Mumbai-based venture capital firm Inflexor Ventures on Wednesday announced the first close of its targeted opportunities fund from Rs 350 crore to Rs 280 crore. HDFC AMC Select AIF FoF I Scheme is the lead investor in this fund, which also includes investments from high net worth individuals (HNIs), family offices, corporates and institutions. Final closing is scheduled for the end of November.

The Opportunities Fund will acquire the entire investment portfolio of Inflexor’s first fund, providing liquidity to initial investors such as IDFC and Sumankant Munjal Family Office. Part of the fund’s capital will also be allocated over the next 3 to 5 years to maintain or increase stakes in these companies.

Pratip Mazumdar, Partner at Inflexor, said: “We are pleased to ensure the liquidity of the LPs of our first fund and to achieve the first close of our Opportunities Fund, supported by a substantial investment of HDFC AMC.

Inflexor, which is currently deploying capital from its second fund raised in 2021, has invested in companies including Kale LogisticsAtomberg, PlayShifu, ClickPost and BioPrime. The company recently exited Steradian Semiconductors, a second fund holding company, through a sale to a Japanese company listed in Tokyo.

Founded by Venkat Vallabhaneni, Jatin Desai and Pratip Mazumdar, Inflexor manages Rs 1,000 crore of assets, focusing on early-stage operations. technology-pilot startups in all sectors. Its portfolio includes 26 companies such as Atomberg, Entropik, Bellatrix and CloudSEK.