Welspun One Logistics Parks (WOLP), a Mumbai-based company, announced the completion of its second Alternative Investment Fund (AIF), WOLP Fund 2, which raised Rs 500 crore from domestic high net-worth and family office investors in just eight weeks.

The WOLP Fund 2 was introduced in March 2023 with a goal of raising Rs 2,000 crore, including a Rs 1,000 crore greenshoe option. The fund will invest in projects that require an investment of more than Rs 6,000 crore in addition to project-level debt. Over the following four to five years, the fund will add 10 to 12 million square feet of new projects to this footprint, bringing the overall portfolio of Welspun One to 16 to 18 million square feet.

The WOLP Fund 1, which was first presented in early 2021 and has since been completely committed across a portfolio of six projects spanning all of India and totaling 6.5 million square feet of grade A warehouse and industrial space, has been replaced by the AIF. Welspun Group Chairman Balkrishan Goenka stated that Welspun One is dedicated to offering India best-in-class warehouse and industrial real estate to realise the government's vision under the National Logistics Policy of reducing logistics cost as a percentage of GDP to globally competitive levels.

"We are pleased to witness an exceptional investor response, as the first round of WOLP Fund 2 successfully closed at Rs 500 crore within a remarkable eight-week timeframe, which is sort of a record in the alternative investments space," Anshul Singhal, managing director, WOLP, stated. This accomplishment shows not just the high degree of confidence and trust that investors have placed in WOLP but also the expanding depth of money that domestic investors are making available and their willingness to support cutting-edge concepts and infrastructure.