Diversified financial services firm Pantomath Financial Services Group has marked the final close of its pre-IPO fund, India Inflection Opportunity Fund (IIOF), at INR 500 Cr ($60 Mn).
Launched last year, the category II alternative investment fund, IIOF, will primarily invest at pre-IPO stage across growth-stage Indian startups. It secured investments from Indian sovereign funds, global and Indian family offices, high net-worth individuals and others.
With this fundraise, Pantomath now has around INR 2,500 Cr of total corpus under its supervision.
Founded by Mahavir Lunawat and Madhu Lunawat in 2013, Mumbai-based Pantomath deals in wealth management, fintech and stock broking, among others. The group claims to be one of the fastest-growing merchant bankers backed by fund management and distribution verticals.
“India Inflection Opportunity Fund is focused on under-researched family-owned businesses which are on a rapid-growth trajectory. We would like to focus on a huge addressable market opportunity avoiding ventures with negative cash flows and bleeding balance sheets,” said Madhu Lunawat.
She further said that the fund will follow an active management approach wherein Pantomath will provide growth capital as well as strategic support to promising businesses that are significantly making a difference to society and the environment.
“We are investing in companies that are delivering on the Made in India promise to global markets. We are looking for businesses that are substituting imports and fostering exports, that are supporting India’s vast rural consumption,” Lunawat added.
In July, Pantomath acquired a 75% stake in global deal-making marketplace fundgini.com for an undisclosed amount.
For Indian startups, the year 2023 was also shrouded in gloom amid the funding winter. However, as per Inc42 findings, investors lended helping hands to the firms by floating 63 funds worth more than $5 Bn as of Q3 2023, of which 46% was majorly focussed on early-stage startups.
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