Inflexor Ventures (1), a venture capital firm, raised 230 crore INR, marking the Inflexor Technology Fund first close. The fund’s target corpus is 500 crore INR along with the ancillary INR 200 crore green-shoe option.
Inflexor Ventures is a VC firm, and it has offices in Hyderabad, Mumbai, and Bengaluru, that invest in technology startups at their early stage.
The fund, launched in early 2020, claims to have drawn significant interest from limited partners. Also, the capital has been high in the midst of the COVID-19 crisis. Investors in the fund include SBICap Ventures, some of India’s marquee family offices, SIDBI, and ultra-rich individuals.
The fund will invest around 5-7 crore INR on 3-4 shortlisted firms based on performance, growth, and capital requirements. It will back business-to-business (B2B) and enterprise startups in health-tech, consumer-tech, edtech, fintech, deep-tech, cleantech, and agritech.
Managing Partners of the Fund on Inflexor Venture
Venkat Vallabhaneni, the managing partner, said they see a massive opportunity for emerging new-age Indian technology companies. And with the availability of a young talent pool and the entrepreneurial spirit of founders, it rises further high.
Vallabhaneni also sees a slow recovery in the healthy ecosystem with newer opportunities opening up in technology-led sectors. These are apparent in sectors like ed-tech, healthcare, cleantech, and others. And the valuations too seem to have been corrected by 10-15%.
Jatin Desai added that managing partners had seen an increasing focus on digitization and technology innovation globally. Moreover, it is going to accelerate peculiarly in India in the current environment.
They want to identify the right technology startups at their early stage. The firm seeks to help those startups to scale up in India and sell to global markets. In this process, hopefully, the firm makes some decent returns for its investors, he added.
Further, Desai said that the late stage funding activity had impacted given the disruption in the last few months. But the early-stage funding is relatively unimpacted.