Venture capital firm Inflexor Ventures has announced the first close of its third fund, Inflexor Technology Discovery Fund, securing commitments of Rs 400 crore against its target corpus of Rs 1,250 crore.
The fund is anchored by the Self-Reliant India (SRI) Fund, HDFC Asset Management Company and HDFC AMC Select AIF FoF, with participation from international institutional investors.
Fund III will invest in science, engineering and technology startups at the pre-Series A and Series A stages. The firm plans to write initial cheques of Rs 15–45 crore and build a portfolio of 22–25 companies.
According to Inflexor Ventures, the new fund will place greater emphasis on Series A investments while continuing its sector-agnostic approach focused on technology-driven businesses with high barriers to entry.
Fund III has already begun deploying capital and expects to announce its first investments in the coming weeks.
Founded by Venkat Vallabhaneni, Jatin Desai and Pratip Mazumdar, Inflexor Ventures manages around Rs 1,300 crore in assets and has backed more than 25 startups, including Atomberg, Bellatrix Aerospace, CloudSEK, CredFlow, Kale Logistics and PlayShifu.
Disclaimer:
Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.