Duane Park Private Limited and Growth Catalyst Partners have jointly invested Rs. 23 crore in Ummeed Housing Finance Private Limited..DealDuane Park Private Limited and Growth Catalyst Partners co-invest in Ummeed Housing Finance Private Limited.ValueAround 23 crore ($3.5 million)Deal TypePrivate EquitySectorHousing FinanceLaw FirmsLakshmikumaran & Sridharan – Duane Park; BMR Legal – Growth Catalyst; IndusLaw – UmmeedPartners/HeadsLakshmikumaran & Sridharan – Anurag Pareek; BMR Legal – Amit Khansaheb; IndusLaw – Avimukt Dar.Lakshmikumaran & Sridharan acted for Duane Park through a team led by Joint Partner Anurag Pareek and supported by Principal Associate Vatsal Gaur and Associate Aishwarya Singh..BMR Legal represented co-investor Growth Catalyst through a team led by Partner Amit Khansaheb..IndusLaw advised Ummeed; the team was led by Partner Avimukt Dar..The funding will boost Ummeed Housing’s expansion plans of providing affordable housing loans to customers having semi-formal or informal incomes..VCCircle reports that the potential of the Indian affordable housing finance segment is pegged at Rs 8.8 trillion (around $135 billion), according to a Monitor-Deloitte study commissioned by World Bank and the National Housing Bank. However, the portfolio of existing affordable housing players is only Rs 6,500 crore (around $1 billion).
Duane Park Private Limited and Growth Catalyst Partners have jointly invested Rs. 23 crore in Ummeed Housing Finance Private Limited..DealDuane Park Private Limited and Growth Catalyst Partners co-invest in Ummeed Housing Finance Private Limited.ValueAround 23 crore ($3.5 million)Deal TypePrivate EquitySectorHousing FinanceLaw FirmsLakshmikumaran & Sridharan – Duane Park; BMR Legal – Growth Catalyst; IndusLaw – UmmeedPartners/HeadsLakshmikumaran & Sridharan – Anurag Pareek; BMR Legal – Amit Khansaheb; IndusLaw – Avimukt Dar.Lakshmikumaran & Sridharan acted for Duane Park through a team led by Joint Partner Anurag Pareek and supported by Principal Associate Vatsal Gaur and Associate Aishwarya Singh..BMR Legal represented co-investor Growth Catalyst through a team led by Partner Amit Khansaheb..IndusLaw advised Ummeed; the team was led by Partner Avimukt Dar..The funding will boost Ummeed Housing’s expansion plans of providing affordable housing loans to customers having semi-formal or informal incomes..VCCircle reports that the potential of the Indian affordable housing finance segment is pegged at Rs 8.8 trillion (around $135 billion), according to a Monitor-Deloitte study commissioned by World Bank and the National Housing Bank. However, the portfolio of existing affordable housing players is only Rs 6,500 crore (around $1 billion).
