Latest news with #IndigoEdge
Entrepreneur
2 days ago
- Business
- Entrepreneur
PixelSky Capital Raises INR 150 Cr in First Close, Eyes INR 400 Cr Fund
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. PixelSky Capital, a secondaries-focused investment fund backed by boutique investment bank IndigoEdge and Yumlane founder Hitesh Ahuja, has raised INR 150 crore in its first close. The fund is targeting a total corpus of INR 400 crore. The firm said that it has already deployed capital into two late-stage startups. It invested around INR 40 to 45 crore each in beauty platform Purplle and logistics company Porter, both valued at about USD 1 billion. PixelSky intends to make at least three additional secondary investments in the coming quarters. Its third deal is expected to be evaluated during the October to December period. The fund is primarily focused on acquiring secondary stakes in new-age businesses that are close to profitability. It is also considering opportunities in firms that may pursue public listings in 2026 or 2027. The target range for investments is in companies valued between USD 300 million and USD 1.5 billion. PixelSky's limited partners include prominent domestic family offices and high-net worth individuals. Among them are the Kothari Family of DSP Group, India Quotient's Anand Lunia, Sony Entertainment Television cofounder Jayesh Parekh, and several startup founders. IndigoEdge co-founder Zerin Rahiman and Ahuja, formerly a senior executive at private equity firm New Silk Route, will jointly lead the fund. Secondary transactions have gained momentum in recent months. Notable deals include a USD 40 million investment by Canada's Ontario Teachers' Pension Plan in HR software unicorn Darwinbox, a INR 480 crore funding round in direct-to-consumer brand The Sleep Company split between primary and secondary, and Porter's USD 200 million secondary round led by Kedaara Capital and Wellington Management.
Time of India
3 days ago
- Business
- Time of India
PixelSky Capital raises Rs 150 crore in first close, targets Rs 400-crore corpus
Synopsis PixelSky Capital, backed by IndigoEdge and Hitesh Ahuja, has secured Rs 150 crore in its first close, targeting a Rs 400-crore corpus. The fund has already invested in Purplle and Porter, allocating Rs 40-45 crore to each at a $1-billion valuation. PixelSky aims to invest in companies valued between $300 million and $1.
Time of India
24-04-2025
- Business
- Time of India
Secondaries specialist PixelSky Capital launches Rs 400 crore late-stage fund
PixelSky Capital , a secondaries fund founded by Bengaluru-based investment bank IndigoEdge and entrepreneur Hitesh Ahuja, has launched its first investment vehicle with a target corpus of Rs 400 crore to back late-stage tech and consumer companies, people in the know said. Ahuja had sold his foodtech startup Yumlane to Curefoods in 2023. The fund has already backed beauty retailer Purplle, and is likely to close its second investment by June, one of the people said. 'The firm will back eight companies that are planning to go public in a 36-48-month horizon with average cheque sizes of Rs 40-50 crore.' PixelSky's founders have together invested Rs 10-15 crore in the fund, which is also raising capital from domestic family offices and unicorn founders, he said, adding that the fund is expected to be closed by March 2026. IndigoEdge joins a list of investment banks focused on new-economy deals starting their own funds. India's largest tech investment bank, Avendus, runs Future Leaders Fund, a late-stage investment vehicle that has backed the likes of Lenskart, Licious, Juspay and FirstCry. Avendus announced the first close of its third Future Leaders Fund at Rs 850 crore in January. It plans to raise Rs 3,000 crore for this fund. Live Events Others including Dexter Capital and Merisis Advisors have also launched their investment vehicles. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'IndigoEdge has been making proprietary investments from its balance sheets and has been a limited partner in 8-10 venture capital funds, having invested Rs 25-30 crore so far. With PixelSky, IndigoEdge aims to have product offerings in addition to services that it provides, having facilitated over 150 transactions worth around $3 billion,' the person said. 'Going ahead, IndigoEdge could launch more such funds, and even look at a wealth management play. However, these plans haven't been finalised yet,' he added. IndigoEdge declined to comment. Along with Ahuja, who is a former senior executive at private equity firm New Silk Route, IndigoEdge cofounder Zerin Rahiman will be leading the fund. Stocking up the dry powder IndigoEdge's plan to double down on investments in new-age companies comes at a time when the venture capital industry has been raising large funds. On Tuesday, A91 Partners announced closure of its largest ever fund with a $665 million corpus . Flipkart and Swiggy-backer Accel closed a $650 million vehicle in January. Over the last one year, there has been increased activity at funds focused specifically on secondary transactions, where they purchase shares from existing investors. Former Peak XV Partners managing director Piyush Gupta launched Kenro Capital in November, while Gurugram-based Oister Global teamed up with Silicon Valley investor Tribe Capital to launch a $500-million secondaries-focused fund in September. 'In India there's an immediate opportunity of $20 billion for secondary deals, where early investors, angels and Esops (employee stock option programmes) would be looking for liquidity…PixelSky Capital is evaluating around 20 companies across various tech and consumer sectors through which it will finalise eight investments,' the person cited above said.
