PixelSky Capital, a fund focused on secondary investments and backed by IndigoEdge and Yumlane founder Hitesh Ahuja, has raised INR 150 crore in its first close. The fund is aiming for a total size of INR 400 crore.
The fund has already invested INR 40–45 crore each in beauty platform Purplle and logistics company Porter, both valued at about $1 billion (₹8,700 crore).
It now plans to buy secondary stakes in at least three more late-stage startups in the coming quarters.
The firm is currently focused on closing the fund and plans to make its third investment between October and December. It is looking at new-age businesses that are close to becoming profitable, with three potential opportunities expected in this period.
PixelSky aims to invest in companies that could go public in 2026 or 2027, targeting valuations between $300 million and $1.5 billion.
The fund’s limited partners include domestic family offices and high-net-worth individuals.
Notable investors include the Kothari Family of DSP Group, Anand Lunia of India Quotient, Jayesh Parekh (co-founder of Sony Entertainment Television), and several startup founders.
The fund will be led by Zerin Rahiman, co-founder of IndigoEdge, along with Hitesh Ahuja, a former senior executive at the private equity firm New Silk Route.
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