Equirus InnovateX Fund (EIF), the early-stage venture wing of the Equirus Group, has officially marked the final close of its first B2B-focused tech fund at ₹166 crore. Following its initial close in February 2024, the fund has successfully drawn capital from a diverse mix of domestic and global investors, including prominent industry operators and founders.
Investment Strategy and Focus
EIF targets high-impact startups at the Seed and Pre-Series A stages. The fund is specifically designed to support teams that have moved past the initial product development phase and are actively navigating toward Product-Market Fit (PMF).
The investment thesis centers on three core pillars:
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Deep Tech: Startups solving complex technical challenges.
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SaaS: Scalable software solutions with clear defensibility.
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Fintech: Innovations within the financial services ecosystem.
Portfolio and Deployment
Led by investment veterans Krishna Jha, Sunder Nookala, and Sadhika Agarwal, the fund has already moved quickly to deploy its capital. To date, EIF has deployed over one-third of its corpus into seven startups.
Current Active Investments:
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Pointo
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Datazip
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GreenStitch
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CtrlB
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Consuma AI
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RSPL
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NeverInstall
The fund aims to build a final portfolio of roughly 15 companies, with the remaining capital slated for deployment over the next 12 to 18 months.
Beyond Capital: The Value Add
A significant portion of the fund’s backing comes from seasoned operators like Girish Gaitonde, M.R. Jyothy, and Nitin Seth. EIF leverages this network to offer more than just financial support. For its portfolio companies, the fund acts as a strategic partner in:
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Market Access: Facilitating enterprise connections and distribution.
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Operational Support: Assisting with senior-level hiring and regulatory navigation.
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Future Funding: Preparing founders for subsequent capital-raising rounds.
Looking Ahead
As a SEBI-registered Category I AIF, EIF is now shifting its primary focus toward scaling its current investments while selectively identifying the final additions to its maiden portfolio. This final close secures the firm’s position in the early-stage B2B landscape and sets the stage for the eventual launch of its successor fund.
By: Sandhya Bharti
