Inflexor Ventures raises Rs 400 Cr as first close of Fund III

Early-stage, sector-agnostic venture capital firm Inflexor Ventures has announced the first close of its third fund, securing commitments of Rs 400 crore towards its target corpus of Rs 1,250 crore.

The fund, named the Inflexor Technology Discovery Fund, is backed by anchor investors including the Self-Reliant India (SRI) Fund, HDFC Asset Management Company (HDFC AMC), and HDFC AMC Select AIF FoF (HDFC FoF). It has also attracted commitments from several leading international institutional investors, the firm said in a statement.

Fund III will focus primarily on pre-Series A and Series A investments, with initial cheque sizes ranging between Rs 15 crore and Rs 45 crore. The fund aims to build a portfolio of 22–25 companies.

Following the first close, Inflexor Ventures has commenced deployment from Fund III.

This VC firm had previously raised its Fund 1 in 2016 and Fund II in 2021 and has assets under management (AUM) of Rs 1,300 crore with a portfolio of 27 companies. The startups within its portfolio include Atomberg, Kale Logistics, PlayShifu, Entropik, Bellatrix, Clickpost and Cloudsek.

“India's innovation ecosystem has reached an inflection point. We're seeing a growing pipeline of globally ambitious companies built on differentiated science, engineering and technology, creating a compelling opportunity to partner with founders earlier in their scaling journey,” said Venkat Vallabhaneni, Founder and Managing Director of Inflexor Ventures.

According to this VC firm, Fund III will place greater emphasis on Series A opportunities as the Indian venture ecosystem matures and a growing number of companies demonstrate early product-market fit and global scalability.

Inflexor Ventures believes in backing startups that combine technologies and business models capable of compounding value over a decade or more.