India
The vehicle will back execution-ready real estate projects across major Indian cities.
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The capital will be invested through two SPVs, controlled by Birla Estates.
Greater China
The investor said about half of its existing LPs doubled down on the new fund.
Singapore
EDBI and SGInnovate, among others, joined the round as new investors.
The fund will invest between $7m and $25m per company.
With China’s ByteDance-owned TikTok still facing a ban in the US, RedNote is seen as an alternative.
The investments will be from ZGC Science City’s $1.4b third fund.
The round includes a $53 million all-equity Series C2 raise.
Sumitomo Corporation and Iberis Capital backed the round.
The round was led by Nandan Nilekani’s Fundamentum Partnership.
