Samreen Ahmad · · 1 min readIndian financial services firm rolls out $25m innovation fund
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At a time of slowdowns in India’s startup funding landscape, financial services firms like Equirus Group are giving a breather to these companies.
The investor has launched a US$25 million Equirus InnovateX Fund (EIF) to support seed-stage tech companies in the software-as-a-service, deeptech, fintech, and other emerging sectors, with a primary focus on the B2B space.
Operated by Sunder Nookala and Sadhika Agarwal, EIF aims to invest anywhere between US$500,000 and US$1 million in 15 to 20 startups. While Nookala has been an active angel investor since 2018, Agarwal is a seasoned investment banker.
“Capital deployment will remain cautious and favor sustainable business models with robust monetization potential,” said Nookala.
Aside from financial backing, EIF will also provide selected startups with mentorship and industry connections. The aim is to “create sustainable enterprises that will shape the future,” said Agarwal.
Equirus Group offers investment banking and wealth management services, among others. The company said it has facilitated more than 240 transactions related to M&As, private equity, IPOs, and rights issues, raising US$10.6 billion in the process.
See also: India’s new breed of investment tech startups gains steam, but challenges persist
Editing by Miguel Cordon and Dhania Putri Sarahtika
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