News Column

Exfinity Tech recieves funds worth Rs125 cr

August 9, 2014

Bangalore: Exfinity, the early-stage venture capital fund formed by technology industry veterans like TV Mohandas Pai, Girish Paranjpe, V Balakrishnan and Deepak Ghaisas raised second and final round of money of Rs 125 crore.

The fund is fully subscribed and investors include CXOs, reputed industrialists, family offices, professionals and UHNIs. The fund had announced its first close of Rs100 crores in June this year.

Speaking at the final close, Balakrishnan said, "Our proposition of a practitioner driven fund in funding disruptive technology ideas with high impact strategic interventions has resonated well with the investors. We are excited about the response and have already firmed up a few investment opportunities. The start up space is extremely vibrant and the timing is opportune to invest."

He also mentioned that the fund has signed up four transactions that are in advanced stage of closure.

The fund was started with the idea of helping IT industry executives who wanted to turn entrepreneurs after leaving brands like Infosys and Wipro .

However, later it expanded its scope to invest in any startup that has out-of-the-box idea and potential to scale.

Credit:dna correspondent

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Source: DNA : Daily News & Analysis (India)

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