PixelSky Capital launches Rs 400 Cr investment vehicle
The secondaries fund will look to invest in eight startups with an average cheque size of Rs 40-50 crore.
PixelSky Capital is launching its first investment vehicle with a target corpus of Rs 400 crore. The secondaries fund is founded by investment bank IndigoEdge and Hitesh Ahuja, who founded Yumlane and later sold it to Curefoods in 2023.
The fund is targeting to back around eight companies that are eyeing public listing in the next three to four years, cashing in on the IPO markets.
PixelSky has already invested in an online beauty and personal care marketplace, Purplle. While the fund is reportedly eyeing tech and consumer startups, it is not fixated on just these segments, according to Ahuja.
“Most of the Indian liquidity stories on the markets are centred around tech and consumer. Because that's really what we've seen over the last four years…but we're not really overly fixated about this because the idea is to look for companies which have matured enough and are ready for the next wave of growth in the public markets. That is the centre focus,” Ahuja told YourStory.
The fund which is targeting to close in March 2026 constitutes primarily of domestic capital.
PixelSky’s entry into the investing ecosystem comes at an opportune time for secondary funds. “IPO markets follow a three to four-year cycle. So we think secondaries in this decade are a very relevant proposition versus any other time. So the timing to us made sense.”
The Indian startup ecosystem has seen a flurry of VC firms coming out with new funds. For instance, Accel raised $650 million for its eighth India fund after successfully exiting companies like Swiggy and BlackBuck through their public listing. On Tuesday, A91 Partners closed its third fund to the tune of $665 million.