Singapore’s Growtheum Capital Partners (GCP) has announced a Rs 500-crore ($55m) strategic investment in India’s Wonder Home Finance Limited, a RK Group-backed affordable housing finance company.
The investment is aimed at supporting Wonder Home Finance’s expansion across the country and strengthening its capital base to fund future growth.
Founded in 2017, Wonder Home Finance is a Jaipur-headquartered affordable housing finance company operating through a network of 136 branches across 12 states with a growing pan-India presence.
The company focuses on providing accessible and affordable home loans while maintaining a strong emphasis on customer satisfaction and asset quality. It is promoted by the RK Group of the Patni family, known for its presence in the marble and cement sectors through the RK Marble and Wonder Cement brands.
Wonder Home Finance claims that it has recorded ~70% CAGR over the last five years, growing its assets under management to over Rs 3,000 crore.
“This partnership reflects our strategy of backing high-quality, scalable businesses backed by reputable management and shareholders. Affordable housing finance has emerged as a compelling sub-segment within retail lending and offers a secured lending opportunity backed by self-occupied residential assets. Our investment in Wonder Home Finance allows us to partner with a like-minded promoter and management team to support its next phase of growth,” said Amit Kunal, Managing Partner at GCP.
Wonder Home Finance Limited is an India-based affordable housing finance company providing secured mortgage solutions to middle-income and emerging homebuyers.
The company focuses on customers with informal and semi-formal income profiles and operates through a growing branch network across multiple states, supported by standardised underwriting, centralised risk management, and technology-enabled processes.
Growtheum Capital Partners is a private equity firm targeting investments in Southeast Asia and India. In January last year, DealStreetAsia reported that Singapore’s Growtheum Capital Partners is considering raising around $600 million for the second instalment of its private equity fund focused on Asia’s emerging markets.
Founded by former GIC executives Amit Kunal and Koon Po Choo in 2021, Growtheum closed its debut fund at $567 million, lower than its initial target of $600-800 million, in August 2023 amid one of the toughest fundraising cycles in the PE industry.
Growtheum Capital Partners invested around $121 million in Mets Logistics, a Filipino cold-chain company last year. Its portfolio includes Indonesia’s e-grocery platform AlloFresh, digital lender Bank Allo, hospital group Mitra Plumbon Healthcare Group, Indonesia’s KIN Dairy, and Vietnamese dairy producer International Dairy Products.
