Early-stage venture capital firm Inflexor Ventures raised Rs 280 crore as the first close of its Rs 350 crore Opportunities Fund, raising capital from a diverse set of investors.
In a statement, Inflexor said that HDFC AMC Select AIF FoF I Scheme is the dominant limited partner in the fund. Besides, it also saw participation from HNIs, family offices, corporates, and other institutions.
The VC firm aims to achieve the final close of the fund by the end of this month.
Founded by Venkat Vallabhaneni, Jatin Desai, and Pratip Mazumdar, Inflexor Ventures is a sector-agnostic VC firm managing Rs 1,000 crore of assets under management (AUM) with a portfolio of 26 startups.
According to the VC firm, this transaction has generated returns and liquidity for all its existing Fund-I investors, including IDFC Limited and Sumankant Munjal Family Office through a full portfolio sale of assets.
The VC firm noted that part of the target corpus of the Opportunities Fund will be allocated over the next three to five years to maintain or increase stake in their portfolio companies.
“The first close within six months, bolstered by a sizeable investment from HDFC AMC, underscores strong investor confidence in the underlying portfolio,” said Pratip Mazumdar, Partner at Inflexor.
Inflexor is currently deploying from its second fund raised during 2021 and has invested in companies, including Kale Logistics, Atomberg, PlayShifu, ClickPost, and BioPrime.
It also sold stakes and exited one of its second fund’s portfolio companies Steradian Semiconductors to a Tokyo-listed strategic Japanese company.
Inflexor has been an early investor in startups like Atomberg, Kale Logistics, Entropik, Bellatrix, Clickpost, and Cloudsek.
