India, Feb. 17 -- Financial services company Equirus Group has announced the final close of its maiden early-stage venture capital (VC) fund, Equirus InnovateX Fund, at Rs.166 Cr ($18.3 Mn). The company had floated the early-stage fund in January 2024 with a target corpus of at least Rs.207 Cr ($25 Mn).

With the fund, the firm aims to back up to 15 startups operating in sectors like SaaS, deeptech, fintech, among others. It would primarily focus its investments in the B2B space. So far, it has deployed over one-third of the corpus, and has invested in seven startups, namely Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL and NeverInstall. The remaining capital is expected to be deployed over the next 12-18 months.

As per the firm,...