Exfinity eyes AI bets, calls for bigger risk capital pool
VC firm’s founder Balakrishnan says India must step up investments to compete globally in AI and deep-tech
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Bengaluru: Professionals-turned-entrepreneurs are reshaping the landscape of India’s technology industry. While many are building successful startups, some are also funding promising ventures in the deep-tech ecosystem.
V Balakrishnan, an IT industry veteran, is one such professional-turned-entrepreneur spearheading startup funding in the deep-tech space. Popularly known as ‘Bala’, he is regarded as one of the architects of India’s IT industry, which has achieved a leading position in the global outsourcing market.
Balakrishnan founded Exfinity Venture Partners, which since 2014 has backed founders building global B2B technology companies. According to the firm, it has invested in over 40 startups across areas such as AI chip design, autonomous robotics, AI-based cancer diagnostics, EV and mobility, cybersecurity, and computer vision. The fund has also recorded more than 10 successful exits so far.
Balakrishnan’s deep-tech focus is rooted in his distinguished career at Infosys, India’s second-largest IT services firm. He joined Infosys in 2001 and served as Senior Vice President – Finance until 2006. He later led key verticals including BPO, Finacle, and the India Business Unit. From May 2006 to October 2012, he was the Chief Financial Officer, and subsequently served as a full-time Director on the company’s board from June 2011 to December 2013.
Drawing on his experience of leading one of the world’s largest IT services firms, Balakrishnan has been actively supporting startups engaged in cutting-edge deep-tech innovation. Exfinity Venture Partners currently has a team of around 20 professionals with expertise spanning technology and investment domains.
According to Balakrishnan, India needs significantly more risk capital to strengthen its startup ecosystem. “There are several promising startups working in the AI space in India. However, much of the pioneering work continues to happen in the US. India needs more risk capital to support such startups,” he said in an interaction with BizzBuzz.
