Epiq Capital, founded in April 2016 by the former managing director of Matrix Partners India, Navani, boasts an impressive portfolio including Lenskart, a unicorn in the eyewear industry, Dailyhunt, a local language content platform, Curefit, a fitness startup, Builder.ai, an app development platform, and Pristyn Care, a healthtech startup.
In a stunning announcement, Mumbai-based investment firm Epiq Capital has successfully concluded the fundraising for Epiq Capital II, amassing an astonishing $225 Mn.
The firm revealed its intentions to deploy this substantial capital by investing in approximately ten companies, with each entity receiving a generous check of $20-25 Mn. Emphasizing the vast potential of the Indian digital market, Epiq Capital stated, “Epiq Capital II will continue to invest in exceptional entrepreneurs targeting the large $5 Tn digital India opportunity in the next decade.”
Epiq Capital II managed to attract the attention of four out of the top ten tech entrepreneurs, as well as prominent industrialists and leaders from the sports and entertainment sectors. Additionally, family offices and sovereign wealth funds have shown keen interest in participating in the fund.
Rishi Navani, the founder and managing partner of Epiq Capital, expressed his excitement during a press briefing, stating that the fund is primarily focused on domestic investments, with some international exposure. He further revealed that the fund aims to support startups that have the potential to achieve a valuation of $50 Bn or more within the next ten years, aptly named the “Tech Nifty 50” companies.
Epiq Capital, founded in April 2016 by the former managing director of Matrix Partners India, Navani, boasts an impressive portfolio including Lenskart, a unicorn in the eyewear industry, Dailyhunt, a local language content platform, Curefit, a fitness startup, Builder.ai, an app development platform, and Pristyn Care, a healthtech startup.
Notably, Navani anticipates that four of these portfolio companies will go public through initial public offerings (IPOs) within the next 18-36 months. Epiq Capital proudly claims that these companies have achieved an average annualized revenue run rate of over $250 Mn and have sustained a remarkable revenue compound annual growth rate (CAGR) of over 75% in the past three years.
Despite the prevailing funding challenges faced by startups in 2023, venture capital, angel, and private equity investors have announced a remarkable 32 funds worth more than $3 Bn until May. This infusion of capital aims to support startups at various stages. Intriguingly, out of the total funds announced in 2023, 66% (or 21 funds) primarily focus on early and growth-stage startups. Consequently, the successful conclusion of Epiq Capital’s fund raises brings welcome news for late-stage startups, as these players encounter greater hurdles in securing funding.
