The Kerala-based company that launched the nations first fully Sharia compliant and Sebi registered venture capital fund meant for the real estate sector, launched its second fund here on Wednesday. The company, Secura Investment Management India has roped in Mumbai based Taqwa advisory and Sharia Investment Solutions (TASIS) as the advisor for the fund and IL & FS Trust Company has been appointed as the trustee of the fund.
Our first fund was launched in 2009 and it has been a great success with investors getting more than 25% annual return on investment. The second fund will have a fund corpus of Rs 50 crore and focus on promoting real estate ventures in Kerala, MA Mehaboob, managing director of Secura said. Mehaboob said that sharia based investments have big potential in India but are lacking due to regulatory constraints.