Exfinity Venture Partners Unveils ₹1,100 Crore Fund IV for Deep-Tech Investments

Exfinity Venture Partners has launched a ₹1,100 crore fourth fund, expanding its focus on semiconductors, physical AI, advanced compute, robotics and enterprise AI software.

The filing for Fund IV has been submitted to SEBI and the firm expects to start raising shortly, partners Chinnu Senthilkumar and Jesper Ludolph told ETEntrepreneur. The fund will remain early-stage focused but allocate a larger portion to follow-on rounds, given longer build and commercialisation cycles in deep tech.

Exfinity has invested in 40 startups so far and has completed 17 investments from its third fund. The firm typically aims for 10–20 per cent ownership and expects cheque sizes to rise modestly in the new fund.

Senthilkumar noted that some of the firm's earliest investments are now being validated as global markets shift — including Kinara AI, backed in 2018 and acquired by NXP Semiconductors, and Chara Technologies, invested in more than three years before rare-earth mineral concerns went mainstream. Exfinity also recently achieved full capital return for its 2016-vintage Fund II, supported by cross-border exits including the acquisitions of Kinara, Locus and AI Palette by multinational buyers.

Fund IV will also target emerging categories such as photonics, quantum computing, hydrogen and energy systems, and life sciences — areas Exfinity has not previously invested in meaningfully but sees maturing rapidly.

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