Indian Angel Community (IAN), one of many main angel funding platforms within the nation, has introduced the launch of its second enterprise capital fund with a corpus of Rs 1,000 crore.
In line with a press release, this might be a SEBI-registered CAT II fund referred to as IAN Alpha Fund. It had earlier closed its first VC fund at Rs 375 crore.
The fund will look to spend money on sectors comparable to cleantech and atmosphere, healthtech, agritech, edutech, fintech, trade 4.0, spacetech, web3, robotics, and so on. The cheque sizes will vary from $1 million to $5 million, together with co-investors.
In line with the funding thesis, the IAN Alpha Fund might be investing in startups which have sturdy progress potential and leverage expertise to unravel enterprise circumstances throughout a big buyer base.
Padmaja Ruparel, Co-founder and Co-chair, Indian Angel Community
IAN Alpha Fund might be led by the IAN co-founder Padmaja Ruparel.
On the brand new fund, Padmaja mentioned, “After IAN Fund 1, which has been totally deployed and began to return capital, we wished to proceed constructing on IAN’s imaginative and prescient of being the only largest platform for early-stage funding. Therefore, launching the IAN Alpha Fund was the following logical step.”
In line with IAN, the brand new fund is aligned with its imaginative and prescient of investing in 500 startups with an funding of Rs 5,000 crore to create 500,000 jobs. This angel platform claims it has seeded and grown startups with an funding of over Rs 900 crore, which now have a collective market valuation of over $9 billion. From a portfolio of over 200 startups, it contains three unicorns and 5 soonicorns.
IAN co-founder Saurabh Srivastava mentioned, “The launch of the IAN Alpha Fund is the logical evolution of our want to supply high quality entrepreneurs with cash, mentoring and market entry.”