National, 8th Sept, 2020 : Inflexor Technology Fund, a SEBI registered early stage technology-focused VC fund has marked the first close at INR 230 Crore. The fund has a target corpus of INR 500 Crore (plus green-shoe option of INR 200 Crore) which it plans to raise over the next few months from domestic and international investors. Investors in the fund include SBICap Ventures, SIDBI (from Fund of Funds for Startups), some of India’s marquee family offices and HNIs. The fund, launched in early 2020, has seen significant interest from LPs with the entire corpus being raised in midst of Covid-19.

The sector agnostic fund would make participative investments from Pre-Series A to Series A+ stages in B2B/Enterprise startups leveraging deep tech, technology IP and innovation that solve real life problems, have achieved initial commercial traction preferably with recurring revenue model and have domestic as well as global potential. Some preferred sectors of focus include FinTech, HealthTech, ConsumerTech, Edutech, AgriTech and others along with futuristic sectors like SpaceTech. The fund will write initial cheques from INR 5-7 Crore with follow-on funding of up to INR 15-20 Crore based on performance, growth and capital requirements.

Venkat Vallabhaneni, Managing Partner commented “We see a huge opportunity for emerging new age Indian technology companies given the availability of large young talent pool and the entrepreneurial spirit of founders. Given our experience as entrepreneurs prior to becoming VCs, we can work closely with the founders at an early-stage and guide them in their formative years”.

Jatin Desai, Managing Partner added, “We are seeing increased focus on digitization and technology innovation globally and it’s going to accelerate further particularly in India in the current environment. We want to identify the right technology startups at early stage and help them scale up in India and sell to global markets and in the process hopefully make some decent returns for our investors”.