Mumbai’s Equentis Wealth Advisory has launched its first alternative investment fund (AIF) with a target of Rs 500 crore to invest in early-stage startups in sectors like defence, consumer tech, logistics, and fintech. The firm plans to support 40-50 startups with investments ranging from Rs 4 crore to Rs 10 crore, capitalizing on growing interest from smaller investors. Founder Manish Goel highlighted the potential for significant returns in startup investments compared to mature listed markets. The AIF has already secured Rs 50 crore in commitments and made its first investment in a logistics tech startup.