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Early Stage Venture Fund Equirus InnovateX Fund Announces its First Close With the goal of encouraging innovation in the tech startup ecosystem, EIF aims to make at least two investments in companies over the next month after securing the first closing.

By Entrepreneur Staff

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An early-stage venture fund Equirus InnovateX Fund (EIF) has announced its first close within two months of securing an AIF (Alternative Investment Fund) Category-I license from the SEBI (Securities and Exchange Board of India). EIF made the Fund's launch announcement in January 2024.

Ex-Founder/Operator HNIs (High Net Worth Individuals) and UHNIs (Ultra High Net Worth Individuals) participated in the fund's first close.

The firm 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, said, "EIF's successful first close is a testament to the vibrant ecosystem of visionary founders and supportive investors. We are excited to leverage this momentum to identify and nurture the next generation of tech innovators, driving positive change across industries."

This year, EIF intends to make 15–18 strategic investments, building on the foundation of its INR 250 crore fund. With investments ranging from INR 4 to 8 crores, the investment topics and ticket sizes are still in line with EIF's earlier announcements, concentrating on fields like Software as a Service (SaaS), Deep Tech, Fintech and other developing industries.

In order to guarantee ongoing support for portfolio companies as they expand and scale, the fund also plans to set aside 30–40% of its capital for follow-on rounds.

Ankur Punj, National Sales Head at Equirus Wealth, added," There is a growing interest among High Net Worth Individuals (HNIs)/Ultra High Net Worth Individuals (UHNIs) and institutional clients in early-stage Alternative Investment Fund (AIF) strategies as a means of diversifying their portfolios and generating alpha in returns."

Entrepreneur Staff

Entrepreneur Staff

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