India: Sanctum Wealth partners Equanimity to help clients invest in start-ups

Photo: Hemant Mishra/Mint

Sanctum Wealth Management on Wednesday announced a partnership with Equanimity Investments, a venture capital fund, to help clients diversify their portfolios by investing in early stage start-ups.

The association helps Sanctum Wealth strengthen its product proposition, while allowing Equanimity access to Sanctum’s wealthy clients for its fundraising efforts.

Equanimity Investments was founded by Rajesh Sehgal, who was previously associated with the India arm of Franklin Templeton Investments. The company is raising its debut venture capital fund of Rs100 crore.

The fund is sector-agnostic and will look at investments in early stage companies that are mainly involved in new products, new services, technologies, intellectual property rights based activities or companies that are pursuing innovative business models. The fund horizon will have a lifespan of seven years, which is extendable by two years.

Equanimity will look to invest in around 20 start-ups, with ticket sizes ranging from $1-3 million, said Sehgal, founder and managing partner at Equanimity. Sehgal added that the fund expects to achieve a first close by end of the month.

Investors who have so far backed the Equanimity fund include Mark Mobius of Templeton Emerging Markets Group and Vijay Advani, president of investment management arm of TIAA, Nuveen, USA.

Sehgal in his personal capacity has invested in 22 start-ups since 2007, eight of which have been exited successfully. These include EduPristine, GreenDust, Dhama Innovations, Zipdial, Speak Well Skills Academy, Textual Analytics, Express Bike Works and Squeakee.

“India’s start-up eco-system ranks third globally and is expected to grow dynamically in the next few years. The Indian government too, is encouraging development in this space through its proactive initiatives. The scope within the industry is immense and we are excited about the opportunities that could follow for clients,” said Prateek Pant, head of products and solutions at Sanctum Wealth Management.

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