What Equirus InnovateX Fund does

Equirus InnovateX Fund (EIF) is the early-stage venture capital arm of Equirus Group, headquartered in Mumbai and registered with SEBI as a Category I Alternative Investment Fund. The fund invests seed to pre-Series A capital in B2B technology startups operating in deep tech, SaaS, and fintech across India. EIF announced the final close of its maiden B2B technology fund at ₹166 crore in February 2026, drawing capital from domestic and overseas limited partners anchored by industry founders including Girish Gaitonde (Xoriant), M R Jyothy (Jyothy Labs), and Raj P (Zaggle). The vehicle targets a portfolio of up to 15 companies deployed within 12-18 months.

EIF's product is the fund itself, underwritten by direct equity investments led or co-led by the fund manager. Over one-third of the ₹166 crore corpus has already been deployed across seven portfolio companies — Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL, and NeverInstall — alongside two publicly disclosed lead-investor seed rounds: a $1.3 million round in Bengaluru-based Consuma (October 2025), an AI consumer intelligence platform, and a ₹6.2 crore round in Hyderabad-based Workroom Automation (March 2026), a unified operating system for global manufacturing. The fund does not disclose management fees, carry, or pricing terms publicly.

The fund is led by Partner Krishna Jha, a 25-year operator-investor with prior exit experience (founder of ITFinity, acquired by OnMobile and taken public) and direct investment exposure to more than 50 startups. Deal sourcing runs through direct founder-network outreach and referrals from the Equirus Group ecosystem and the fund's founder-investor LP base, rather than via intermediaries or external placement agents. As part of Equirus Group, EIF sits alongside the parent's broader financial-services franchise, including Equirus Wealth's reported $4B+ AUM digital wealth platform serving 300,000+ clients, providing distribution infrastructure that EIF can indirectly leverage for portfolio-company GTM and LP-relationship depth.

Name

Equirus InnovateX Fund

Legal name

Equirus InnovateX Fund (First Scheme of Equirus Alternative Fund Trust)

Website

https://equiruswealth.com

Company type

Private

Founded year

2024

Operating status

Operating

Short description

Equirus InnovateX Fund is the early-stage venture capital arm of Equirus Group, investing seed to pre-Series A capital in B2B deep tech, SaaS, and fintech startups in India via its maiden ₹166 crore fund.

Ownership category

akta.pro rank

Product category

Venture Capital / Early-Stage Investment

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industry

Corporate Fintech / Insurtech CVC (Financial-services-led CVC) (FSANAHAK)

Keywords

• Venture capital fund
• Early-stage investing
• B2B tech investing
• Deep tech startups
• Seed funding

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Venture Capital Returns: The fund generates returns through equity investments in early-stage B2B technology startups, deploying capital in seed and pre-Series A rounds with the expectation of returns through exits via IPOs, acquisitions, or secondary sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Equirus InnovateX Fund is the early-stage venture capital arm of Equirus Group that invests seed-to-pre-Series A capital in B2B deep tech, SaaS, and fintech startups in India. The fund operates as a SEBI-registered Category I Alternative Investment Fund (AIF) and supports founders with capital, mentorship, and access to the Equirus Group network across financial services and enterprise technology.

Product overview

Equirus InnovateX Fund is the early-stage venture capital arm of Equirus Group, operating as a SEBI-registered Category I Alternative Investment Fund. The fund deploys capital from its maiden ₹166 crore B2B technology fund into seed and pre-Series A startups across deep tech, SaaS, and fintech sectors. Parallel to the VC operations, Equirus Group operates Equirus Wealth, a digital wealth management platform offering goal-based investing, SIP, mutual funds, portfolio management, and estate planning services with a reported $4.0+ billion in wealth under management.

Differentiator

Problem solved

Functional benefit

Products and services

• Equirus InnovateX Fund (EIF)

Quantifiable outcome

• Maiden fund raised ₹166 crore with investments from domestic and overseas investors
• +1 more outcomes

Named customers8 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Speciale Invest: India-based seed and early-stage VC focused on deep tech, enterprise SaaS, and emerging tech. Directly comparable to EIF in deep tech / SaaS seed thesis and Indian geography.
• pi Ventures: India-focused early-stage VC specializing in deep tech and AI startups at seed and Series A. Closely comparable to EIF in deep tech thesis and seed-to-Series A positioning.
• India Quotient: India-focused early-stage VC investing in seed rounds in B2B and consumer startups. Similar to EIF in fund size, stage focus, and Indian seed market positioning.
• 100X.VC: India-based early-stage venture fund that writes seed and pre-Series A checks into B2B and consumer startups. Directly comparable to EIF in stage focus, ticket size, and India-based seed deployment.
• Better Capital: India-based early-stage fund backing seed-stage B2B SaaS and fintech founders. Comparable in stage, geography, and B2B tech focus.
• Ankur Capital: India-focused early-stage VC investing in deep tech, SaaS, and emerging tech startups at seed and Series A. Directly comparable in deep tech / SaaS early-stage scope.

Broad incumbents

• Blume Ventures: One of India's most established early-stage VC firms, investing across SaaS, fintech, and deep tech at seed through Series A. Comparable as a broader incumbent in the same India early-stage B2B tech space.
• Kalaari Capital: India-based early-to-growth-stage VC with a strong portfolio of B2B SaaS, fintech, and consumer tech. Comparable as a broader incumbent operating in India's seed-to-Series A B2B tech market.

Emerging players

• Antler India: Global early-stage VC with a strong India presence, focused on pre-seed and seed B2B tech founders. Comparable in early-stage B2B tech focus though typically pre-seed.

Regional players

• Venture Catalysts: India-focused early-stage investment network and syndicate platform. Co-investor alongside EIF in seed rounds (e.g., Workroom Automation), comparable in India seed-stage B2B tech exposure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/EquirusGroup
• YouTubeyoutube.com/@equirusgroup
• Facebookfacebook.com/Equirus
• LinkedInlinkedin.com/company/equirus
• Instagraminstagram.com/equirusgroup

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Equirus InnovateX Fund