Targeting corpus of Rs 400 Cr, PixelSky Capital raises Rs 150 Cr in its first close
With support from Yumlane founder Hitesh Ahuja and boutique investment bank IndigoEdge, PixelSky Capital is a secondaries-focused fund that raised Rs 150 crore on its first close and aims to amass a corpus of Rs 400 crore.
At a $1 billion (roughly Rs 8,700 crore) valuation, the fund has already invested about Rs 40–45 crore in each of the logistics company Porter and the beauty platform Purplle. Over the upcoming quarters, it plans to acquire secondary stakes in a minimum of three additional late-stage startups.
The company is currently working to close the fund, and between October and December, it will assess its third investment. It is examining modern companies that are at a turning point in their profitability, and it anticipates that three opportunities will present themselves during this time frame.
Investments in businesses that might go public in 2026 or 2027 are being assessed by PixelSky. Companies with values ranging from $300 million to $1.5 billion are the fund’s target.
The Kothari Family of DSP Group, Anand Lunia of India Quotient, Jayesh Parekh, a co-founder of Sony Entertainment Television, and several startup founders are among the domestic family offices and high-net-worth individuals who are PixelSky’s limited partners, or fund sponsors.
Ahuja, a former senior executive at the private equity firm New Silk Route, and Zerin Rahiman, a cofounder of IndigoEdge, will serve as the fund’s managers.
In recent months, a number of significant secondary transactions have been completed. This comprises Porter’s $200 million secondary round, which was led by Kedaara Capital and Wellington Management, a $40 million investment by Canada’s Ontario Teachers’ Pension Plan (OTPP) in HR software unicorn Darwinbox, and a Rs 480 crore round at direct-to-consumer startup The Sleep Company, which was evenly divided between primary and secondary transactions.
