Fund News
Udtara Ventures launches Rs.250-Cr growth fund Equirus InnovateX Fund closes its first enterprise te
The new fund plans to invest in 8 to 10 growth-stage companies that are developing commercially deployable technologies within the defence, aerospace, and dual-use sectors. It will focus on companies with an established product-market fit and a confirmed order book, seeking a blend of equity and debt.Mumbai-based Equirus InnovateX Fund , the early-stage venture capital arm of Equirus Group, has closed its first enterprise technology fund at INR 166 crore. Investors who participated in the fundraise included Girish Gaitonde, founder of Xoriant; M.R. Jyothy, chairperson and managing director of Jyothy Labs; Dhimant Bhayani, chief executive officer of iRevo; Raj P., founder and executive chairman of Zaggle; Shankar Vailaya, co-founder of Sharekhan; and Nitin Seth, vice chairman of GD Foods.Founded in 2024, the fund focuses on investing in Seed and pre-Series A startups operating in deep tech, software-as-a-service, and fintech sectors, typically backing companies that are post-product and aiming for product-market fit. Over one-third of the corpus has already been deployed across seven startups, including Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL, and NeverInstall. The remaining capital is expected to be deployed over the next 12 to 18 months, targeting a portfolio of about 15 companies.
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