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 Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

freepik

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."

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

'I Hate Bureaucracy': Leaked Internal Amazon Document Reveals How the Tech Giant Is Cutting Down on Middle Management

Amazon could soon let go of thousands of managers, resulting in savings of up to $3.6 billion.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Science & Technology

39% of Your Skills Will be Obsolete in 5 Years — Here Are 6 Skills You Will Need to Adapt and Thrive

AI agents are transforming business — adapt or be left behind.