After the Union Budget 2017, a lot of positive measures have been taken to strengthen the real estate sector. RERA (the Real Estate Regulatory Act) will also play a key part in establishing trust and ensuring delivery of projects to consumers. According to Mr. Rohit Chokhani, principle founder of White Unicorn Ventures, a massive opportunity is looming in real estate thanks to all of this.
White Unicorn Ventures will be setting aside upto Rs 20 crores for real estate and specifically for companies conducting smart city projects keeping in mind how housing for all is just not limited to affordable housing, but will also extend to technology playing a disruptive role in how these mass housing projects are managed and a consumer will be given a standard experience across the board.
The partners of the fund further feel for greenfield smart city projects, each aspect will see new hardware and software disruption. Transportation is already seeing a transformation; this transformation will be complete when mass rapid transport systems working on clean energy with a lower capital cost will come into existence. Financial disruption will also take place, when loan approvals will be truly online for a consumer.
All this will mean opportunity for new age companies to enhance consumer experience in these sectors especially if they strive to provide all services under one roof, given conducive laws and regulations are passed as proposed by the Centre.
White Unicorn Ventures is an investment firm that specializes in seed funding and early-stage support for startups. Principle Founder Rohit Chokhani’s vision is to play a critical role in building and nurturing the startup ecosystem by helping young entrepreneurs in their early steps, expansion, bridge funding, as well as providing incubation co-sharing start up real estate space.
Specializing in value addition and advisory services the venture has a sector agnostic approach although this time around the 20 crores will be for real estate and smart city projects. The company launched a $20 million fund and has already deployed around $5 million in 2016. The company aims to invest around $5 million this year into 10-12 companies.
In 2015-16, the company has seed funded about 18 companies. Some of them included Routofy, Carcrew, Just Ride, Shaadisaga, HostelHousing, Unstockify, Prime Squares, and Doodle Walls amongst others.