Bangalore-based Exfinity Ventures closes second fund at $44M


Exfinity has invested in 11 companies from its first fund, mostly in the B2B space

Bangalore-based venture capital firm Exfinity Venture Partners has made the final close of its second fund at Rs.300 crore (approximately $44 million).

According to a press statement, the fund saw participation from CXOs, marquee industrialists, family offices, UHNIs and institutions invested in this .

Exfinity was started in 2013 by industry veterans such as TV Mohandas Pai, Deepak Ghaisas, Girish Paranjpe, Balakrishnan V, and Rajiv Kuchhal. The fund mainly invests in Indian companies with a focus on US market. Its preferred verticals are cloud, analytics, mobility, Artificial Intelligence, Internet of Things, and cyber security.

“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,” said V. Balakrishnan, Chairman, Exfinity.

Shailesh Ghorpade, Managing Partner and CIO said: “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.”

Exfinity has made 11 investments from its first fund in verticals including AI, energy optimisation for data centres, cyber security, video streaming, video and real time data analytics, marketing automation and B2B marketplace.