Financial services company Equirus Group has successfully concluded its first early-stage venture capital (VC) fund, Equirus InnovateX Fund, raising ₹166 Cr ($18.3 Mn). Launched in January 2024 with a target of ₹207 Cr ($25 Mn), the fund aims to support up to 15 startups across sectors like SaaS, deeptech, and fintech, with a focus on B2B ventures.
Equirus has already invested in seven startups, including Pointo, Datazip, and Consuma AI, and plans to deploy the remaining capital over the next 12-18 months to fuel further innovation and growth in the tech startup ecosystem.
The fund’s limited partners (LPs) include industry figures like Xoriant founder Girish Gaitonde and Jyothy Labs chairperson M R Jyothy, indicating strong support for emerging tech ventures.
This milestone for Equirus Group comes as the industry sees increased investments in deeptech startups, reflecting a broader shift towards supporting cutting-edge technology innovations.
Source: Inc42 Media