In a recent development, financial services firm Equirus Capital, founded by Ajay Garg in 2007, introduced the Equirus InnovateX Fund (EIF), a $25 million investment initiative to support seed-stage technology companies.
Equirus Capital is a prominent player in the investment banking sector, offering a wide array of services, including structured finance, capital markets, institutional equities, wealth management, and portfolio management. The firm primarily caters to middle-market companies in financial services, industrials, infrastructure, real estate, consumer, and healthcare sectors.
The Mumbai-based company has outlined its strategic focus on key segments such as software as a service (SaaS), deep tech, fintech, and other emerging sectors, with a primary emphasis on business-to-business (B2B) models. The EIF, ranging from $500,000 to $1 million, is set to be deployed across 15-20 companies demonstrating proven track records of sustainable business models and robust monetization strategies.
Equirus Capital boasts a substantial track record, having executed over 240 transactions in areas such as mergers and acquisitions (M&A), private equity (PE), initial public offerings (IPOs), qualified institutional placements (QIPs), rights issues, and structured finance. The firm takes pride in serving a customer base exceeding 100,000 and collaborating with more than 153 clients.
Regarding financial performance, Equirus Capital reported a marginal 3.6% growth in revenue from operations to Rs 153.6 crore during the fiscal year 2022-23, compared to Rs 148.3 crore in the previous fiscal year. However, profits witnessed a 37.8% decline to Rs 21.86 crore in FY23 from Rs 35.15 crore in the preceding year, per the company’s consolidated financial statement with the Registrar of Companies.
