The fund will be used to back startups in SaaS, deeptech, fintech, and other emerging sectors, with a primary focus on the business-to-business (B2B) sector
$500K to $1 Mn will be invested in 15-20 startups with a proven track record of sustainable business models, strong monetisation strategies with capabilities of solving critical problems in large addressable markets
By offering a combination of financial support along with experience, mentorship, and industry connections, EIF aims to make a significant impact in the tech start-up ecosystem
Financial services startup Equirus, which provides investment banking, portfolio management and wealth management services, has floated an early-stage fund to invest in tech startups.
The Equirus InnovateX Fund, which aims to raise at least $25 Mn (around INR 207 Cr), will back sectors majorly across SaaS, deeptech and fintech, with a focus on business-to-business (B2B) space, the company said in a statement.
The fund, with an average ticket size between $500K and $1 Mn, seeks to invest in at least 15-20 startups which have sustainable business models and strong monetisation strategies with capabilities of solving critical problems in large addressable markets.
Equirus’ new investment vehicle aims to nurture visionary entrepreneurs and help them to build solutions that will shape the future of various businesses, the statement added.
Sunder Nookala, head of technology and digital of Equirus, said, “We believe that Equirus InnovateX Fund is more than just a financial investment; it’s a strategic partnership aimed at catalyzing innovation, fostering growth, and contributing to the success stories of the next generation of tech leaders.”
By offering a combination of financial support along with experience, mentorship and industry connections, EIF aims to make a significant impact in the tech startup ecosystem, he further added.
Through strategic counsel, amplified governance, assistance in building exceptional teams, and a focus on building enduring, sustainable enterprises, the Equirus fund seeks to empower entrepreneurs to successfully navigate the complexities of the start-up journey.
Founded by Ajay Garg in 2007, Equirus Group is a B2B investment banking and related advisory firm covering equity capital markets, debt capital markets, structured finance, PE, M&A, insurance broking, and wealth products.
Besides, it also offers portfolio management services and research along with institutional equities. It claims to have conducted more than 240 transactions across mergers and acquisitions, private equity, IPOs, etc.
Earlier this month, yet another fund for B2B SaaS startups was launched by GetVantage. The new fund follows the alternative financing platform’s SaaS Accelerator Fund I, which was an INR 65 Cr vehicle floated in 2022.