Mumbai, July 8 (IANS): Integrated fund and development management platform Welspun One on Monday said it has raised a second fund worth Rs 2,275 crore, inclusive of co-investment commitments, to strengthen logistics infrastructure in the country.

The funds were raised from a diverse pool of approximately 800 Limited Partners (LPs), including high-net-worth and ultra-high-net-worth individuals, family offices, corporates, and domestic institutions.

Combined with ‘Fund 1’, Welspun One's investor base now comprises approximately 1,000 unique investors, it said in a statement.

Welspun One had raised Rs 500 crore as part of its first fund in early 2021.

“Our commitment to advancing critical logistics infrastructure is in perfect alignment with India's strategic objective of reducing logistics costs from 14 per cent to 8 per cent, thereby enhancing the global competitiveness of our industries,” said Balkrishan Goenka, Chairman of Welspun World.

Welspun One’s ‘Fund 2’ has already committed nearly 40 per cent of its investible capital across four investments and anticipates committing the remaining capital over the next 3-4 quarters.

The focus is on "new age" warehousing assets, such as urban distribution centres, cold chain, agro logistics, and port and airport-based logistics, said the company.

“Our progress has been remarkable, having successfully established a well-capitalised platform poised to achieve an asset under management (AUM) of over $1 billion,” said Anshul Singhal, Managing Director, Welspun One.