Inflexor Ventures, an early-stage tech-focused venture capital fund, has raised Rs 600 crore toward the final close of its new fund, thanks to oversubscription from domestic institutional investors.

According to senior fund officials, the total fundraise has surpassed the initial target of Rs 500 crore and includes a Rs 100 crore green shoe option.

Inflexor Ventures is a sector-agnostic venture capital firm based in Mumbai, Bangalore, and Hyderabad that invests in early stage companies from seed to Series-A+.

The fund will invest in startups that leverage technology IP/innovation in industries such as health-tech, fin-tech, consumer-tech, clean-tech, edu-tech, deep-tech, and agri-tech, among others.

Inflexor joins a slew of rupee funds that have recently raised capital from domestic investors. SBICap Ventures, SIDBI (from the Fund of Funds for Startups), Suman Kant Munjal's family office Suryam, and other family offices and ultra-high-net-worth individuals (HNIs) have also invested in the new fund.

It plans to invest in pre-Series A to Series B rounds, with initial checks ranging from Rs 5 crore to Rs 20 crore. It will also increase its investments in portfolio companies that have performed well.

In August of last year, the fund raised Rs 230 crore for its first close.
Over the next three to four years, the fund plans to invest in approximately 25 startups.

Inflexor Ventures, founded in 2019 by Venkat Vallabhaneni and Jatin Desai, has so far invested in four startups from its fund:

Steradian is a company that creates AI-powered surveillance systems for self-driving cars, PlayShifu is a company that creates augmented reality-based educational technology toys, Vitra.ai is a platform for AI-powered content translation and Kale Logistics is a logistics technology company that uses AI and blockchain.

The fund is also working on 2-3 other late-stage transactions, which will most likely be announced soon. “We aim to invest in seven to eight companies per year,” says, Vallabhaneni.