India, April 25 -- Bengaluru-based investment bank IndigoEdge and entrepreneur Hitesh Ahuja have launched their maiden secondaries fund, PixelSky Capital, with a target corpus of INR 400 Cr.

The fund will focus on late stage tech and consumer companies, which are expected to go public in the next three to four years, ET reported.

Notably, PixelSky has already invested in beauty platform Purplle and aims to close a second deal by June. It plans to back eight companies in total, writing cheques of INR 40-50 Cr each.

A secondary deal involves existing shareholders selling their stakes to new investors, without the company issuing new shares. This provides liquidity to early stakeholders and allows new investors to participate in the compa...