Bessemer Venture Partners, a century-old venture capital fund, has bought a stake in a housing finance start-up founded by Jaithirth ‘Jerry’ Rao and P.S. Jayakumar, former Citigroup employees, for an undisclosed sum.
The company, Home First Finance Co. India Pvt. Ltd, offers small loans to low-income borrowers for buying homes priced between 500,000 rupees and 1.5 million rupees. More details of the American fund’s investment in Home First were not disclosed. WSJ
Vastushodh Projects Private Ltd provides affordable housing for urban poor
“Anandgram is a well-planned micro township that would come up in satellite areas located on highways connected to Pune. This is an effort to provide housing for urban poor, where good quality flats are made available within a range of Rs4 to Rs10 lakh, which comes underaffordable housing,”said Sachin Kulkarni, director, Vastushodh ProjectsPrivate Limited. Mid Day