Exfinity’s investments are focused on cloud, analytics, mobility, AI, Internet of Things, and cyber security
Exfinity Venture Partners, a technology venture capital firm based in Bangalore, has announced the final close of its second fund, with a corpus of INR300 crore (US$44 million).
The fund is fully subscribed and the investors include CXOs, marquee industrialists, family offices, UHNIs and institutions, it said in a statement.
Exfinity’s first fund had a corpus of INR125 crore (US$18 million).
Incorporated in October 2013 by TV Mohandas Pai, Deepak Ghaisas, Girish Paranjpe, Balakrishnan V, and Rajiv Kuchhal, Exfinity backs B2B companies, mainly in the US-India corridor. Its investments are predominantly focused on emerging areas in technology, including cloud, analytics, mobility, Artificial Intelligence, Internet of Things, and cyber security.
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Speaking at the final close, V Balakrishnan, Chairman of Exfinity, said: “Our fund thesis of investing in deep tech product/IP companies in the enterprise technology space resonated well with our investors. We received strong commitments from high quality marquee investors. Our deal flow is proprietary and we have strong conviction about the approach we are taking that is manifested in our fund thesis.”
Shailesh Ghorpade, Managing Partner and CIO opined that Exfinity has a practitioner driven approach towards its portfolio. “Exfinity works closely with the portfolio companies in bringing to bear its network and perspectives on strategy, organisation design, go-to-market decisions, capital raising, etc., which entrepreneurs appreciate.”
“Enterprise technology startups, by virtue of their business, require deep understanding of their domain and seasoned entrepreneurs. Over the years the US-Indo tech corridor has been accumulating this talent pool through various R&D hubs in India, which have emerged as ideal transition spots for B2B startups,” added Partner and CTO Chinnu Senthil Kumar.
To date, Exfinity has made 11 investments in areas including AI, energy optimisation for data centres, cyber security, video streaming, video & real time data analytics, marketing automation and B2B marketplace.
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