Mumbai, January 25, 2023 – Equirus, a distinguished financial services firm, joyfully unveils the inauguration of the Equirus InnovateX Fund (EIF), a US$25 million investment initiative exclusively dedicated to fostering seed-stage tech enterprises. Equirus InnovateX Fund endeavors to nurture visionary entrepreneurs, equipping them to craft revolutionary solutions that will sculpt the future across various industries. Key investment focuses for EIF comprise Software as a Service (SaaS), Deep Tech, Fintech, and other emergent sectors, with a primary emphasis on business-to-business (B2B) themes. The fund, ranging from US$500,000 to US$1 million, will be deployed in 15-20 companies demonstrating a proven track record of sustainable business models, robust monetization strategies, and the capability to address critical issues in expansive markets.
Operated by seasoned founders Sunder Nookala and Sadhika Agarwal, EIF brings a wealth of knowledge and a robust investment history to the forefront. EIF’s essence extends beyond providing capital; the fund is dedicated to unlocking value for early-stage startup founders. Through strategic counsel, heightened governance, assistance in building exceptional teams, and a commitment to constructing enduring, sustainable enterprises, Equirus InnovateX Fund seeks to empower entrepreneurs to navigate the intricacies of the startup journey successfully.
“Post-2022, there has been a noticeable shift in investment strategies. We anticipate this recalibration in venture investing to persist. Capital deployment will remain cautious and favor sustainable business models with robust monetization potential. We believe that Equirus InnovateX Fund is more than just a financial investment; it’s a strategic partnership aimed at catalyzing innovation, fostering growth, and contributing to the success stories of the next generation of tech leaders. By combining financial backing with a wealth of experience, mentorship, and industry connections, EIF is poised to make a significant impact on the tech startup ecosystem,” expressed Sunder Nookala, Early-Stage VC, and Head Tech & Digital at Equirus.
Sadhika Agarwal, Early-Stage VC at Equirus, shared her excitement about the fund’s launch, stating, “EIF represents a unique opportunity to foster innovation in the tech sector. Our aim is not just investing capital but being catalysts for the success of visionary entrepreneurs, helping them create sustainable enterprises that will shape the future. The talent pool in India, coupled with a supportive tech ecosystem, positions us well to nurture promising businesses that can compete at a global level.”
Ajay Garg, Managing Director at Equirus, an active angel investor with a decade-long track record, boasts notable investments, including Republic, Druva, Kwench, Mobstac, among others. Sunder, a serial entrepreneur, an active angel investor & ex-founder of Kwench, an employee engagement platform, achieved a successful exit after the company’s acquisition by the US-based O.C. Tanner. He is an active angel investor and LP in Upekkha and PointOne Capital, having invested in companies like Credgenics and GoComet. Meanwhile, Sadhika founded Sudo Foods, a consumer brand specializing in quality plant-based alternatives.
