LICHF To Launch Rs 350cr Fund

Chennai: In order to cash in on the real estate boom, Life Insurance Corporation Housing Finance (LICHF) is set to unveil a new venture capital fund for realty projects. The size of the fund, which is waiting for regulator clearance, is likely to be Rs 300-350 crore. LICHF''s new realty fund is hoped to infuse in residential projects. LICHF had taken a 5 per cent stake valued at Rs 7.5 crore in the new Rs 150-crore credit card arm of LIC, which is likely to start operations in six months. As part of its overseas expansion plans, LICHF will set up a new office in Singapore. Currently, it has branches in Dubai and Kuwait. The first project was launched in Bangalore.