Equirus InnovateX Fund closes maiden enterprise tech fund at Rs 166 Cr

The Equirus InnovateX Fund (EIF), the early-stage VC arm of the Equirus Group, has completed the final close of its maiden B2B technology fund at ₹166 crore.

The fund had its first close in February 2024 and is registered with SEBI as a Category I Alternative Investment Fund.

EIF invests in seed to pre-Series A startups in deep technology, SaaS and fintech. It focuses on companies that have launched products and are aiming for product-market fit, partnering with founders solving complex business problems and building sustainable, scalable models with strong distribution strategies.

Read also- CraftifAI raises $3 Mn in seed round led by Ankur Capital

The final close attracted both domestic and international investors, many offering operational expertise and market access in addition to capital. Key backers include founders and operators like Girish Gaitonde, M.R. Jyothy, Dhimant Bhayani, Raj P., Shankar Vailaya and Nitin Seth.

The fund is led by Krishna Jha, Sunder Nookala and Sadhika Agarwal, founders and investors with strong operational experience, who oversee investments and manage the portfolio across the fund’s focus areas.

“At the seed and pre-series A stage, capital alone is not the differentiator - context and conviction are,” Sunder Nookala, Partner at Equirus InnovateX Fund, said. “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.”

“As India's startup ecosystem matures, we are seeing a new generation of audacious founders solving structurally complex problems,” Krishna Jha, Partner at Equirus InnovateX Fund, said. “As a firm of ex-operators, our focus is on partnering with these founders as they walk the long road from early idea to enduring, category-defining company.”

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