Epiq Capital is a Mumbai-based growth and later-stage technology investment firm launched in 2016 by Rishi Navani, a founding member of Matrix Partners India. The firm's mission, stated plainly on its website, is to back the founders building the Magnificent 7 of India — the handful of technology companies it believes will dominate the country's next decade of value creation. Its backdrop thesis is the $5 trillion digital India opportunity it sees unfolding over the next ten years.

Epiq raised its debut Fund I of $100 million in 2017 and closed its second India-dedicated vehicle, Fund II, at $225 million in June 2023 — oversubscribed and well above its initial $150 million target, as reported by the Economic Times. Unusually for the Indian market, roughly 75% of the second fund came from domestic investors — tech entrepreneurs, industrialists, sports and entertainment leaders, family offices and sovereign wealth funds — a deliberate shift from Fund I, which was sponsored solely by foreign limited partners. Across the two funds, assets under management stand at over $300 million.

The firm writes growth-equity cheques of $20–25 million per company (up from $5–10 million in Fund I), doing both primary and secondary transactions and typically taking 2–8% stakes in late-stage tech firms. Its portfolio reads as a who's who of Indian tech: Lenskart, Dailyhunt, Cult.fit, Pristyn Care, Zepto, Giva, Bhanzu, Park+, Builder.ai, Mswipe, NestAway and Teachmint. At the Fund II close, the firm said its portfolio companies carried an average annualised revenue run rate of over $250 million with revenue compounding at more than 75% over three years, and Navani reported Fund I tracking close to a 40% IRR.

  • Lenskart — eyewear unicorn, a Fund I breakout
  • Zepto — quick-commerce leader and India's fastest unicorn
  • Cult.fit & Pristyn Care — fitness and healthtech anchors
  • Dailyhunt — vernacular content platform
  • Giva & Bhanzu — newer bets in jewellery and edtech

Why it matters for founders

If you are running a late-stage Indian tech company with strong unit economics and want a growth partner rather than a headline hunter, Epiq is built for exactly that slot: big follow-on capacity, secondary-friendly structures, and a domestic LP base that understands Indian market cycles. A $20–25 million cheque from a team that has lived through Lenskart and Dailyhunt is serious validation ahead of an IPO.