Financial services firm Equirus Capital Wednesday said it has onboarded angel investor and ITFinity founder Krishna Jha as a venture partner for InnovateX Fund, a $25-million venture capital fund.
Jha’s career spans over 25 years. His journey began with Citi, followed by an entrepreneurial venture in the mobile internet space. His first company, ITFinity, was acquired by Infosys spin-off OnMobile.
Over the past decade, Jha has been an independent investor, focusing on investments in both early-stage companies as well as public markets. His portfolio of investments in private companies includes Wow! Momo, AdmitKard, PlanetSpark, Samosa Party and SquarePlums. He has also made exits from some early investments in Indian startups, including Adpushup, Kwench, Sapience and Sirona/Peebuddy.
In his new role, he will continue to expand Equirus’ footprint in the venture capital and wealth management sectors. His role as a venture partner will involve fostering growth within the portfolio, the company said in a release.
"Krishna's extensive experience and proven track record in the industry will be pivotal in driving the success of the InnovateX Fund. His strategic vision and leadership will enhance our ability to deliver innovative solutions and superior value to our investors," said Ajay Garg, founder and managing director of Equirus.
Equirus made the first close of the InnovateX Fund, which also happens to be its maiden venture capital fund, in February. The first close came within two months of securing approval from SEBI for a category-I alternative investment fund (AIF).
The fund is looking to make 15-18 strategic investments this year. It will invest across sectors such as software as a service (SaaS), deeptech, fintech and other emerging industries. Its average ticket size will be Rs 4-8 crore. So far, founders Agarwal and Sunder Nookala operated the fund.
