Ajit Deshmukh of Equirus on the investment firm’s journey in FY22 and it plans to invest in cryptocurrency start-ups

Financial services Equirus Group which runs Equirus Capital, a mid- market, full service investment firm is looking to expand its services into blockchain start-ups besides cryptocurrency firms. The investment firm is in the process of raising funds for a blockchain company. In conversation with FE.com’s Ritarshi Banerjee, Ajit Deshmukh, managing director and co-head – investment banking, Equirus talks about how a differentiated strategy has helped in its growth. (Edited Excerpts)

As per various reports, Equirus had closed about five capital market transactions worth Rs 42 billion in 45 days. How do you plan to continue to grow in FY23?

In FY22, the company grew by 150%. A lot of the growth was based on factors such as increase in recruitments, initial public offerings (IPOs), transactions,among others. Investments increased across all segments right from an early stage to mature markets which included mergers and acquisitions. So, Equirus’s growth is probably in line with the industry standard, maybe, a little better. I believe that we act as mirrors of the financial markets. When we grow then the overall industry grows at a similar pace. This further enables investment bankers to grow and deliver transactions on time. The investment climate has been positive, and confidence has been high across the board and other sectors. It is the first time we have seen activities across sectors like infrastructure and technology and IT, with one being asset oriented and the other being IPN and service oriented. We’ve also seen action across sectors including chemicals and pharmaceuticals. The current challenge of our industry is the continuous hiring of people.

How has been Equirus’ strategy different from other investment firms, and what has worked in your favour?

If you look at our size and shape, we’re probably the only full-service investment firm which provides advisory services on mergers and acquisitions, private equity, desk syndication, among others. We also have a broking…

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