Early-stage venture capital firm Inflexor has announced the first close of its targeted ₹350-crore Opportunities Fund at ₹280 crore.
HDFC AMC Select AIF FoF I Scheme managed by HDFC AMC is the dominant LP in the fund. The Fund has raised additional capital domestically from new limited partners (LPs) that are across HNIs, family offices, corporates, and other institutions.
The fund achieved the first close last month for around 80per cent of the target corpus. The final close of the fund is expected by the end of the month.
This transaction has generated industry leading returns and liquidity for all its existing Fund-I investors, including IDFC Ltd, Sumankant Munjal Family Office and other marquee investors, through a full portfolio sale of assets.
Part of the target corpus of the opportunities fund can be allocated over the next 3-5 years to maintain or increase stake in these portfolio companies.
“We are happy to announce this unique transaction wherein we have achieved a portfolio sale of assets of our first fund and generated liquidity for all our first fund LPs. The first close within 6 months, bolstered by a sizeable investment from HDFC AMC, underscores strong investor confidence in the underlying portfolio,” said Pratip Mazumdar, Partner at Inflexor.
Inflexor currently claims to manage ₹1,000 crore in assets and has invested in 26 technology companies. The firm is deploying capital from its second fund raised in 2021 and has invested in companies including Kale Logistics, Atomberg, PlayShifu, ClickPost, BioPrime, and several others.
Inflexor also exited one of their second fund’s portfolio companies Steradian Semiconductors to a Tokyo-listed strategic Japanese company.
Other VC firms have also announced closure of their funds recently. Climate-focused Avaana Capital marked the final close of its early stage fund at $135 million in October 2024. Titan Capital closed its new opportunities fund at ₹333 crore in October 2024.