Exfinity Venture Partners (Exfinity), a technology venture capital firm, has announced the final close of its second fund – Exfinity Technology Fund – Series II, with a corpus of Rs. 300 crores. The Fund is fully subscribed and investors include CXOs, Marquee Industrialists, Family Offices, UHNIs and Institutions.
This is Exfinity’s second fund which followed its first fund that earlier raised Rs. 125 crores. With this close, Exfinity’s total AUM across funds now stands at Rs 425 crores.
Exfinity is a deep technology venture capital fund backing B2B companies mainly in the US-India corridor. Exfinity’s investments are predominantly focused on emerging areas in technology including Cloud, Analytics, Mobility, Artificial Intelligence, Internet of Things, Cyber Security, etc.
Speaking at the final close, V. Balakrishnan, Chairman Exfinity Venture Partners LLP 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; resulting in the increase of our fund size to Rs. 300 crores from the initial planned size of Rs. 250 crores. 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 of Exfinity Ventures 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, organization design, Go-To-Market decisions, Capital raising, etc., which entrepreneurs appreciate” added Shailesh Ghorpade.
“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 start-ups,” emphasized Partner & Chief Technology Officer, Mr. Chinnu Senthil Kumar.
In May 2016, Logistics management platform, Locus had raised $2.75 million in Series A funding led by Exfinity Venture Partners with participation from Blume Ventures, BeeNext and Rajesh Ranavat (MD, Fung Capital). And in September this year, Chennai-CA based artificial intelligence startup Mad Street Den Systems Pvt. Ltd secured an undisclosed amount in a Series A funding round from Sequoia Capital India and its existing investors Exfinity Venture Partners LLP and GrowX Venture Management Pvt. Ltd.