Co-founders of Parampara Capital, an early-stage tech-focused venture capital fund, have launched their second fund – Inflexor Technology Fund.
The sector-agnostic technology fund is targeting to raise $100 million including from international investors to back companies leveraging technology IP/innovation across sectors such as healthtech, fintech, consumertech, cleantech, edtech, agritech and others.
Inflexor Ventures, with offices in Mumbai, Bengaluru and Hyderabad, will make 6-8 investments in the first year in early-stage companies that have achieved a basic product-market fit along with early commercial validation. The fund will invest between $500,000 to $1 million, with $2 million-$4 million for follow-on rounds in the portfolio companies, said the company in a press statement.
This strategic move is aligned with larger plans of attracting international capital and also helping their portfolio companies in global expansion.
The Managing Partners of Inflexor – Venkat Vallabhaneni and Jatin Desai have been working together for close to 20 years. Investment Committee member of IDFC Parampara VC fund Pratip Mazumdar has also joined Inflexor as a Partner to strengthen the fund team for the new fund launch.
Vallabhaneni and Desai had earlier co-founded Parampara Capital, an early-stage tech-focused VC firm. Set up in 2015, the Rs 100 crore VC fund was an early investor in startups like Atomberg, PlayShifu, Entropik, Cliudsek, Scube, Verloop, among others.
In the past six-eight months, several VC firms focusing on seed and early-stage startups in India, have been raising new corpus. The list includes Accel India, Indian Angel Network (IAN), DSG Consumer Partners and 3one4 Capital, which have closed their targeted funds.
Besides, a couple of new venture fund for early-stage startup, including Good Capital and Info Edge Venture Fund (IEVF), have also joined the race.