India’s Inflexor seeks $100m for debut fund
Inflexor Ventures, a recently established venture capital firm, is looking to raise $100 million for its debut fund, which will focus on early-stage deals.
Founded by Venkat Vallabhaneni and Jatin Desai - formerly managing partners at Parampara Capital, a similar vehicle focusing on pre-Series A investments - Inflexor it targeting a first close by the end of June.
Parampara, which was established in 2015, raised a INR1 billion ($14 millon) seed vehicle that has invested in 12 companies including Atomberg, a smart ceiling fan manufacturer, and Play Shifu, a developer of interactive educational video games. IDFC Alternatives, the asset management arm of IDFC, is an LP in the fund.
Before Parampara, Vallabheni and Desai worked for Bank of America's technology department in India. Pratip Mazumdar, an investment committee member at Parampara, will join Inflexor as a founding partner as well.
“We are ready to invest. We are already evaluating companies. We are talking to three domestic institutional investors, three international institutions and a few family offices," Desai told Livemint in an article shared on the company’s LinkedIn account.
“The theme more or less remains the same. We are now a bit more comfortable with consumer tech, otherwise our focus was on business to business (B2B), enterprise, software-as-a-service (SaaS), and business to business to consumer (B2B2C) technology.”
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