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 approval marks a milestone as the firm 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 total 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 projects across high-growth micro-markets within the Mumbai Metropolitan Region (MMR). It is expected to deploy investments of Rs 10–12 crore per project, supporting developments with strong fundamentals and credible developer partners.

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

“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,” said Dhaval Thakkar, Sponsor of the Fund.

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