Longtime developer Larry Canarelli and investment banker Viney Singal on Wednesday unveiled their new venture, Capro Capital, saying it will focus on “partnering with top real estate operators and developers nationwide,” with a concentration in the western United States.

“We’ll stay in markets we’re really comfortable with,” Singal, founder of Valtus Capital Group and CEO of the new investment firm, told the Review-Journal.

Backed by Canarelli’s management arm Bruin Capital Partners, Capro boasts $100 million of capital and aims to have $500 million of assets under management for its first fund, according to a news release.

Southern Nevada’s wheeler-dealer real estate market has locally based development firms, brokerages and other companies in the industry. Singal, however, agreed that Capro is one of maybe a few “institutional” real estate investment firms based in Las Vegas.

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