Inflexor Ventures secures Rs 400 crore in first close of Fund III to back early-stage tech startups
Venture capital firm Inflexor Ventures has secured commitments of Rs 400 crore in the first close of its third fund, which has a target corpus of Rs 1,250 crore.
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The Inflexor Technology Discovery Fund is anchored by the Self-Reliant India Fund, HDFC Asset Management Company and HDFC AMC Select AIF Fund of Funds. International institutional investors have also participated in the fund.
Fund III will invest primarily in science, engineering and technology-led start-ups at the pre-Series A and Series A stages.
Inflexor plans to make initial investments of between Rs 15 crore and Rs 45 crore and build a portfolio of 22 to 25 companies.
The firm said the fund will retain its sector-agnostic investment approach and focus on businesses using differentiated technologies with high barriers to entry. It will place greater emphasis on Series A investments than Inflexor’s previous funds.
“India’s innovation ecosystem has reached an inflection point,” said Venkat Vallabhaneni, founder and managing director of Inflexor Ventures.
“We’re seeing a growing pipeline of globally ambitious companies built on differentiated science, engineering and technology, creating a compelling opportunity to partner with founders earlier in their scaling journey. Fund III reflects our conviction in this opportunity and our commitment to being long-term partners to exceptional founders,” he said.
The fund has started deploying capital and expects to announce its first investments in the coming weeks.
The firm was founded by Vallabhaneni, Jatin Desai and Pratip Mazumdar. It manages about Rs 1,300 crore in assets and has invested in more than 25 technology companies.
Its portfolio includes Atomberg, Bellatrix Aerospace, CloudSEK, CredFlow, Kale Logistics and PlayShifu.
