Press Releases

Mumbai; January 17, 2018

IDFC-Parampara Fund logs its First Exit

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Mumbai, Wednesday, January 17, 2018: IDFC-Parampara Early Stage Opportunities Fund, which invests in technology IP and innovation-themed start-ups has logged its first full cash exit.

One of the fund's portfolio companies, Mumbai based S-Cube Futuretech, has been acquired by US-based Bentley Systems for an undisclosed amount. Bentley is a global leader dedicated to providing engineers, architects, geospatial professionals, constructors, and owner-operators with comprehensive software solutions for advancing infrastructure.

The fund will also shortly announce its final close, with participation from key institutional investors, marquee family offices and UHNIs. Parampara Capital is the Investment Manager to the fund. IDFC Alternatives has a strategic commitment to the fund including participation in the Fund's Investment Committee and Advisory Board. 

Atomberg Technologies, SecurAx Tech Solutions, Data Resolve Technologies and Mobilizar Technologies (Playshifu) are the fund's other portfolio companies in line with the fund theme.

M.K. Sinha, Managing Partner & CEO, IDFC Alternatives said, "IDFC-Parampara was floated with the objective to explore investing into businesses with intellectual property and technology as barriers to entry. We are glad that it has started showing the results and in a relatively short span enabled us to establish our credentials in the Venture Capital space. The exit from the investment at a healthy IRR validates our return expectation from this asset class."

Jatin Desai, General Partner at Parampara Capital said, "We are pleased to report full cash exit before fund's final close, which is not very common yet in the Indian start-up VC space, and we will also formally announce final close of our first fund soon. We thank all our investors who believed in us when we started the fund and their continued support. We have a few interesting deals in the pipeline for investment and hope to move forward on at least a couple of them shortly."

IDFC-Parampara fund is also a beneficiary of Government of India's FFS scheme (Fund of Funds for Startups) which is part of Start-up India program and managed by SIDBI, and this is also one of the earliest cash exits amongst the VC funds in India, which were beneficiaries under the FFS scheme.

About IDFC Parampara Early Stage Opportunities Fund - Series I

IDFC-Parampara Early Stage Opportunities Fund, with offices in Mumbai and Hyderabad, was launched by Venkat Vallabhaneni, Jatin Desai and Sridhar Rampalli. The Fund seeks to make pre-Series A investments in companies across sectors - where technology, intellectual property and innovation are primary differentiators.

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