Welspun One, an integrated fund and development management platform, announced the successful closure of its second fund amounting to Rs 22.75 billion, inclusive of co-investment commitments. This fundraise marks the largest domestic investment in the warehousing sector, according to the company.  

The capital was secured from approximately 800 Limited Partners (LPs) and investors, including high-net-worth individuals, ultra-high-net-worth individuals, family offices, corporates, and domestic institutions. Welspun One plans to utilise this capital to develop warehousing properties.  Already, Welspun One's second fund has allocated nearly 40% of its investable capital across four investments. Over the next 3-4 quarters, it aims to deploy the remaining capital, which is expected to add 8 million square feet to its existing portfolio of 10 million square feet. This expansion will increase its aggregate portfolio to around 18 million square feet, with a total project outlay of approximately $1 billion.  

The focus of Welspun One's second fund is on new-age warehousing assets such as urban distribution centres, cold chain facilities, agro logistics, and logistics based near ports and airports.  Balkrishan Goenka, Chairman, Welspun World, stated, "Our commitment to enhancing critical logistics infrastructure aligns perfectly with India's strategic goal of reducing logistics costs from 14-8%, thereby enhancing the global competitiveness of our industries."  

Anshul Singhal, Managing Director, Welspun One, added, "Exploring new-age warehousing assets represents an exciting journey for us at Welspun One. With a well-capitalised platform, we are poised to achieve an AUM (Assets Under Management) of over $1 billion."  

Welspun One had previously raised Rs 5 billion in its first fund, which is fully committed with six investments currently under development across five cities. This portfolio includes clients such as Tata Croma, Delhivery, FM Logistics, Asian Paints, and Ecom Express.  Welspun One operates as the warehousing platform of Welspun World, a $5 billion global conglomerate known for its leadership in various sectors including line pipes, home textiles, infrastructure, advanced textiles, and flooring solutions.  

 (Source: Moneycontrol)