India Inflection Opportunity Trust (IIOT), managed by Pantomath Capital Management, on Monday said it has raised Rs 1,000 crore ($119 million) for its second fund Bharat Value Fund (BVF) of Rs 2,000 crore to back pre-IPO companies in India.
The firm said that the Rs 2,000 crore includes a greenshoe option of Rs 1,000 crore and received commitments of Rs 1,000 crore so far.
BVF aims to capitalise on pre-IPO investment opportunities in Indian growth-stage enterprises.
Founded by Madhu Lunawat in 2013, Mumbai-based Pantomath launched its first fund under IIOT, the India Inflection Opportunity Fund (IIOF), of Rs 500 crore in 2022. It has completed its deployment in eight companies. The fund is backed by the sovereign funds, global investment firms, and leading Indian family offices.
BVF is designed to capitalise on the massive demographic opportunities in the mid-market segment that the Indian economy presents, Lunawat said in a statement.
Some of IIOF’s investments include flexible workspace provider Incuspaze; maker of cookies and biscuits Nurture Well; Vardhman Group, a manufacturer of consumer appliances; and consumer electrical firm Silver Consumer Electricals, among others.
