ecosystem, creates a powerful platform for founders building transformative solutions.”
Abhijeet Pai, another General Partner at Earth Fund, shared his thoughts on the partnership. “We are delighted to welcome HDFC Capital to Earth Fund and Zoiros. The built world is on the verge of a major transformation as AI, evolving consumer expectations, and new health demands reshape how we design, build, and live in our spaces. With HDFC Capital’s partnership, Earth Fund is further energized to back entrepreneurs reimagining infrastructure, housing, and construction in smarter, sustainable, and impactful ways,” he said.
This strategic move by HDFC Capital underscores the growing importance of proptech in the Indian real estate sector. By investing in innovative startups and fostering a collaborative ecosystem, HDFC Capital aims to drive efficiency, sustainability, and technological advancement in the built environment. The partnership with Earth Fund is expected to catalyze a wave of new solutions and ideas, benefiting both the industry and the broader community.
