Avenue Venture Partners Investment Adviser LLP (AVP) is a Real Estate Private Equity Firm in India, and Real Estate investing is our only business. AVP, owned and managed by professionals, has fully aligned interests among portfolio companies, limited partners and general partners.
VINTAGE
49 MONTHS
FUNDS RAISED
1 (₹250 Crores)
INVESTED
₹285 Crores
INVESTMENT
10
EXITS
4
Philosophy
Partnership mind set
Partnering and nurturing a long-term relationship with superior management teams of companies poised at a growth trajectory is one of our prime objectives.
Alignment of Interest
Structuring a good risk reward structure, which facilitates a complete alignment of interest between the Fund and the development partner.
Transparency
Complete transparency and presenting data in a format, which apprises Limited Partners of the fund progress and detailed progress of each investment. This approach supports accountability, ethical business conduct and a sense of responsibility towards our goals and targets.
Fund Strategy
Execution track record
>a million sqft
Partner Track Record
Primarily in Mid Income &
Affordable Housing
Investment Segment
₹30 Cr to ₹90 Cr
Fund Investment Size
Acquire land with
the Developer
Stage of Acquisition
Bangalore, Chennai,
Pune, MMR & NCR
Target Locations
50% - 80%
Fund Investment Ratio
2 - 5 years
Fund Investment / Project Duration
Exit through project
cash flows
Exit Planning
Incremental Returns to
Developer on Exit
Alignment of Interest
Ben Salmon
Development Partners
Ben Salmon, CEO
Assetz Property Group
since 2006
BangaloreBangalore
Rohan
Development Partners
Suhas Lunkad, CMD
Rohan
since 1993
BangaloreBangalore & Pune
BBCL
Development Partners
K.R. Anerudan, MD
M. Arunkumar, MD
(L-R)
CASA GRANDE
since 2003
ChennaiBangalore, Chennai & Coimbatore
BBCL
Development Partners
Ananth Vummidi, MD
BBCL
since 1986
ChennaiChennai
Ben Salmon
Development Partners
Sushant Jadhav, MD
Abhijit Jagtap, Director
Amit Jagtap, Joint MD
(L-R)
Skyi
since 2003
PunePune
Ben Salmon
Development Partners
Sachin B Kulkarani, MD
Nithin B Kulkarani, Director
(L-R)
Vastushodh
since 2004
PunePune
Developer Facts
LOCATIONS VINTAGE DELIVERED (SQ FT) EMPLOYEES
BANGALORE CHENNAI PUNE
9 Years
Youngest company
28 Years
Oldest company
1 Million sq. ft.
Minimum Area
6.7 Million sq. ft.
Maximum Area
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
Lowest
number of employees
Highest
number of employees
AVP Investments
Last updated - September'16
ASSETZ
East Point
Nov' 12  location_icon Bangalore
7,80,000 sqft
EXITED
EXIT ON NOV' 13
62% IRR
1.51X MM
(pre-tax)
11 MONTHS
ASSETZ
Marq
Mar' 13  location_icon Bangalore
28,00,000 sqft
EXITED
EXIT ON FEB' 15
~34% IRR
1.73X MM
(pre-tax)
23 MONTHS
CASA GRANDE
Aldea
Apr' 13  location_icon Chennai
2,40,000 sqft
EXITED
EXIT ON JUN' 14
74% IRR
1.80X MM
(pre-tax)
13 MONTHS
BBCL
Stanburry
June' 13  location_icon Chennai
1,24,400 sqft
SALES & EXECUTION STAGE
48% Project sold
Construction - In progress
39 MONTHS
SKYI
Manas Lake
Aug' 13  location_icon Pune
10,47,700 sqft
SALES & EXECUTION STAGE
42% Project sold
20% Increase in saleable
area
Construction - In progress
37 MONTHS
ROHAN
Iksha
Sep' 13  location_icon Bangalore
7,20,000 sqft
SALES & EXECUTION STAGE
30% Project sold
Construction - In progress
37 MONTHS
VASTUSHODH
Anandgram
Oct' 13  location_icon Pune
9,38,600 sqft
SALES & EXECUTION STAGE
60% Project approvals in
place
50% Increase in project
saleable area
MAR 2015 - Project launch
18 MONTHS
CASA GRANDE
Cherry Pick
Feb' 14  location_icon Chennai
5,33,000 sqft
EXITED
EXIT ON AUGUST' 15
~38% IRR
1.62X MM
(pre-tax)
18 MONTHS
ASSETZ
Clover Greens
July' 14  location_icon Bangalore
12,69,000 sqft
SALES & EXECUTION STAGE
5% Project sold
Site infra - In progress
9 MONTHS
Casa Grande
Uptown
Feb'15  location_icon Chennai
7,84,000 sqft
SALES & EXECUTION STAGE
performance
Performance
NAV OF THE FUND
(pre-tax)
AVERAGE RETURNS FROM EXITS
(pre-tax)
 %
IRR
 
MM
CASHFLOW FROM EXITS
(pre-tax)
TOTAL
 %
(₹164 Cr)
38% CAPITAL (₹96 Cr)
27% PROFITS (₹68 Cr)
Projects Facts
PROJECT STAGE
9%
Planning & Approval Stage
57%
Sales & Execution Stage
34%
Exited
LOCATION
42%
Bangalore
36%
Chennai
22%
Pune
SEGMENT
7%
Low cost & affordable
77%
Mid Segment
16%
Premium Segment
Team
17 years of R.E experience
Jagannath Shetty
Partner & Chief Executive Officer
Jagannath Shetty spearheads the overall strategy and operation of the fund with specific focus on deal structuring, investment process and post investment controls. In the investment process he ensures that every deal fits in the fund's investment criteria both in terms of financial and diligence standpoint.   
10 years of R.E experience
Akshay Dewani
Partner & Chief Investment Officer
Akshay Dewani leads overall Investment function of fund and is also responsible for Investor Reporting & Relationship. He is responsible for identifying the development partners with a partnership mind-set, deliberating and deciding upon terms of partnership and then identifying and closing proprietary deals with the selected partners.   
6 years of R.E experience
Saurabh Nolakha
Senior Associate - Investments
Saurabh Nolakha, as a part of the investment team is in charge of deal analysis and due diligence coordination. Post deal, he is responsible for monitoring the performance of development partners through appropriate reporting system and seamless interaction with the development partners.   
4 years of R.E experience
Amit Kedia
Sr. Manager - Finance
Amit Kedia is responsible for accounting, taxation and compliance functions of the fund. He, also overseas adherence by investee companies to various compliance requirements.
Team Facts
5 YEARS
PARTNERS EXPERIENCE WORKING TOGETHER
35 YEARS
COMBINED REAL ESTATE
75%
CHARTERED ACCOUNTANTS
CFO, Entrepreneur,Valuation
& Audit, Investments
VARIOUS PREVIOUS BACKROUNDS
The AVP
Process
Identifying the right partner   openclose
  • Partner assessment
  • Putting in place the investment terms
  • Setting the deal sourcing parameters
Deal sourcing with the identified partner & Evaluation by the Investment Team   openclose
  • Location
  • Market Analysis
  • Regulatory climate
  • Preliminary title flow
  • Financials
Negotiating investments terms & Term Sheet signing   openclose
  • Financial understanding
  • Conditions precedent to closing
  • Regulatory climate
  • Operating terms
  • Other terms
In principle Investment Committee (IC) Approval   openclose
  • Detailed note to the IC covering in-depth understanding of developer, terms, location, market analysis, business plan, SWOT etc.
  • Obtaining in-principle approval subject to Due diligence
Detailed due diligence & Transaction documents   openclose
  • Title of the property
  • Regulatory
  • Market Analysis
  • Financials
  • Tax structure
  • Negotiating the transaction documents
Final Investment Committee approval   openclose
  • Presenting the due diligence findings
  • Detailed financial analysis
  • Obtaining final approval from investment committee
Transaction closure   openclose
  • Compliance of all the condition precedents
  • Execution of transaction documents
  • Remittance of funds
  • Acquisition of the Asset/ Property
  • Lodging of the transaction documents with a custodian
Project monitoring   openclose
  • Involvement in planning to ensure adherence to the business plan
  • All inflows in joint bank account
  • Periodic reporting
  • Fixing of reserve price for sales
  • Adherence to project milestones
Exit   openclose
  • Through project cash flow
  • Strategic equity sale
  • Buy back by the developer
Avenue Venture Partners Investment Adviser LLP
905, Hallmark Business Plaza
Sant Dyaneshwar Marg
Bandra (East)
Mumbai - 400 051
+91 22 2645 0010