Pantomath Financial Services Group has successfully concluded the fundraising for its pre-IPO fund, the India Inflection Opportunity Fund (IIOF), securing an impressive sum of Rs 500 crore ($60 million). Launched in April 2022, the Category II Alternate Investment Fund (AIF) is managed by Pantomath Capital Management Private Limited and strategically targets pre-IPO stages in Indian growth-stage enterprises.
With this latest fundraising achievement, Pantomath Financial Services Group now oversees a total of Rs 2,500 crore. In addition to the AIF, the group provides Portfolio Management Services (PMS), global advisory services, and basket investing to a diverse range of investors. The focus of IIOF is on under-researched family-owned businesses experiencing rapid growth, steering clear of ventures with negative cash flows and unfavorable balance sheets, as emphasized by Madhu Lunawat, Chief Investment Officer of India Inflection Opportunity Fund.
The fund has successfully attracted investments from domestic sovereign funds, global and domestic family offices, anchor investors, and high-net-worth individuals. The closure of IIOF aligns with a phase of heightened economic resilience in India, solidifying its position as an investment hub, according to the official statement. The country is anticipated to witness Initial Public Offerings (IPOs) surpassing $9 billion in the second half of 2024.
IIOF has outlined its strategic focus on three key themes: Make in India, Rural Consumption, and Impact Investing. Lunawat highlighted their investment approach, stating, “We are investing in companies that are delivering on the Made in India promise to global markets, along with looking for businesses that are substituting imports and fostering exports, supporting India’s vast rural consumption.”
Deloitte serves as the statutory auditor for IIOF, overseeing the financial governance of the fund. As the fund positions itself amid India’s economic resilience and a flourishing investment landscape, it underscores the growing interest and optimism in the country’s potential for substantial growth and innovation.
