The fund will support all the IAN deals as well as independently co-invest with other VCs. Together, IAN and the IAN Fund (plus co-investors), will invest approximately Rs 1,500 crore in around 160 companies over the next four years.
In the good news of the day, the Indian Angel Network (IAN) today announced a new global fund worth Rs 350 crore. The first close of Rs 175 crore, raised primarily from the domestic market, has industry stalwarts like Kris Gopalakrishnan, Co-founder, ex-CEO, Infosys, Sunil Munjal, Joint Managing Director, HERO Corp, and Dr Devi Shetty, Founder and Chairman, Narayan Hrudalaya, as part of its advisory committee.
The IAN said it was sector-agnostic, but the SEBI-registered early-stage venture fund will take a special interest to bolster early-stage startups in the healthcare and medical devices, SaaS, marketplaces, fintech, big data, AI, and hardware, supporting entrepreneurs with funds in the range of Rs 50 lakh to Rs 30 crore, co-investing with other VCs.
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