Residential real estate platform Neoliv has raised more than Rs 300 crore in the first close of its maiden Alternate Investment Fund (AIF). The funds will be deployed for development of middle-income residential properties in Mumbai MMR, Delhi NCR, and plotted opportunities. However, around 50 percent of the capital will be allocated to plotted development.

NeoLiv is exploring opportunities for plotted developments in tier-II cities like Sonipat, Lucknow, Panipat, Jaipur, Alibaug, and Nashik, and considering villa and low-rise projects in Mumbai and Gurugram. It has identified land parcels in Delhi and Mumbai, and expects to finalise a deal in the next few months.

Further, NeoLiv aims to launch 10 residential projects in the next two years, with a mix of six plotted and four group housing projects, primarily in Delhi-NCR and Mumbai.

The maiden fundraise of NeoLiv, registered as category II AIF, attracted interest from ultra-high net worth investors and family offices across India, and roadshows were organised in major cities including Mumbai, Delhi-NCR, Kolkata, and various other cities.

Backed by 360 One, NeoLiv operates as an integrated residential platform that combines a fund management business with a development arm.