Exfinity Venture Partners, Early Investor In Pixis Announces Partial Exit With Record Returns Of 37x
The fund is uniquely positioned to scale cross border startups building world class enterprise solutions for customers across the globe, that go on to attract funding from various prominent funds.
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Exfinity Venture Partners, an early stage venture capital firm investing in technology product companies in the B2B space has announced the sale of 2.54% of their holding in Pixis (Aiquire Inc) to existing institutional investors. Pixis (formerly Pyxis One) is a codeless AI infrastructure company that enables customers to scale accurate data-driven marketing and is headquartered in California, with offices in India. Exfinity has earned a stellar multiple of 37x from Pixis and are returning close to 30% of the total corpus of their fund. With the partial exit, Exfinity will continue to maintain significant holding in Pixis.
Pixis has today announced raising a Series-C round of USD 100M led by SoftBank Vision Fund 2 with participation from new investor General Atlantic. They will leverage this funding and the investors’ expertise & network to expand their global footprint.
Speaking on the development, Chinnu Senthilkumar, Managing Partner & CTO of Exfinity Venture Partners said, “Exfinity was one of the earliest investors in Pixis and has been with the team since their inception. It’s been an absolute pleasure helping the young team grow to what they are today - a codeless AI platform that enables efficient marketing for enterprise customers such as Swiggy, HDFC Bank, Bajaj, Mamaearth and several others. We are indeed very proud of Pixis in their spectacular journey from a small set-up in Bengaluru to a global company. We have immense confidence in the Pixis team to grow the company to the next level- this is just the beginning for them” He further added, “Exfinity’s core founding principle has been to take a practitioner driven approach and we are the pioneer fund in India to adopt this approach. The immense success of Pixis is a validation of our fund thesis and principles. As of today, our portfolio companies’ products and solutions serve more than thirty Fortune 500 companies.”
Shubham A. Mishra, CEO & Co-founder of Pixis, said, “Exfinity has been a strong supporter and involved investor since our early days. The fund’s strong B2B focus, domain expertise and industry connections combined with the conviction with which they back founders has been vital in our journey of building Pixis. As a partner, they have been instrumental in helping us reach our inflection point through key ecosystem connects which aided in us signing our first major customer.”
While the B2B startup landscape has gained momentum in recent years, with several marquee funds also taking bets in the space, Exfinity is India’s first fund focused on nurturing startups in this domain. The fund is uniquely positioned to scale cross border startups building world class enterprise solutions for customers across the globe, that go on to attract funding from various prominent funds.
Some of the other investments include Locus, a logistics tech company who raised a Series C led by GIC Singapore, Deep Vision, a deep tech company that recently secured a Series B round from Tiger Global and Western Digital, and Skit.ai, a company in the voice automation space that Westbridge Capital invested in. The portfolio companies have been recognised as market leaders by Gartner and Forrester, and collectively hold over 200 patents- a testament to the pathbreaking and disruptive nature of their work.
Exfinity has launched their third fund, which was initially targeted at INR 500 crores, however as the response has been overwhelming they expect to supersede the initial target.
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