Mumbai's Equirus launches $25M EIF fund to support seed-stage tech startups

Equirus, a Mumbai-based financial services firm, has introduced the Equirus InnovateX Fund (EIF), a $25 million investment vehicle.

The fund is specifically designed to support seed-stage technology startups, focusing on visionary entrepreneurs who are building innovative solutions across various industries.

The EIF will concentrate on Software as a Service (SaaS), Deep Tech, Fintech, and other emerging sectors, primarily targeting business-to-business (B2B) themes.

What will be the investment strategy?

The fund plans to invest between $500,000 to $1 million in 15-20 companies. Equirus believes these companies are expected to have a proven track record of sustainable business models, strong monetization strategies, and the capability to solve critical problems in large addressable markets.

The investment approach post-2022 has shifted, with a focus on cautious capital deployment favouring sustainable business models with robust monetization potential.

Who will be managing the EIF fund?

The EIF will be managed by Sunder Nookala and Sadhika Agarwal. Nookala, an early-stage venture capitalist and Head of Tech and Digital at Equirus, is a serial entrepreneur and an active angel investor with a history of successful investments.

Sadhika Agarwal, co-founder of Sudo Foods and an investment banker by training, brings additional expertise to the fund. Their combined experience is expected to provide strategic partnership, mentorship, and industry connections to the startups.

What does Equirus Group do?

Equirus Group, beyond the EIF, offers a full range of financial services, including investment banking, corporate banking solutions, structured finance, private equity, M&A, insurance broking services, and wealth products and portfolio management.

The company claims to have completed over 240 transactions across various domains, raising $10.6 billion in the process.

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