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

The venture capital firm will use the fund to acquire its entire first portfolio of funds, providing exits to investors such as IDFC Limited.

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

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 million dollars).

According to the venture capital firm, it has raised additional capital from domestic limited partners (LPs), including HNIs, family offices, corporations 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 in which we have achieved a portfolio sale of assets from our first fund and generated liquidity for all of our LPs from the first fund. The first closing in six months, driven by sizeable investment from HDFC AMC, underlines the 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.

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

The venture capital 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 company typically invests between INR 5-20 Cr in seed rounds for Series A.

According Inc42 SaaS Startup in India Ecosystem Report 2024, Indian SaaS startups raised $915 million in H1 2024, up 33% YoY from $683 million in H1 2023.

Meanwhile, other venture capital firms have also recently announced the closure of their funds.

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

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