New Delhi: Financial services firm Equirus, on Thursday, has introduced a USD 25 million Equirus InnovateX Fund (EIF) to support seed-stage tech companies.
Equirus InnovateX Fund has been dedicated to budding entrepreneurs for their empowerment so that they become efficient enough to build the future of various industries.
EIF will primarily target business-to-business (B2B) themed companies including Software as a Service (SaaS), Deep Tech and Fintech.
Confirming the investment, Equirus said, “$500,000 to $1 million will be invested in 15-20 companies who showcase a proven track record of sustainable business models.”
“Post 2022, there has been a discernible shift in investment approach. We expect this recalibration in venture investing to continue. Capital deployment will remain cautious and favour sustainable business models with robust monetization potential,” said Sunder Nookala, Early-Stage VC, and Head Tech & Digital at Equirus.
Beyond EIF, Equirus group offers a varied range of financial services, including investment banking, structured finance, corporate banking, insurance broking, and wealth products & portfolio management.
Equirus claims to have raised USD 10.6 billion via over 240 transactions across various domains.