PixelSky Capital Launches INR 400 Cr Fund to Back IPO-Bound Startups PixelSky plans to invest in eight companies, with average cheque sizes ranging from INR 40–50 crore.
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PixelSky Capital, a newly launched secondary fund co-founded by investment bank IndigoEdge and entrepreneur Hitesh Ahuja, has unveiled its maiden investment vehicle with a target corpus of INR 400 crore.
The fund will focus on late-stage tech and consumer companies eyeing public listings within the next 36 to 48 months. Ahuja, who previously sold his foodtech startup Yumlane to Curefoods in 2023, brings hands-on entrepreneurial expertise to the table.
The fund has already made its first bet on beauty retailer Purplle and is on track to close a second investment by June, according to sources. PixelSky plans to invest in eight companies, with average cheque sizes ranging from INR 40–50 crore.
Promoted by IndigoEdge co-founder Zerin Rahiman and Ahuja, formerly of private equity firm New Silk Route, the fund is attracting capital from domestic family offices and unicorn founders. The duo has also committed INR 10–15 crore of their own capital into the fund. Final close is expected by March 2026.
IndigoEdge, known for facilitating over 150 transactions worth USD 3 billion, has previously made proprietary investments and served as a limited partner in 8–10 VC funds. With PixelSky, the firm is expanding into fund management, targeting India's booming late-stage startup market.
PixelSky Capital aims to evaluate nearly 20 companies across tech and consumer sectors before finalising its eight investments, riding the wave of IPO-ready growth-stage ventures in India's new economy.
