ian alpha fund: Indian Angel Network’s Alpha Fund announces first close at Rs 355 crore
Indian Angel Network (IAN) on Monday said it has made a first close of its second fund, IAN Alpha Fund, at Rs 355 crore.
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It had announced the launch of the latest fund in October last year, to explore investment opportunities across segments of fintech, healthcare, electronics, manufacturing and other areas.
IAN’s first fund, which was launched in 2017, had a total corpus of Rs 375 crore. Through that fund, IAN had invested in more than 200 startups, with three unicorns including Spinny, Druva and Uniphore.
A unicorn is a privately-held startup with a valuation of $1 billion and above.
Marquee investors of the IAN Alpha Fund include Small Industries Development Bank of India (SIDBI), SRI Fund, and several existing investors from IAN Fund I.
“The Alpha Fund will be instrumental in achieving our vision of investing in over 500 startups and creating 5,000,000 jobs by 2030, nurturing a thriving ecosystem, and driving substantial economic growth,” said Saurabh Srivastava, cofounder, Indian Angel Network.
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Across funds, IAN has invested over Rs 900 crore in over 250 startups, it said. “We intend to not only focus on India’s metros to harness, but also have a keen eye on tier 2 and 3 cities … Female founders will also be an area of focus,” said Padmaja Ruparel, cofounder of IAN and senior managing partner of the IAN Alpha Fund.
Through the Alpha Fund, IAN was looking to follow a strategy of investing in companies that are raising up to Rs 6 crore, and leading the round with Rs 1-2 crore. In an earlier interaction with ET, Ruparel had said the fund will focus on unit economics from an early stage.
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Indian Angel Network (IAN) on Monday said it has made a first close of its second fund, IAN Alpha Fund, at Rs 355 crore.
![]()
It had announced the launch of the latest fund in October last year, to explore investment opportunities across segments of fintech, healthcare, electronics, manufacturing and other areas.
IAN’s first fund, which was launched in 2017, had a total corpus of Rs 375 crore. Through that fund, IAN had invested in more than 200 startups, with three unicorns including Spinny, Druva and Uniphore.
A unicorn is a privately-held startup with a valuation of $1 billion and above.
Marquee investors of the IAN Alpha Fund include Small Industries Development Bank of India (SIDBI), SRI Fund, and several existing investors from IAN Fund I.
“The Alpha Fund will be instrumental in achieving our vision of investing in over 500 startups and creating 5,000,000 jobs by 2030, nurturing a thriving ecosystem, and driving substantial economic growth,” said Saurabh Srivastava, cofounder, Indian Angel Network.
Discover the stories of your interest
Across funds, IAN has invested over Rs 900 crore in over 250 startups, it said. “We intend to not only focus on India’s metros to harness, but also have a keen eye on tier 2 and 3 cities … Female founders will also be an area of focus,” said Padmaja Ruparel, cofounder of IAN and senior managing partner of the IAN Alpha Fund.
Through the Alpha Fund, IAN was looking to follow a strategy of investing in companies that are raising up to Rs 6 crore, and leading the round with Rs 1-2 crore. In an earlier interaction with ET, Ruparel had said the fund will focus on unit economics from an early stage.
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
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