Indian Angel Network (IAN), the largest group of angel investors in the country is launching a new Rs 450 crore fund to support startups. The fund will support startups at seed and early stage, president of IAN, Padmaja Ruparel said today at the TiEcon Delhi 2017. "Government's fund for startups is one of the investors in this fund. Through this fund, we will invest nationally across sectors", she said.
Started in April 2006, the Indian Angel Network is a network of angel investors keen to invest in early stage businesses which have a potential to create disproportionate value. The members of the network are leaders in the entrepreneurial eco-system as they have had strong operational experience as CEOs or a background of creating new and successful ventures.
In addition to money, the angels also help startups with high quality mentoring, vast networks and inputs on strategy as well as execution.
The latest fund from IAN will look at investments ranging anywhere between Rs 25 lakh to Rs 50 crore, across sectors such as agriculture, healthcare, education, retail, financial services and gaming among others.
The network is spread across 7 locations across the globe and offers membership to 450 marquee entrepreneurs and CEOs.. They have made investments in more than 81 companies. Some of the companies that IAN has funded are Fablley – the online fashion start-up, Pikkol, Pretty Secrets, Taxspanner and Wom Momo among others.
“Our goal is to fund start-ups through the most challenging early stages of funding. I am confident that the fund will have a significant role in creating high-growth companies in our country” said Saurabh Srivastava, ahairman and co-founder at IAN.
