Indian Angel Network, one of the top angel investing platforms in India has announced the opening of its second venture capital fund, which will have a corpus of Rs 1,000 crore.
This will be a CAT II fund under the name IAN Alpha Fund that is registered with SEBI. It had closed its first venture capital fund at Rs 375 crore.
The fund will seek to make investments in industries like industry 4.0, spacetech, web3, robots, cleantech and environmental, healthtech, agritech, edutech, and fintech. There will be co-investors and checks ranging in size from $1 million to $5 million.
The IAN Alpha Fund will invest in firms that have significant development potential and use technology to address business problems involving a sizable consumer base, according to the investment thesis.
Padmaja Ruparel, a co-founder of IAN, will be in charge of the IAN Alpha Fund.
On the new fund, Padmaja said, “After IAN Fund 1, which has been fully deployed and started to return capital, we wanted to continue building on IAN’s vision of being the single largest platform for early-stage funding. Hence, launching the IAN Alpha Fund was the next logical step.”
Indian Angel Network is now valued $9 Billion
The new fund, according to IAN, is in line with its objective of investing in 500 companies for Rs 5,000 crore to generate 500,000 jobs. According to this angel platform, it has invested over Rs 900 crore in firms that it says have grown to have a market value of over $9 billion. Three unicorns and five soonicorns are part of its portfolio, which consists of more than 200 startups.
IAN co-founder Saurabh Srivastava said, “The launch of the IAN Alpha Fund is the logical evolution of our desire to provide quality entrepreneurs with money, mentoring and market access.”
