Yatra Angel Network (YAN) Angel Fund, an early-stage fintech-focused fund, has received approval from the Securities and Exchange Board of India (SEBI) to launch its Rs 90 crore early-stage fintech-focused Alternative Investment Fund (AIF).
The fund will invest in 8-10 fintech startups annually across pre-seed, seed, and pre-series A rounds, the firm said in a press release.
YAN is an early stage fintech focused SEBI registered CAT I alternative investment fund. Some of the LPs in the fund include Madhusudanan R, Naveen Kukreja, Subramanya S V, Omkar Shirhatti, Prachi Dharani
YAN (via Fintech Yatra) had previously invested in startups like M2P Fintech, OneCard, Tartan, DataSutram, PayGlocal, ShopSe, and Riskcovry, among others.
In the past couple of months, around a dozen venture capital and debt firms have announced their new fund. The list counts Chiratae Ventures, Fundamentum, Stride Ventures, Merak Ventures, Cactus Ventures, Elev8 Venture Partners, StartupXseed, Blacksoil, Kettleborough VC, Fireside, Avatar Ventures, Alteria Capital and IAN. According to an Entrackr’s report, over 90 VCs, PE, and debt funds had announced their new fund launch as of July this year