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Photo: Mint
Photo: Mint

Inflexor Ventures’ new fund marks first close at 230 crore

  • The fund, launched earlier this year, claims to have drawn significant interest from limited partners and capital being raised the midst of the covid-19 crisis

BENGALURU : Venture capital firm Inflexor Ventures has raised 230 crore, marking the first close of Inflexor Technology Fund. The fund’s target corpus is 500 crore along with an additional 200 crore green-shoe option, over the next few months from domestic and international investors.

Investors in the fund include SBICap Ventures, SIDBI, family offices and ultra-rich individuals.

The fund, launched earlier this year, claims to have drawn significant interest from limited partners and capital being raised the midst of the covid-19 crisis. It will back business-to-business (B2B) and enterprise startups in sectors such as healthtech, fintech, consumertech, cleantech, edtech, deeptech and agritech. The fund eyes investment in startups at pre-series A to Series A+ stages.

Venkat Vallabhaneni, managing partner of the fund said, “We see a huge opportunity for emerging new- age Indian technology companies given the availability of large young talent pool and the entrepreneurial spirit of founders."

Vallabhaneni sees a slow recovery happening in the startup ecosystem with newer opportunities opening up in technology-led sectors such as healthcare, ed-tech and others. Valuations too seem to have corrected by 10-15%.

The fund will invest around 5-7 crore on 3-4 shortlistedcompanies with follow-on funding of up to 15-20 crore based on performance, growth and capital requirements.

“We are seeing increased focus on digitization 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 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," managing partner Jatin Desai said.

Desai added that while funding activity at the late stage may have been impacted given the disruption in the last few months, early-stage funding is relatively unimpacted.

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