Managed Funds up front development investment funds

hi all
I am interested in
is there an investment fund that primarilly invest in the up front costs of a development.
I know that mac does investment funding on comm ususally taking 50%+ of the project but not usually on resi sites.
this is not second tier as most see it or mezzanine funding as that comes in behind the first tier lenders.
this is lending on the up front start money this is the highest risk for a major lender and high return
anyone know of any fund doing this.

 

So you're asking is there a fund that takes equity positions in projects rather than debt funding?

 

hi nigel
either or
usually debt funding is not available until you have put in place the deposit and equity funders only fund on a site to a max of 80% so this type of lending is the difference between the 80% and the 100% of costs.
usually this is [put in place by the developer but in alot of cases there is a short fall and is there a fund that fills this 20% gap.
this is the hardest and most critical part of a development.
I don't know a fund that fills this gap.
interested if nayone knows of such a fund the gap is currently filled by a mix match of funding from short term to private cash investors I am wondering if there is a fund that invests in this very niche market.