In October 2022, the Indian Angel Network (IAN) revealed the launch of its second fund, the “IAN Alpha Fund,” with an impressive corpus of ₹1,000 crore. This marked a significant leap from its inaugural fund, which concluded in 2019 at ₹375 crore.

The IAN Alpha Fund recently welcomed Priyank Garg as its managing partner. In discussions about the fund’s focus, Garg outlined a strategic preference for directing investments towards sectors such as clean tech, health tech, biotech, agritech, edutech, fintech, manufacturing 4.0, and deep tech.

The Alpha Fund aims for a corpus of ₹650 crore, with a potential ₹350 crore green shoe option. Notably, 40-45% of the corpus has already found subscribers, and the first closing is anticipated soon.

Garg emphasized that the initial investment target spans from ₹7 crore to ₹25 crore, reflecting the fund’s commitment to backing businesses at various stages of growth. Furthermore, the fund is open to considering follow-on investments in companies that demonstrate ongoing potential and align with its investment strategy.

The IAN Alpha Fund’s expansion signals a robust commitment to fueling innovation and growth in key sectors within India’s startup ecosystem. As the fund takes shape under the leadership of Priyank Garg, it is poised to play a pivotal role in supporting and nurturing ventures that hold promise in the dynamic landscape of technology and entrepreneurship.

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