Special Window for Affordable and Mid-Income Housing Fund (SWAMIH) Investment Fund I, sponsored by the government for providing last-mile funding enabling completion of construction of stalled projects, has achieved its first closing at ₹10,530 crore. This Category II Alternate Investment Fund (AIF) has been formed under the Special Window for Affordable and Mid-Income Housing as announced by Finance Minister in September last to provide last-mile funding enabling completion of construction of stalled housing projects, SBICAP Ventures Limited (SVL), an alternative asset manager and a wholly owned subsidiary of SBI Capital Markets Ltd (SBICAP) said in a statement. SVL, which is the Investment Manager for the Fund, estimates that this capital should be broadly sufficient to complete almost one lakh stalled units and release locked up capital of ₹65,000 crore invested in these projects. SBICAP said adding that the Fund has attracted interest from investors such as Government of India, SBI, LIC, HDFC and also from many major public sector banks.
