Mid-market investment banker, Pantomath Group Wednesday announced the first closing of its pre-initial public offering (IPO) focused fund with a target of raising Rs 500 crore including a green shoe option of Rs 250 cr.
The ‘India Inflection Opportunity Fund’ is a category-II alternate investment fund that aims to invest in diverse pre-IPO opportunities with a focus on India’s rising economy. It will take bets on three broad themes such as ‘Make in India,’ rural consumption and impact investing.
Pantomath says IIOF has reached 25% of its target corpus of Rs 500 crore in its first closing with participation by marquee anchor investors, global, domestic family offices and high net-worth investors (HNIs), without divulging details about these.
The investment bank has further said that IIOF has a ‘distinguished’ investment strategy coupled with periodic payouts to investors besides targeting healthy terminal returns.
The fund has also made its debut investment alongside its first closing in a specialty chemical company, Inventys Research Company Pvt Ltd that focuses on custom synthesis and manufacturing (CSM). Its product portfolio comprises of advanced intermediates, agro-chem and pharma.
“IIOF is focused on under-penetrated businesses with established foundation and visible growth trajectory. We would like to focus on addressable market opportunities avoiding ventures with negative cash flow and bleeding balance sheets. Our fund will provide growth capital to various enterprises through active ownership approach,” fund manager Madhu Lunawat said.
Lunawat is a CFA and has over two decades of experience in investment management, corporate finance, asset reconstruction among other financial services.