PixelSky Capital launches Rs 400 Cr late-stage fund

PixelSky Capital, a secondary fund founded by investment bank IndigoEdge and entrepreneur Hitesh Ahuja, has launched its first investment vehicle with a target corpus of Rs 400 crore to back late-stage tech and consumer companies. Ahuja had sold his foodtech startup Yumlane to Curefoods in 2023.

The fund has already backed beauty retailer Purplle and is likely to close its second investment by June, one of the sources said. The firm will invest in eight companies that are planning to go public within a 36- to 48-month horizon, with average cheque sizes of Rs 40–50 crore.

PixelSky’s founders have jointly invested Rs 10–15 crore in the fund, which is also raising capital from domestic family offices and unicorn founders. The fund is expected to close by March 2026.

IndigoEdge joins a growing list of investment banks focused on new-economy deals that are starting their own funds.

IndigoEdge states that it has been making proprietary investments from its balance sheet and has acted as a limited partner in 8–10 venture capital funds, investing Rs 25–30 crore so far. With PixelSky, it aims to offer investment products in addition to the services it already provides, having facilitated over 150 transactions worth around $3 billion.

Along with Ahuja, a former senior executive at private equity firm New Silk Route, IndigoEdge cofounder Zerin Rahiman will be leading the fund.

PixelSky Capital plans to evaluate around 20 companies across various tech and consumer sectors, from which it will finalize eight investments.