TLDR:
- Equirus InnovateX Fund has announced its first close after securing an AIF license from SEBI.
- The fund plans to make at least two investments in companies over the next month and aims to make 15–18 strategic investments this year.
An early-stage venture fund, Equirus InnovateX Fund (EIF), has successfully announced its first close within two months of securing an AIF Category-I license from SEBI. The fund, launched in January 2024, saw participation from Ex-Founder/Operator HNIs and UHNIs, and plans to make at least two investments in companies over the next month after securing the first closing.
Sunder Nookala, Early-Stage VC, and Head Tech and Digital at Equirus, expressed excitement about leveraging the momentum to identify and nurture the next generation of tech innovators. EIF intends to make 15–18 strategic investments this year, with investments ranging from INR 4 to 8 crores, focusing on industries like Software as a Service (SaaS), Deep Tech, and Fintech.
The fund plans to set aside 30–40% of its capital for follow-on rounds to provide ongoing support for portfolio companies as they expand and scale. Ankur Punj, National Sales Head at Equirus Wealth, noted the growing interest among HNIs/UHNIs and institutional clients in early-stage AIF strategies as a means of diversifying portfolios and generating returns.
