Our Story

Vitae Capital is a private real estate investment firm with over 14 years of experience in real estate investing, which began in 2011 in Austin, Texas.

Sandeep Shah 

FOUNDER + CEO

Sandeep Shah has been investing in real estate since 2011, starting with single family properties.

In 2013, the first Vitae partnership was formed, with the strategy of buying duplexes, fourplexes, and small apartments. That first Vitae company scaled from 14 to 46 members.

In 2016, Sandeep formed the first entity for an LP position in a development, followed by 7 additional such partnerships.

In 2019, Sandeep formed Vitae Capital as a more efficient vehicle to raise and deploy capital.

As of 2026, there are five Vitae Capital residential funds and one Vitae Capital industrial fund. Vitae Capital has ~300 members in 27 states.

Before shifting careers to real estate, Sandeep was a practicing physician (radiologist), holding multiple leadership positions, including Chief of Staff of Ascension Seton Northwest Hospital (awarded Physician of the Year).

Sandeep graduated summa cum laude from the University of Houston and earned his MD with honors from the University of Texas Medical Branch.

He has spoken at numerous real estate conferences in Texas, Florida, and Rhode Island.

Sandeep has lived in Austin, TX with his wife and two daughters since 2007.

His hobbies include trail running, snowboarding, and spending time on the lake.

Vitae Capital’s real estate investment journey began in 2011 and has demonstrated a consistent trajectory of growth and strategic evolution.

Vitae initially focused on single-family residences, building a strong foundation in acquisitions, before expanding into multifamily investments and scaling its portfolio as part of a broader, disciplined investment strategy.

2013 The Creation

Vitae Real Estate Holdings, LP. $2.3M entity. Matured 2018. 20.5% IRR. 2.69X MOIC.

2015

Vitae Real Estate Holdings II. $420K entity. Matured 2017. 37.9% IRR. 2.23X MOIC.

2016

Vitae Real Estate Holdings III & IV. $2.5M entity. Matured 2022. 8.8% / 6.06% IRR’s. 1.4x / 1.34x MOIC’s respectively.

2017

Vitae Real Estate Holdings V & VI. $1.3M entity. Ongoing.

2018

Vitae Real Estate Holdings VII, VIII & IX. $1.9M entity. Ongoing.

2019 Establishing Fund Model

Vitae Capital I. $3.7M fund. Projected IRR of 12.37% IRR. 1.65X MOIC.

2020

Vitae Capital II. $4.3M fund. Projected 22.8% IRR. 1.77x MOIC.

2021

Vitae Capital III. $17.5M fund. Projected 14.69% IRR. 1.79X MOIC.

2023

Vitae Capital IV. $18.3M fund. Projected 19.68% IRR. 1.82x. MOIC.

2025 June 2025

Vitae Capital V. $12M fund. Projected 23.99% IRR. 1.83X MOIC.

2025 October 2025

Vitae Capital Industrial I. $1.96M fund. Projected 20% IRR. 2.19X MOIC.

2013

Jeff Mayo

CHIEF INVESTMENT OFFICER
Jeff Mayo, Chief Investment Officer at Vitae Capital, professional headshot

Jeff Mayo brings over a decade of professional finance, acquisitions, and development experience. Alongside Sandeep Shah, Jeff is responsible for portfolio strategy, sourcing opportunities, conducting due diligence, and financial modeling in care of Vitae’s growing fund series. Prior to Vitae Capital, Jeff held positions as an analyst, director, and SVP with companies spanning vertically integrated mixed-use urban development, multifamily value add, and single-family rental. Jeff was also with a CPA firm and a publicly-traded infrastructure development company prior to his real estate career. He was licensed as a CPA in 2017 (license not active) and earned a BA, cum laude, from Roanoke College. Jeff, along with his wife and seven children, resides in Fort Worth, TX.

Julia Paneyko

Operations & Investor Relations
Julia Paneyko, Operations and Investor Relations at Vitae Capital, professional headshot

Julia brings a strong background in finance, analytics, and operations, with experience supporting investment decision-making, portfolio analysis, and strategic initiatives. Prior to Vitae Capital, Julia built her career in corporate and commercial banking, holding roles at Bank of Texas and Citi, where she underwrote and managed complex credit relationships, evaluated risk across large transactions, and partnered with senior stakeholders on deal execution and portfolio management. Her experience spans financial analysis, credit structuring, performance monitoring, and client-facing relationship management. Julia is currently pursuing a Master of Science in Business Analytics at SMU Cox School of Business and earned a BA, cum laude, from Elon University. She brings a unique blend of institutional finance discipline and modern analytics capabilities to Vitae Capital’s growing platform. Julia resides in Dallas, Texas.

Investment Advisory Committee

Martin Dolfi 

BELIADE 
Founder & Managing Partner Private Equity & Venture Capital 

Jon Koeppe ​

PEARLSTONE PARTNERS ​
Director of Investments ​

Sean Kubicek ​

KUBE GROUP​
Founder Financial Modeling​

Mike Ramirez ​

R BANK​
EVP Chief Lending Officer Commercial Lending​
Southlake Town Square — Southlake, TX
Vitae Capital IV
Q2 Stadium Arena — Austin, TX
Vitae Capital III
CoOp Farmers Market — Houston, TX
Vitae Capital IV
Brickell — MIAMI, FL
Vitae Capital IV

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