IAN Alpha Fund to Explore Clean Tech and Fintech Investments

IAN Alpha
IAN Alpha

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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