Development and growth equity fund research profile
Welspun One Logistics Parks Fund 2 is a domestic Category II AIF investing in new-age industrial and logistics real estate across India. The manager reports Fund 2 commitments across eight Grade-A assets and names the project formats and locations that form the attributable public set: Proxima Bhiwandi, Proxima Devanahalli, Pulse WTC Thane and Gateway JNPA.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Welspun One Logistics Parks Fund 2 uses a development and growth equity; industrial and logistics real estate approach across Warehousing, logistics parks, urban distribution centres.
Current evidence
Welspun One’s April 2025 official release documented INR 2,300 crore construction financing for its JNPA logistics park, while its February 2025 Fund 2 update stated that the vehicle was 100% committed across nine Grade-A assets and launched a separate co-investment programme.
Strategy
Development and growth equity; industrial and logistics real estate
Sector focus
Warehousing, logistics parks, urban distribution centres
AIF structure context
Indian private equity, growth, buyout and many real-asset strategies are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
Welspun One’s April 2025 official release documented INR 2,300 crore construction financing for its JNPA logistics park, while its February 2025 Fund 2 update stated that the vehicle was 100% committed across nine Grade-A assets and launched a separate co-investment programme.
Investor questions
Welspun One Logistics Parks Fund 2 is covered in Rupeia's private equity research universe. The current public record describes the strategy as Development and growth equity; industrial and logistics real estate, with a sector focus of Warehousing, logistics parks, urban distribution centres. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to Welspun One Logistics Parks Fund 2 in the reviewed public sources: Proxima, Bhiwandi; Proxima, Devanahalli; Pulse, World Trade Centre – Thane; Gateway, JNPA. It does not represent a complete current portfolio unless the manager has published one.
The manager reports that Fund 2 was fully committed within eight months of final close and tracks a mark-to-market gross return of approximately 24% equity IRR; audited vehicle-level net returns and realised distributions are not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: INR 2,275 crore including co-investment commitments; initial close INR 500 crore and final close/green-shoe disclosures are public.. Public terms or access information: Category II AIF for Grade-A warehousing, port-based logistics and urban distribution assets; fund-level term, fees, carry, hurdle and waterfall are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Anshul Singhal (Co-founder & Managing Director); Balkrishan Goenka (Chairman, Welspun World); Ashish Puri (Chief Investment Officer); Nitin Khandelwal (Chief Financial Officer). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review entry valuation, leverage, governance rights, concentration, execution of the value-creation plan and exit timing. The current open diligence point is: The manager does not publish the complete Fund 2 SPV schedule, vehicle-level net returns, fees/carry or current subscription terms. The named assets are limited to projects that the manager’s Fund 2/capital pages or fund-linked announcements identify; broader Welspun One platform assets are not automatically attributed to Fund 2..
2025-04-07: Welspun One’s April 2025 official release documented INR 2,300 crore construction financing for its JNPA logistics park, while its February 2025 Fund 2 update stated that the vehicle was 100% committed across nine Grade-A assets and launched a separate co-investment programme.
Next step
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