Seed and early-age investing firm Indian Angel Network (IAN) has launched the IAN Alpha Fund, a SEBI registered cat second VC fund with a funds corpus of Rs 1,000 crore. This is the second in the series of IAN funds.
IAN aims to invest this fund in 500 startups, with Rs 5000 crores and creating 500,000 jobs, it said in a press statement. It will continue to ease fundraising for startups, bring guidance from mentors as well as leverage the global network of the IAN ecosystem, enabling entrepreneurs to build high growth, valuable companies.
IAN Alpha Fund is the second fund in IAN’s series of funds. The fund looks to invest in companies with both top and bottom lines OR IP focused.
IAN claims to have seeded and bred companies which today, have a market valuation of more than $9 billion and includes 3 unicorns as well as 5 soonicorns in its portfolio of over 200 companies. With an investment of Rs 900 crore, the IAN claims to have catalysed investments of Rs 18,000 crore and created over 80,000 jobs.
The company’s fund is looking to invest in Cleantech and environment, healthtech, agritech, edutech, fintech and emerging sectors like industry web 3, robotics et al with cheque sizes ranging from $ 1 to 5 million, along with co-investors.