Venture capital firm Equanimity Investments has partnered with wealth management firm Sanctum Wealth Management, a tie up that will see the former look to raise over Rs.100 crore, through high net-worth individuals and family offices, for its maiden investment vehicle.
Equanimity Investments, which was founded by Rajesh Sehgal, a former senior director and head private equity for South Asia, Middle East and Africa for Franklin Templeton India, is on the road to raise a Rs. 100-crore fund, which will also have a greenshoe option of an additional Rs.100 crore. The fund, till date, has raised about Rs. 60 crore, and counts Mark Mobius as one of its investors. The first close, according to a senior Sanctum Wealth executive, is expected to be announced later this month. Through the tie up with Sanctum, Equanimity will look to raise the rest.
“The startup space in India is ex pected to grow exponentially given India’s inherent entrepreneurial culture…Our fund will help support startups that use technology as their backbone ensuring scalability and sustainability of their business models while providing clients to benefit from our experience and expertise,” Sehgal said in a statement.
While the fund, which will have an investment horizon of seven years and be extendable by an additional two years, will primarily focus on ventures within India, it will also look to invest in ventures outside the country’s borders.