Indian Angel Network launches Rs 1,000 Cr worth IAN Alpha Fund

• ByStartupStory     |    October 22, 2022

Indian Angel Network (IAN), a seed and early-stage investing organization has established the IAN Alpha Fund, a SEBI-registered cat second VC fund with a Rs 1,000 crore fund capital. This is the second fund in the IAN series, the first one being ₹375 crores which closed in 2019.

According to the fund’s investment committee member Saurabh Srivastava, the IAN Alpha Fund would have a basic investment corpus of roughly 650 crores (about $78 million) with an extra investment option of 350 crores (about $42 million).

IAN intends to invest Rs 5000 crores in 500 businesses, generating 500,000 employment. It will continue to facilitate startup finance, provide mentorship, and harness the worldwide network of the IAN ecosystem, allowing entrepreneurs to establish high-growth, valued businesses.

The investments in the fund will be divided into three categories or buckets. The first bucket will consist of collaborative investments with angels, with IAN’s average cheque size being about 1.2 crores ($0.14 million). The second bucket will consist of top-up investments in enterprises in which IAN has already invested, while the third bucket will consist of investments outside of its portfolio, with involvement from additional investors.

Padmaja Ruparel, IAN’s senior managing partner, and managing partners Jaideep Mehta and Vinod Keni will lead the Alpha Fund. Mehta was previously the CEO of Mosaic Media Ventures, which is owned by HT Media.

IAN claims to have seeded and fostered companies that now have a market capitalization of more than $9 billion, and its portfolio of over 200 companies includes three unicorns and five soonicorns. With a Rs 900 crore investment, the IAN claims to have catalyzed Rs 18,000 crore in investments and produced over 80,000 jobs.

The company’s fund is searching for co-investors to invest in Cleantech and environment, health tech, agritech, edutech, fintech, and new industries such as industry web 3, robots, and so on.

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