Private Equity

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Epiq Capital targets $150-M second fund

Economic Times  

Epiq Capital, founded by Rishi Navani, is aiming to close its second India fund of USD 150 million to invest in growth-stage startups. After having backed companies like eyewear retailer Lenskart, news aggregation platform Dailyhunt, and health and fitness startup Curefit from its USD 100 million Fund-I, Epiq is eyeing domestic capital for its new vehicle. This will be a move away from the strategy of its maiden fund, which was sponsored solely by foreign limited partners. Epiq is now positioning itself as an investor which will typically pick anywhere between a 2% and 8% stake in late-stage tech firms in a mix of primary and secondary shares. The fund will deploy USD 10-20 million in these companies. So far it has backed six companies.