MIRAI JMAC (MIRAI), a leading advisory and growth consulting firm, proudly announces a strategic partnership with Prathamus Ventures, a distinguished vertically integrated fund management company, to lead real estate investments in India. This collaboration establishes an Alternative Investment Fund (AIF) platform in India, focusing on Category 2 AIF to attract funds from Family Offices, HNIs, Super HNIs, and notably, NRI investors, contributing to India’s burgeoning real estate sector.
MIRAI also recently announced the creation of MIRAI Capital Global (MCG) with an initial corpus of US $1.5 billion, followed by MCG’s appointment of distinguished industry leaders to its investment team and advisory board. MIRAI continues to add family office capital to its LP list from Japan Sea and Middle East. US tech leaders, Funds and European family businesses are also working with MIRAI to help scale their current business in UAE creating a fulcrum for the consumption story in India SEA and MENA region.
As of the fiscal year 2021-22, the real estate sector alone contributed approximately 7.3% to the Indian GDP and is poised for significant growth in the coming decade. This partnership underscores MIRAI’s shared commitment to the real estate and infrastructure industry providing strategic partnership, growth management, human resource and investment avenues and fostering sustainable growth in the Indian real estate market.
This collaboration marks a significant stride in scaling up MIRAI’s real estate investments in India while providing essential support to partner firms looking to expand their ventures into the growing India-UAE corridor. MIRAI takes deep interest in governance and qualitative value for NRIs who are investing both personally and bringing their businesses overseas. Prathamus will closely work with MIRAI for developing new leaders in India, SEA and Middle East markets for benefits of NRI investment. The Real Estate Investment Platform is tailored for mid to large real estate developers in India poised for growth, aiming to elevate them into global brands through joint ventures with The Private Office of His Highness Sheikh Ahmed Bin Faisal Al Qassimi (RFO) in the UAE. Emphasizing growth capital, the platform fosters investment and marketing partnerships between targeted real estate developers and RFO, with a sharp focus on the India-UAE growth corridor. Additionally, the partnership will enhance the NRI sales volume of Indian developments, aligning with the Indian government's initiatives to leverage NRI contributions for the nation's growth trajectory.
RFO, with its rich legacy and strategic partnerships facilitated by MIRAI, is poised to explore the potential of introducing branded residences in key metropolitan areas such as Delhi NCR, Mumbai Metropolitan Region (MMR), Pune, and Bangalore. This initiative represents a significant step for RFO into the real estate sector, in line with its vision to provide innovative, high-quality living spaces that meet the demands of modern urban lifestyles. By integrating branded residences into these vibrant urban landscapes, RFO aims to set new benchmarks for luxury living while promoting sustainable development practices and fostering dynamic communities. This strategic move reflects RFO's unwavering commitment to excellence and its ambition to shape the future of real estate in India's most sought-after cities.
Amb. Dunston Pereira, CEO of The Private Office of His Highness Sheikh Ahmed Bin Faisal Al Qassimi, Dubai, United Arab Emirates, shared his thoughts and stated, "The strategic partnership between MIRAI, Prathamus Ventures, and RFO marks an exciting development for the real estate investment landscape. This collaboration reaffirms our commitment to fostering sustainable growth and providing strategic investment opportunities, particularly within the India-UAE corridor. We are confident that this partnership will unlock new avenues for growth and development, contributing significantly to both the Indian and UAE economies."
Pranav Jyoti, Managing Partner of MIRAI JMAC and CIO of The Private Office of His Highness Sheikh Ahmed Bin Faisal Al Qassimi, Dubai, United Arab Emirates, expressed enthusiasm about the partnership, stating, "As we welcome Prathamus Ventures and Mr Ashok Kinha into our fold, we're embarking on an exciting journey to fortify our position in the real estate and infrastructure investment arena. With the expertise of Prathamus Ventures' specialized platform backed by a deeply networked team and strong real estate expertise, we are primed to explore untapped opportunities and diversify our investment portfolios. This collaboration speaks volumes about our dedication to innovation and delivering maximum returns for our stakeholders. Brace yourselves for the transformative prospects that lie ahead as we forge ahead with this dynamic alliance. In addition to the collaboration, the UAE JV setup would forge new avenues for our partners before, during, and post-deployment of the growth capital."
Managing Directors Ashok Kinha and Prashant of Prathamus Ventures Pvt. Ltd. also shared their excitement about the partnership, stating, "We are thrilled to partner with MIRAI JMAC to launch the AIF platform in India and offer investments through existing funds and follow-on AIFs. This initiative represents our shared vision to unlock the potential of the Indian market and deliver exceptional value to investors."
Vinoth Beemjee, Senior Partner of MIRAI JMAC and MIRAI Capital Global, underscored the game-changing potential of this collaboration, stating, "As custodians of our narrative, I am thrilled to steer the ship alongside this pivotal partnership. With Prathamus Ventures as our steadfast ally, we envision a horizon brimming with growth and innovation. Together, we'll explore new frontiers in real estate investment, propelling our collective journey toward unparalleled success. This collaboration signals just the dawn of an exciting chapter, and I eagerly anticipate the transformative impact we'll forge together. Our focus on identifying the hidden gems among India's real estate developers and investing in them through our partnership with RFO is precisely what the market demands. Moreover, it will further integrate the vast NRI population of the UAE and GCC into investing in real estate projects in India."
The partnership between MIRAI JMAC and Prathamus Ventures represents a significant step towards enhancing investment opportunities and driving sustainable growth in the Indian real estate sector. This dynamic alliance sets the stage for innovative approaches and strategic investments that will reshape the landscape of real estate investments in India.