Equirus InnovateX Fund has announced the final close of its maiden B2B technology-focused fund at ₹166 crore. Equirus InnovateX Fund (EIF), the early-stage venture arm of Equirus Group, has announced the final close of its maiden B2B technology-focused fund at ₹166 crore.
The fund had earlier marked its first close in February 2024.
The SEBI-registered Category I AIF invests in seed and pre-Series A startups across deeptech, SaaS and fintech, typically backing post-product teams working towards product-market fit.
EIF focuses on founders solving structurally complex problems with strong distribution strategies and defensible business models, while emphasising long-term sustainability.
The fundraise saw participation from domestic and global investors, including several founders and operators, including Girish Gaitonde, Founder and Board Member of Xoriant; M.R. Jyothy, Chairperson and Managing Director of Jyothy Labs; Dhimant Bhayani, Founder and CEO of iRevo; Raj P., Founder and Executive Chairman of Zaggle, among others.
The fund is led by Krishna Jha, Sunder Nookala and Sadhika Agarwal, who oversee investments and portfolio management across focus sectors.
“Having built and backed companies ourselves, we understand the inflection points founders face around product-market fit, enterprise access and organisational build-out. With Fund I fully closed, our commitment is to work closely with portfolio companies to help them scale responsibly, strengthen fundamentals and build institutions that stand the test of time,” said Sunder Nookala, Partner, Equirus InnovateX Fund.
EIF has deployed over one-third of the corpus, backing seven startups so far, with a target portfolio of up to 15 companies. Investments include Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL and NeverInstall.
The remaining capital is expected to be deployed over the next 12–18 months.
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