Inflexor Technology Fund, a SEBI registered early-stage technology-focussed VC fund, has marked the first close at Rs 230 crore. The fund has a target corpus of Rs 500 crore (plus green-shoe option of Rs 200 crore) which it plans to raise over the next few months from domestic and international investors.
Investors in the fund include SBICap Ventures, SIDBI (from Fund of Funds for Startups), some of India’s marquee family offices and HNIs. The fund, launched in early 2020, has seen significant interest from LPs with the entire corpus being raised in midst of Covid-19.
Venkat Vallabhaneni, Managing Partner, said,
“We see a huge opportunity for emerging new-age Indian technology companies given the availability of a large young talent pool and the entrepreneurial spirit of founders. Given our experience as entrepreneurs prior to becoming VCs, we can work closely with the founders at an early-stage and guide them in their formative years.”
The sector agnostic fund would make participative investments from Pre-Series A to Series A+ stages in B2B/Enterprise startups leveraging deep tech, technology IP, and innovation that solve real life problems, have achieved initial commercial traction preferably with recurring revenue model and have domestic as well as global potential. Some preferred sectors of focus include Fintech, Healthtech, Consumertech, Edtech, Agritech, and others along with futuristic sectors like Spacetech. The fund will write initial cheques from Rs 5-7 crore with follow-on funding of up to Rs 15-20 crore based on performance, growth, and capital requirements.
Jatin Desai, Managing Partner, added,
“We are seeing increased focus on digitisation and technology innovation globally and it’s going to accelerate further particularly in India in the current environment. We want to identify the right technology startups at an early stage and help them scale up in India and sell to global markets and in the process hopefully make some decent returns for our investors”.
Inflexor Ventures is a VC firm with offices in Mumbai, Bengaluru, and Hyderabad that invests in technology startups from Pre-Series A to Series-A+ stages. Inflexor co-founders were early investor in startups like Atomberg, PlayShifu, Entropik, Bellatrix, Cloudsek, Scube, Data Resolve, Chakr, Singularity Dynamics, Verloop, 3rdFlix and SecurAx via their Parampara Fund.
Edited by Megha Reddy
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