Epiq Capital, founded by Rishi Navani, targets its second fund of $150 million to invest in growth-stage startups. Epiq started purchasing secondaries in mature tech firms and is putting itself as an investor that will pick anywhere between a 2 per cent and 8 per cent stake in tech firms in a mix of primary and secondary shares. The fund will put $10-20 million into these companies. So far, it has invested in 6 companies.

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Epiq was started five years ago by Navani. The firm took a stake in Lenskart when it was valued at $400 million. The company currently has 3-5 times return on capital invested. The fundraising by Epiq comes amid a boom in tech investments in India. Indian startups had advanced $25.2 billion till September 9 this year compared to $11.2 billion in 2020.