Exfinity fund, the technology focused fund founded by IT veterans V Balakrishnan, Mohandas Pai and former Wipro Chief Girish Paranjpe has raised Rs 100 cr, in its first round of fund raising.
The fund is looking to raise another Rs 25 cr. Deepak Ghaisas, the former CEO of iFlex, investor Rajiv Kuchhal and Sunil Mantri of Mantri Realities are also part of the fund to which each one of them have contributed Rs 20 cr.
Our Exfinity fund raised the whole of Rs.100 crore in the first round itself. We will be raising the green shoe of another Rs. 25 crore soon
— V.Balakrishnan (@balakv1970) June 4, 2014
After quitting Infosys, Balakrishnan had floated the fund in December 2013. Mohandas Pai who quit Infosys in 2011, joined the Manipal group and also floated a fund called Aarin capital.
Balakrishnan is currently part of the Unitus Seed Fund, an impact investing fund in which Pai and former Infosys board member Ravi Venkatesan are investors.