Equirus, a renowned investment banking services firm, announced the successful first close of its inaugural early-stage venture capital fund, marking a significant milestone within a month of securing regulatory approval from the Securities and Exchange Board of India (SEBI) for a category I alternative investment fund (AIF).
Momentum Building in Early Stage Venture Landscape
While the exact amount of the first close remains undisclosed, the Equirus InnovateX Fund (EIF) witnessed enthusiastic participation from high net worth individuals (HNIs) and ultra high net worth individuals (UHNIs), signaling strong investor confidence in the fund's vision and potential.
Strategic Focus Areas and Investment Strategy
With a target corpus of at least $25 million (approximately INR 207 crore), EIF is poised to catalyze innovation across sectors, with a predominant focus on Software as a Service (SaaS), deeptech, and fintech ventures operating in the business-to-business (B2B) domain.
Empowering Visionary Founders and Tech Innovators
Spearheaded by EIF's head of tech and digital, Sunder Nookala, the fund is committed to identifying and nurturing the next generation of tech innovators, equipped with transformative solutions to address critical challenges across diverse industries.
Expansion Plans and Investment Targets
EIF aims to deploy its capital into promising tech-oriented startups, with an average ticket size ranging between $500K and $1 million. The fund seeks to invest in 15-20 startups with robust business models and scalable monetization strategies, targeting large addressable markets.
Continual Support for Portfolio Companies
In alignment with its commitment to fostering long-term growth and sustainability, EIF plans to allocate 30-40% of its capital for follow-on rounds, ensuring ongoing support for portfolio companies as they scale and expand their market presence.
Strengthening the Ecosystem
Founded in 2007 by Ajay Garg, Equirus Group has emerged as a prominent player in the B2B investment banking landscape, offering a comprehensive suite of financial services, including equity and debt capital markets, structured finance, private equity, mergers and acquisitions (M&A), insurance broking, and wealth products.
Pioneering Transactions and Market Expertise
With a rich history of over 240 transactions spanning mergers and acquisitions, private equity investments, and IPOs, Equirus has earned a reputation for its strategic insights, industry expertise, and commitment to delivering value to its clients and stakeholders.
Forward Momentum in the Venture Capital Landscape
The launch of EIF underscores the growing investor interest in supporting early-stage startups and fostering innovation-led growth across sectors. As Equirus Ventures into the VC arena, it aims to play a pivotal role in shaping the future of India's entrepreneurial ecosystem.
