Equirus Innovatex Fund Closes Maiden B2B Tech Fund at INR 166 Cr Backers include founders and operators such as Girish Gaitonde, M.R. Jyothy, Dhimant Bhayani, Raj P., Shankar Vailaya, and Nitin Seth.

The Equirus InnovateX Fund (EIF), the early-stage venture capital arm of the Equirus Group, has announced the final close of its maiden B2B technology fund at INR 166 crore.

The fund had previously marked its first close in February 2024 and is registered as a Category I Alternative Investment Fund with the Securities and Exchange Board of India (SEBI).

EIF focuses on seed to pre-Series A startups building in deep technology, software-as-a-service (SaaS), and fintech. It typically invests in companies that have launched products and are working toward product-market fit. The fund aims to partner with founders addressing complex business problems while building sustainable and defensible models with clear distribution strategies.

The final close drew participation from domestic and international investors, many of whom bring operational expertise and market access alongside capital. Backers include founders and operators such as Girish Gaitonde, M.R. Jyothy, Dhimant Bhayani, Raj P., Shankar Vailaya, and Nitin Seth.

The fund is led by Krishna Jha, Sunder Nookala, and Sadhika Agarwal, who oversee investment decisions and portfolio management across its focus sectors. EIF stated that more than one-third of the corpus has already been deployed, with seven startups funded so far. Its current portfolio includes Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL, and NeverInstall, with a target portfolio size of up to 15 companies.

The remaining capital is expected to be invested over the next 12 to 18 months. Beyond funding, EIF supports portfolio firms through enterprise access, regulatory guidance, senior hiring, and fundraising readiness. With the fund now fully closed, EIF plans to scale its existing portfolio while selectively adding new investments and preparing the groundwork for its next fund.