Pantomath announces closure of India Inflection Opportunity Fund, secures Rs 500 Cr

Pantomath Financial Services Group has announced the closure of its pre-IPO fund called the India Inflection Opportunity Fund (IIOF), having raised a sum of Rs 500 crore ($60 million).

IIOF intends to capitalise on investment opportunities, specifically targeting pre-IPO stages in Indian growth-stage enterprises.

Launched in April 2022, the Category II Alternate Investment Fund (AIF) is managed by Pantomath Capital Management Private Limited.

With this fundraise, the Pantomath Financial Services Group currently has a total of Rs 2,500 crore under its supervision. In addition to the AIF, the Group offers Portfolio Management Services (PMS), global advisory services, and basket investing to various investors. 

“India Inflection Opportunity Fund is focused on under-researched family-owned businesses which are on a rapid-growth trajectory. We would like to focus on a huge addressable market opportunity avoiding ventures with negative cash flows and bleeding balance sheets," Madhu Lunawat, Chief Investment Officer, India Inflection Opportunity Fund, said in a statement.

The IIOF has garnered investments from domestic sovereign funds, global and domestic family offices, anchor investors, and high-net-worth individuals.

The closure of the IIOF aligns with a phase of heightened economic resilience in India, strengthening its position as an investment hub, according to the statement. The country is expected to see Initial Public Offerings (IPOs) worth over $9 billion in the second half of 2024.

IIOF says it will focus on three themes: Make in India, Rural Consumption, and Impact Investing.

“We are investing in companies that are delivering on Made in India promise to global markets, along with looking for businesses that are substituting imports and fostering exports, that supports India’s vast rural consumption," Lunawat added.

Deloitte holds the position of the statutory auditor for IIOF.