Equirus launches new fund, seeks $25M for deeptech startups

TLDR:

• Insurance broker Equirus has launched a $25 million Equirus InnovateX Fund (EIF) to invest in seed-stage tech startups
• The fund will primarily back business-to-business (B2B) startups in software-as-a-service (SaaS), deeptech, fintech, and other emerging sectors

Insurance broker Equirus has launched a $25 million Equirus InnovateX Fund (EIF) to invest in seed-stage tech startups. The fund will primarily back business-to-business (B2B) startups in software-as-a-service (SaaS), deeptech, fintech, and other emerging sectors. Equirus said $500,000 to $1 million will be invested in 15-20 companies showcasing “proven track record of sustainable business models, strong monetization strategies with capabilities of solving critical problems in large addressable markets.” The company provides full-service investment banking services for corporate clients and offers services covering equity capital markets, debt capital markets, structured finance, PE, M&A, insurance broking, and wealth products. Amid a tighter environment for funding, enterprise/ SaaS , deeptech and e-commerce founders had the most favorable funding experience last year and in 2024, SaaS and fintech founders continue to be the most optimistic among founders seeking fundraise, as per a report by debt firm InnoVen Capital India recently. Earlier this month, revenue-based financing platform Velocity had announced a Rs 300 crore fund to provide growth capital to B2B SaaS startups.