Inflexor Ventures hits $41.6M first close for new fund
What's the deal? Inflexor VenturesDealroom has a profile for this one. Try Dealroom → has completed a $41.6 million first close for its new fund, backed by the Self-Reliant India Fund, HDFC Asset Management Company (HDFC AMC), and HDFC AMC Select AIF Fund of Funds (FoF).
Why now? The close comes as domestic limited partners (LPs) now account for 52.7% of capital raised by India-focused private equity and venture capital funds, according to industry data cited by the Indian Venture and Alternate Capital Association (IVCA), 360 ONE, and Crisil.
Who's backing it? The Self-Reliant India Fund is a government-backed fund of funds set up to help Indian micro, small, and medium enterprises raise equity capital. It does so through venture capital and private equity funds registered with the Securities and Exchange Board of India (SEBI).
What's next? Inflexor said the fund has begun deployment and expects to announce its first investments in the coming weeks.
Read more: Tech in Asia
Image credit: Generated with Gemini
