Equirus to set up a Rs 1500 Cr private equity fund to back mid-market cos

Srinivasan, who was formerly the Chief Executive Officer of Oman India Joint Investment Fund (OIJIF), where he managed two AIF-registered funds aggregating approximately $330 million, will join the board of Equirus Wealth.

The new fund will look to focus on mid-market growth investments targeting digitally-led, AI-savvy, high-growth consumer, financial services, industrial and healthcare sectors. It will also look to create value for its companies through strategic partnerships.

“We are delighted to welcome Srinath to the Equirus family. His proven track record across multiple business cycles in identifying and scaling mid-market growth companies, coupled with his ability to deliver consistent value for investors, aligns perfectly with our vision of building a world-class, multi-asset financial services platform. His leadership will be instrumental in launching and scaling our late stage private equity fund and will also bring immense strategic depth to the Equirus Wealth board,” said Ajit Deshmukh, Managing Director, Equirus Group.

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The launch of the fund comes at a time when India’s private equity and venture capital investments have seen a marginal downtick of 5% in the third quarter compared to the previous quarter, according to the recent EY-IVCA monthly PE/VC roundup.

However, the number of PE/VC investments recorded during this quarter has been 20% higher than investments in the year-ago period, led by higher exit opportunities, the report added.

“I am excited to partner with Equirus – a firm renowned for its entrepreneurial spirit, trust, innovation, and client-centricity across its businesses,” said Srinivasan