Bengaluru, India Jan 21: Exfinity Venture Partners, India’s leading deep-tech venture capital fund, has delivered a series of strategic exits across its portfolio, underscoring the growing global appetite for Indian-built deep technology and enterprise AI software. In the recent twelve months, Exfinity has completed three strategic exits involving Western multinational acquirers, signaling India’s emergence as a trusted source of globally relevant innovation.
Among the recent exits, Kinara.ai was acquired by NXP Semiconductors, marking one of India’s most significant deep-tech M&A transactions and validating the country’s capabilities in semiconductors and edge AI. Locus was acquired by Ingka Group, the holding company of IKEA, as part of its efforts to enhance last-mile logistics and delivery optimisation. Additionally, AI Palette, a portfolio company from Exfinity’s 2020 vintage fund, was acquired by GlobalData, reflecting sustained global demand for AI-powered enterprise intelligence platforms.
Alongside recent full exits in Kinara and Locus, a defining contributor to Fund II’s performance has been Pixis, where Exfinity previously executed a partial exit delivering over 60X MOIC, and continues to hold a significant ownership stake with substantial future upside. Across its key exits, Exfinity held high-single-digit to low-double-digit ownership stakes, reflecting a capital-efficient approach to value creation.
Collectively, these exits enabled Exfinity’s 2016 vintage Fund II to achieve a key liquidity milestone. Exfinity began returning capital to LPs well within the fund lifecycle, with full capital return achieved in 2025. This outcome highlights disciplined portfolio construction, early conviction investing, and a consistent focus on building companies that are attractive acquisition targets for global strategics.
“What we are seeing now is a clear shift in how global enterprises approach innovation and growth,” said Shailesh Ghorpade, Managing Partner at Exfinity Venture Partners. “Repeated acquisitions of Indian-origin deep-tech companies by Fortune 500 and multinational buyers show that strategic M&A has become a highly viable and lucrative exit path—on par with IPOs, growth-stage up-rounds, and private equity outcomes. For founders and investors alike, this opens up a much broader, more reliable set of global liquidity options.”
“This series of strategic acquisitions demonstrates a fundamental shift in how global enterprises engage with Indian deep tech,” said Chinnu Senthilkumar, Managing Partner at Exfinity Venture Partners. “We are proud to have returned capital to our LPs within the fund lifecycle while continuing to hold meaningful upside. These outcomes validate our long-held belief that India can produce globally competitive deep-tech companies with real, repeatable exit pathways.”
Beyond realised exits, Fund II continues to hold positions in several scaled startups across cybersecurity, spatial intelligence, and enterprise AI platforms, with meaningful unrealised value. Together, realised liquidity and remaining portfolio strength demonstrate Exfinity’s ability to deliver outcomes while maintaining exposure to long-term compounding opportunities.
Exfinity’s portfolio companies today serve Fortune 500 clients across Europe, the United States, and Japan, and are increasingly partnering with global capability centres (GCCs) in India seeking advanced, locally built technologies with global relevance. Exfinity’s ecosystem is further strengthened by the participation of global corporate limited partners, whose presence provides early visibility into enterprise technology needs and acquisition priorities. This proximity to strategic buyers helps inform Exfinity’s investment thesis and reinforces its focus on building companies aligned with real-world enterprise demand across global markets.
Building on this momentum, Exfinity has initiated fundraising for Fund IV, continuing its focus on backing founders building frontier technologies for global enterprises. The fund will target emerging sectors, including physical AI and robotics, next-generation semiconductors, advanced cybersecurity, generative and agentic AI, quantum computing, life sciences, climate technology, and mobility, where global acquirers are actively seeking innovation.