Seed and early-age investment platform, IAN launches ₹1000-cr fund
To invest in many sectors including agritech
Indian Angel Network (IAN), a platform for seed and early-age investments, has launched a ₹1,000 crore fund called IAN Alpha fund.
According to IAN, the fund will invest in cleantech and the environment, healthtech, agritech, edutech, fintech, and emerging sectors like Industry 4.0, Space tech, Web 3, robotics and more with cheque sizes ranging from $1 to $5 million, along with co-investors. It also intends to invest in companies with both top and bottom lines or IP focus.
“IAN is recognised in the industry for pioneering angel investing in India and it has continued to innovate by launching a venture capital fund (IAN fund 1) along with the Angel Group to provide a seamless platform for seed and early-stage investing. The launch of the IAN Alpha Fund is the logical evolution of our desire to provide quality entrepreneurs with money, mentoring, and market access,” said Saurabh Srivastava, co-founder, IAN.
To invest 5,000 crore
The fund is in line with the platform’s objective to invest ₹5,000 crore in 500 businesses, which will result in the creation of 5,00,000 jobs, IAN claimed in a release. According to IAN, it will continue to make the process of raising money simpler, provide mentorship from people who have already succeeded in their endeavours, and take advantage of the IAN ecosystem’s network to help entrepreneurs create high-growth businesses.
IAN Alpha Fund is the second fund in IAN’s series of funds. It is being built to leverage the portfolios of both the IAN Angel platform and IAN Fund 1 apart from investing in new sustainable businesses solving real problems, and leveraging technology.