Rishi Navani’s Epiq Capital targets $150 million second fund amid frenetic tech dealmaking

Epiq Capital founded by Rishi Navani is aiming to close its second India fund of $150 million to invest in growth-stage startups, coinciding with the heightened activity in the technology investing space, two people in the know of the matter said.

After having backed companies like eyewear retailer Lenskart, news aggregation platform Dailyhunt, and health and fitness startup Curefit from its $100 million Fund-I, Epiq is eyeing domestic capital for its new vehicle. This will be a move away from the strategy of its maiden fund, which was sponsored solely by foreign limited partners, as per sources familiar with the fund’s thinking. “The fund will likely raise 50-50 from domestic and international sponsors this time around,” said a person close to the development.