Yatra Angel Network receives SEBI approval for Rs 90 Cr early-stage fintech fund
- ByStartupStory | July 5, 2022
The Securities and Exchange Board of India (SEBI) has given Yatra Angel Network permission to establish its Rs 90 Cr early-stage fintech-focused Alternative Investment Fund (AIF). The fund presently has a base of more than 150 angel investors, including seasoned bankers, insurance agents, and founders of fintech startups. Some of the many angel investors include Madhusudanan R, creator of M2P Fintech, Ashish Goyal, cofounder and CFO of EarlySalary, Sayali Karanjkar, former cofounder and CBO at Paysense, and Naveen Kukreja, cofounder and CEO of Paisabazaar.
25–30 early-stage fintech businesses will get the majority of the funds from the authorised Category-I AIF. Over the following three years, the company would engage in seed-stage investment rounds with the help of the fund, with checks averaging between Rs 1.5 Cr and Rs 3.5 Cr in size. Previous investments made by Yatra Angel Network include M2P Fintech, One Card, Payglocal, ShopSe, and Riskcovry.
Pankaj Singh, partner at Yatra Angel Network stated, “YAN seeks to be a catalyst for early-stage fintech startups to help them with coaching on business models, growth funding, and network access with investors bringing value to the founder’s firm.”
By providing subject matter knowledge and network access, Yatra Angel Network’s INR 90 Cr AIF also intends to catalyse the development of financial firms, enabling start-ups to develop to their full potential. Yatra Angel Network is an early-stage investment company with its headquarters in Mumbai.
It intends to encourage entrepreneurship, especially in the fintech industry, which includes payments, loans, insurance, wealth, inclusion, and other areas. The clearance of Category-I AIF by SEBI for Yatra Angel Network comes at a time when the startup environment, particularly in the fintech sector, is clearly experiencing a capital shortage.
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