FractoProp, a real estate-focused fund management company, has received registration from the Securities and Exchange Board of India (SEBI) for the Ridhama Real Estate Fund, a Category II Alternative Investment Fund (AIF). The registration marks a key milestone for the firm as it expands its platform to offer structured real estate investment opportunities to institutional and sophisticated investors.

The fund is targeting a corpus of Rs 50 crore, with a greenshoe option of up to Rs. 75 crore, taking the potential fund size to Rs. 125 crore.

The Ridhama Real Estate Fund will focus on structured credit and equity investments in mid-income and premium residential and commercial real estate projects across high-growth micro-markets within the Mumbai Metropolitan Region (MMR). The fund is expected to typically deploy investments in the range of Rs. 10–12 crore per project, supporting developments with strong fundamentals and credible developer partners.

The strategy will target capital-efficient development opportunities while maintaining a risk-conscious investment approach supported by appropriate collateral and security structures.

Commenting on the development, Dhaval Thakkar, Sponsor of the Fund, said, “Over the past few years, we have seen increasing demand for structured sources of capital in the real estate sector, particularly for projects in high-growth urban micro-markets. The SEBI registration for the Ridhama Real Estate Fund allows us to take a more structured approach to these opportunities by investing in well-evaluated developments and partnering with credible developers.”

The fund is sponsored by R.D. Brothers Group, a diversified real estate group with over two decades of experience in land acquisition, project development and asset monetisation across Maharashtra, Gujarat and West Bengal.