Mumbai-based Pantomath Financial Services Group today announced the successful closure of its India Inflection Opportunity Fund (IIOF), having raised Rs 500 crore ($60 million).
This marks the completion of the maiden series for this pre-IPO fund, which was launched in April 2022. Managed by Pantomath Capital Management Private Limited, this Category II Alternate Investment Fund (AIF) contributes to Pantomath’s significant portfolio, bringing its total funds under supervision to around INR 2500 crores.
Avoiding negative cash flow balance sheets
The IIOF strategically targets under-researched, family-owned businesses in India that are rapidly growing. The Fund’s approach is to avoid ventures with negative cash flows and bleeding balance sheets, focusing instead on businesses with substantial market opportunities.
According to the firm’s statement, The investment themes revolve around ‘Make in India’, ‘Rural Consumption’, and ‘Impact Investing’, aiming to support companies that contribute to India’s global market presence, import substitution, export fostering, and rural consumption.
Who are the investors?
The Fund has raised investments from domestic sovereign funds, global and domestic family offices, anchor investors, and high-net-worth individuals (HNIs).
The development comes at a time when India is experiencing economic resilience and an increasing attractiveness as an investment hub. The country is anticipating a strong pipeline of IPOs, which are expected to exceed $9 billion in the second half of 2024.
Madhu Lunawat, the Chief Investment Officer of the IIOF, brings over two decades of experience in investment management and related fields to the table. Deloitte serves as the statutory auditor for the Fund, which is also guided by an eminent Board of Advisors.
A look at Pantomath’s business
Pantomath, founded by Mahavir Lunawat and Madhu Lunawat in 2013, is a diversified financial services firm that operates across various sectors, including wealth management, fintech, and stock broking.
The group, known for its rapid growth in merchant banking, has recently expanded its reach by acquiring a 75% stake in the global deal-making marketplace fundgini.com, indicating a broader vision for future growth and market influence.
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