Equirus InnovateX Fund, Equirus Group’s early-stage enterprise arm, has closed its first enterprise know-how fund at Rs 166 crore, the agency mentioned Monday.
The fund, which introduced its first shut in February 2024, invests in seed and pre-Collection A startups constructing in deep tech, software-as-a-service and fintech. It usually backs firms which can be post-product and dealing towards product-market match.
The ultimate shut drew each home and international buyers, together with Girish Gaitonde, founder and board member of Xoriant; M.R. Jyothy, chairperson and managing director of Jyothy Labs; Dhimant Bhayani, founder and chief government officer of iRevo; Raj P., founder and government chairman of Zaggle; Shankar Vailaya, former director and co-founder of Sharekhan; and Nitin Seth, vice chairman of GD Meals.
The fund is led by Krishna Jha, Sunder Nookala and Sadhika Agarwal.
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“On the seed and pre-series A stage, capital alone just isn’t the differentiator – context and conviction are,” Sunder Nookala, Associate at Equirus InnovateX Fund, mentioned. “Having constructed and backed firms ourselves, we perceive the inflection factors founders face round product-market match, enterprise entry and organisational build-out. With Fund I totally closed, our dedication is to work intently with portfolio firms to assist them scale responsibly, strengthen fundamentals and construct establishments that stand the take a look at of time.”
The fund has deployed greater than one-third of its corpus throughout seven startups and is concentrating on a portfolio of as much as 15 firms. Its investments embody Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL and NeverInstall. The remaining capital is anticipated to be deployed over the subsequent 12 to 18 months.
“As India’s startup ecosystem matures, we’re seeing a brand new era of audacious founders fixing structurally complicated issues,” Krishna Jha, Associate at Equirus InnovateX Fund, mentioned. “As a agency of ex-operators, our focus is on partnering with these founders as they stroll the lengthy highway from early concept to enduring, category-defining firm.”
Equirus InnovateX Fund is a SEBI-registered Class I different funding fund. It emphasises governance and long-term worth creation, and gives help to founders in enterprise entry, regulatory navigation, senior hiring and capital-raising preparedness.
Equirus Group affords funding banking, institutional securities, wealth and asset administration, high-net-worth broking, non-banking monetary firm and insurance coverage providers. The agency mentioned it has accomplished over 330 transactions throughout M&A, personal fairness, IPOs, certified institutional placements, rights points and structured finance, elevating $15 billion over the previous 18 years.
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