Epiq Capital raises $225 Mn for Fund II

Venture capital firm Epiq Capital has closed its second India-dedicated fund at $225 million, higher than the initial target of $150 million.

The Mumbai-based firm’s second vehicle was oversubscribed at $225 million as it was targeting a corpus of $200 million, the fund said in a press release. It marked its first close in December 2021 at $100 million.  

For the second fund, Epiq had roped in both domestic and global investors, unlike with its maiden fund, which was sponsored solely by foreign limited partners.

The new fund will make growth equity investments in around 10 companies in the technology space with ticket sizes ranging from $20-25 million. The fund will make both primary and secondary transactions in companies.   

Launched in 2016, Epiq Capital launched its $100 million first fund in 2017 and backed companies such as Lenskart, Curefit, DailyHunt and Teachmint, among others.   

Epiq is also an investor in app development platform Builder.ai, point-of-sale services provider Mswipe, online home rental startup NestAway, and healthtech company Pristyn Care.  

It claims that its portfolio companies have over $250 million in average annualised revenue run rate and have achieved over 75% annualised revenue growth over the last three years.