Lenskart investor Epiq Capital’s Fund II oversubscribed at $225 million

Venture capital firm Epic Capital on Wednesday announced it has raised $225 million under its second fund that will invest a significant portion of the proceeds in tech startups.

The company is an investor in unicorns such as Lenskart, Pristyn Care, Cure.fit, Dailyhunt, and Builder.ai.

“Epiq Capital II is oversubscribed at US$225 million,” said Rishi Navani, Founder and Managing Partner, Epic Capital II. Epic Capital had set a target of raising $200 million for the second fund. It plans to invest a significant portion of the second fund in technology startups.

The second fund brings together prominent local and global investors including technology entrepreneurs, industrialists, sports and entertainment leaders, family offices, sovereign wealth funds and other institutions.

Epiq Capital said it will continue to invest in exceptional entrepreneurs targeting India’s huge $5 trillion digital opportunity in the next decade.

“Most funds have 20-25 companies in their portfolio. We tend to have 8-10 companies. Most of our portfolio companies are either profitable or about to become profitable. If you look at the top five companies in our portfolios, they have an average income of 2,000 crores. The biggest is nearing 8,000 crores this year,” Navani said.

Epiq Capital is investing up to $25 million in the startup.

Navani said all of the five major companies in Epic Capital’s portfolio are expected to go public within the next 18 to 36 months.