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Zerin Rahiman and Hitesh Ahuja, Managing Partners, PixelSky Capital
PixelSky Capital, a newly launched secondaries-focused investment firm, has reportedly launched its debut fund with a target corpus of Rs 400 crore, aiming to back late-stage technology and consumer businesses gearing up for public listings over the next three to four years, ET reported.
The report stated that the fund is a joint initiative between IndigoEdge, a Bengaluru-based investment bank, and Hitesh Ahuja, an entrepreneur and former private equity executive. The vehicle marks a strategic shift for IndigoEdge, which has historically focused on advisory and proprietary investments.
PixelSky represents its first foray into managing an institutional capital pool, in line with a broader trend of investment banks pivoting toward fund management in India’s evolving startup ecosystem.
Investing in 8 companies
The report further said that the firm is targeting to invest in eight companies expected to go public within a 36 to 48-month window, deploying average cheque sizes of Rs 40–50 crore per company. The fund has already made its first investment in beauty and personal care retailer Purplle, and is in advanced stages of closing its second deal by June 2025, it said.
The capital will be raised primarily from domestic family offices and unicorn founders, with the fund’s co-founders contributing between Rs 10–15 crore. The final close is expected by March 2026.
Info Edge's investments
Founded in 2007, IndigoEdge has executed over 150 transactions worth $3 billion, primarily in technology and consumer sectors. The firm has also backed 8–10 venture capital funds as a limited partner, deploying Rs 25–30 crore from its own balance sheet.
The launch of PixelSky allows IndigoEdge to expand beyond advisory services and offer structured investment products.
While IndigoEdge hasn't made any official announcement, the report indicated that the firm may explore additional fund launches and even consider a wealth management vertical in the future.