India Inflection Opportunity Trust (IIOT), managed by Pantomath Capital Management, has launched its second Category-II alternative investment fund, the Bharat Value Fund.
The fund has a targeted corpus of Rs 2,000 crore (approximately $240 million), which includes a base amount of Rs 1,000 crore and a greenshoe option of an equal amount. The fund received commitments exceeding Rs 1,000 crore in its first close, pushing the group’s assets under management beyond $250 million.
The Bharat Value Fund, led by Madhu Lunawat, aims to address the gap in the mid-market core economy segment by supporting entrepreneurs with sustainable growth visions. The fund is backed by sovereign funds, global investment firms, and Indian family offices, though their names have not been disclosed. Launched in April 2024, the fund targets pre-IPO investment opportunities in growth-stage enterprises that promote the ‘Made in India’ ethos, focusing on import substitution, export support, and rural consumption.
“Bharat Value Fund is designed to capitalize on the massive demographic opportunities in the mid-market segment that the Indian economy presents. We are confident that BVF will deliver robust returns and become a cornerstone of our investors’ portfolios, helping them achieve long-term growth and financial success,” said Lunawat.
IIOT’s inaugural scheme, the India Inflection Opportunity Fund (IIOF), had a corpus of Rs 500 crore and was fully deployed within eight months of its final closure. The fund made 12 investments, with eight occurring in the last eight months. One notable success includes a 10x valuation exit, with proceeds distributed to investors during the drawdown phase. To date, the first fund has returned over 60% of the invested amount to its investors. Its portfolio companies include Inventys Research Company, Silver Consumer Electricals, MKC Agro Fresh, SAR Televenture, and Vikran Engineering & Exim.
Madhu Lunawat, the Chief Investment Officer of India Inflection Opportunity Trust, is also the co-founder of Pantomath Financial Services Group. She has extensive experience in corporate finance, treasury operations, investment banking, valuations, and asset reconstruction.
Credit: INC42
