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The round also witnessed participation from existing investors Chiratae Ventures, Varanium Fintech Fund, and VCMint.
The fund has earmarked around 20-25% of the corpus for follow-on investments in top-performing portfolio companies from its first fund.
Infinity will use the capital for expanding the loan book and establishing deeper presence across the six states.
This capital will enable InsuranceDekho to expand reach, enhance tech-driven offerings, and solidify position, the company's founder Ankit Agrawal said.
the Fund-II aims to invest in the next generation fintechs of India including in the generative artificial intelligence space.
