Private Equity

Fund News

Equanimity rolls out $45.5 M second fund to back tech startups

Inc42  

Mumbai-based venture capital company, Equanimity Investments, has initiated its second fund. The VC firm has set a target corpus of around USD 45.5 million and a green shoe option to raise an equal amount. The fund has already received commitments of more than INR 200 crore, with most of the firms' existing limited partners (LPs) committing to Fund II. Some of its existing LPs are Mark Mobius of Templeton Emerging Markets Group, and Vijay Advani, president of Nuveen, US. The second fund comprises 35% of the global LPs and the remaining share includes domestic investors akin to the previous fund. The fund will focus on startups operating in mobility, electric vehicles, artificial intelligence and blockchain. It is anticipated to mark the first closure and begin investing from April this year. The second fund plans to have a portfolio of 15-20 companies. Its initial ticket size will go up from INR 3 crore to INR 7 crore. Equanimity had raised INR 125 crore for its first fund exceeding a target corpus of INR 100 crore.