Inflexor Ventures Marks First Close Of Fund At INR 280 Cr

Inflexor Ventures Marks First Close Of Opportunities Fund At INR 280 Cr

SUMMARY

Inflexor has achieved first close of its new Opportunities Fund at INR 280 Cr, with HDFC AMC as lead investor

The VC firm will use the fund to acquire its entire first fund portfolio, providing exits to investors including IDFC Limited

The fund has raised 80% of its INR 350 Cr target corpus and expects final close by November end

Technology-focused venture capital firm Inflexor Ventures, which has backed companies like Kale Logistics, Atomberg, PlayShifu, ClickPost and BioPrime among others, has marked the first close of its Opportunities Fund at INR 280 Cr ($33.73 Mn).

As per the VC firm, it has secured additional capital from domestic limited partners (LPs), including HNIs, family offices, corporates and institutions.

The INR 350 Cr Opportunities Fund will acquire the entire investment portfolio of Inflexor’s first fund, generating returns for existing investors, including IDFC Limited and Sumankant Munjal Family Office through a portfolio sale, it added.

“We are happy to announce this unique transaction wherein we have achieved a portfolio sale of assets of our first fund and generated liquidity for all our first fund LPs. The first close within 6 months, bolstered by a sizeable investment from HDFC AMC, underscores strong investor confidence in the underlying portfolio,” said Pratip Mazumdar, partner at Inflexor.

The fund plans to allocate part of its corpus over the next 3-5 years to maintain or increase stake in these portfolio companies.

Inflexor currently claims to manage INR 1,000 Cr in assets and has invested in 26 technology companies. The firm is deploying capital from its second fund raised in 2021..

The VC firm recently exited its second fund portfolio company Steradian Semiconductors through a sale to a Tokyo-listed Japanese company.

Founded by Venkat Vallabhaneni, Jatin Desai, and Pratip Mazumdar, Inflexor focuses on early-stage technology startups across sectors. The firm typically invests between INR 5-20 Cr in seed to Series A rounds.

According to Inc42’s India’s SaaS Startup Ecosystem Report 2024, Indian SaaS startups raised $915 Mn in H1 2024, marking a 33% year-on-year increase from $683 Mn in H1 2023.

Meanwhile, other VC firms have also announced closure of their funds recently.

For instance, climate-focused Avaana Capital marked the final close of its early stage fund at $135 Mn in October 2024, exceeding its initial target of $100-120 Mn. The fund attracted capital from institutions including Green Climate Fund, SIDBI, and Azim Premji Trust.

Similarly, Titan Capital closed its new opportunities fund at INR 333 Cr in October 2024. The fund, backed by Snapdeal cofounders Kunal Bahl and Rohit Bansal, focuses on follow-on rounds in its existing portfolio companies with an average cheque size of INR 15 Cr.