IAN Group Welcomes Priyank Garg as Managing Partner of IAN Alpha Fund
IAN, the Indian seed and early-stage investment platform, welcomes Priyank Garg as Managing Partner of the IAN Alpha Fund, the second in the series of IAN Group’s funds. Priyank’s coming on board will strengthen the Fund’s top team and enable it to match and exceed its excellent track record of Fund 1 and the Angel Group.
An entrepreneur and active early stage investor, Priyank brings over 26 years of experience in the cleantech, manufacturing, healthtech, SaaS & technology sectors. A Stanford and IIT Delhi graduate, he brings cross border experience with Yahoo and has, over the last 15 years, invested in over 60 companies, across a variety of sectors, both in India and overseas.
Priyank co-founded IOTomation, a building IoT company in 2019. He is currently the President of the Delhi Chapter of ISHRAE (Indian Society of Heating Refrigeration and Air-conditioning Engineers). As a TiE Charter Member, supports the Million Sparks Foundation and is deeply engaged with various startup / early stage platforms like NASSCOM Emerge, India Innovation Initiative, Samsung Innovation, Times of India Big Challenge jury, etc.
Embarking on this new journey, Priyank Garg, Managing Partner, IAN Alpha Fund, said, “I am delighted to join the IAN Group as part of the IAN Alpha Fund for the next stage of our journey. As an angel investor, I have been investing with IAN for 14 years across sectors and have really appreciated of the depth of engagement, quality of portfolio founders, focus on governance and returns. Having tried many others, this is only platform that puts the health of the Indian startup eco-system at the heart of its work from the day of its founding to today. I look forward to progressing IAN’s focus on solving real problems of the world from India with tech, innovation and transformation, augmented with my passion and experience in Deeptech and Cleantech, and bring about India’s golden hour”
Speaking on the same, Saurabh Srivastava, Co-founder and Chairman, IAN, said, “We are delighted to welcome Priyank to the IAN Alpha Fund. He is well known in the seed / early stage investor ecosystem and we look forward to leveraging his business building experience for the Fund’s portfolio companies which, in turn, will enable high returns for our Investors.”
Ms. Padmaja Ruparel, Co-founder IAN and Sr. Managing Partner IAN Alpha Fund, said, “We are truly excited to have Priyank join the IAN Alpha Fund. He brings decades of experience in building businesses in India and the US, in environment friendly spaces. With his deep engagement with the startup ecosystem, he will just add to the mentoring and market access that IAN brings to its portfolio companies, ensuring a far lower risk to investors.
IAN Alpha Fund
IAN Alpha Fund, a Rs. 1000 crores (US$125mn) SEBI registered, AIF Category II VC Fund, is the second Fund in IAN’s series of Funds. It is being built to leverage the portfolios of both IAN Angel Platform and IAN Fund I apart from investing in innovative startups solving real problems for India and the world, with sustainable business models enabling scale by leveraging technology . With the IAN Alpha Fund, IAN continues its legacy of building a portfolio of high quality companies by founders who not only understand the customer need but have leadership qualities to build complementary and high execution focused teams to build valuable businesses.
Indian Angel Network is India’s first angel investor group, comprising renowned, successful entrepreneurs and dynamic CEOs from across the world. With investors from 12 countries, IAN’s presence spans 7 global locations. The platform is sector-agnostic and has funded innovative start-ups across 19 sectors in India and 7 other countries, thereby growing the global footprint of companies. IAN has been enabling excellent cash exits year-on-year to its investors for the last 14 years. Some of its marquee investee companies include Spinny, Box8, Uniphore Software Systems, WOW Momos, Consure Medical, FarEye, Propelld, Dhruva Space, WebEngage, and FarMart, amongst others.
Apart from the IAN’s angel investor network, the platform comprises BioAngels, India’s first sector-focused angel investor group, in partnership with BIRAC, an enterprise of the Department of Biotechnology. The IAN Group also includes the IAN Fund I, an INR 375 crore VC fund, and a Rs. 1,000 crores IAN Alpha Fund, to build the single largest platform for seed and early-stage investing enabling entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores from quality investors who provide funds, mentoring and global market access.