Crossing an unparalleled milestone in its impressive growth trajectory, the IAN Fund, a uniquely differentiated, sector-agnostic investment platform, has successfully closed its capital fund raise at INR 375 crore. This exceeded its ambitious initial target by a remarkable INR 25 crore on the back of strong interest from investors across the country and overseas who were excited by IAN’s performance and long term vision of creating the largest and most innovative platform for seed and early stage investing.
Since its launch in April 2017, IAN Fund has been facilitating growth and scale for innovative, high-potential start-ups through seed and early-stage investments. IAN Fund portfolio currently comprises over 34 companies across domains such as AI/ML, AR/VR, biotech, cleantech, fintech, agritech and healthtech, among others. The Fund most recently exited from TagBox, a Bengaluru-based logistics start-up, delivering a 3X returns to its investors in just 18 months !
Speaking at the closure of the fund, Padmaja Ruparel, founding Partner of the IAN Fund said “We are pleased to announce the closure of our fund at INR 375 crore. The fact that we have achieved and exceeded our capital target underlines our impressive growth trajectory and highlights the faith that investors have in our vision. I would like to congratulate the entire team at IAN Fund for their significant contribution to our latest milestone. Moving ahead, we aim to scale newer heights and play a bigger role in transforming and nurturing India’s entrepreneurial landscape.”
Saurabh Srivastava, Founder of the IAN Fund, said, “The Indian start up ecosystem has evolved rapidly and is now home to some of the most exciting and innovative ventures in the world, competing with the world’s best in building solutions for the top 1 bill people. But what is even more exciting and heart warming is how they are leveraging the latest tech developments and insights, coupled with innovative business models, to create solutions for the massive challenges that India faces in areas such as health care, education, cleantech, agriculture, etc. In doing so, they are not only addressing unmet needs but are exploiting a massive business opportunity on an unprecedented scale and making India the Silicon Valley for the next 6 bill people around the world. I am delighted that with the successful closure of the IAN Fund, the IAN platform is well on its way to achieving its vision of being the largest and most innovative platform for seed/early stage investments.
Sunil Kant Munjal, Advisory Board Member, IAN Fund, said, “The Indian start-up ecosystem is entering an exciting phase of its evolution. After the initial exponential growth and subsequent consolidation, we are witnessing a shift towards value creation and differentiation through unique business models. There is a need for more quality platforms like IAN Fund committed to helping new-age Indian entrepreneurs achieve their vision and drive innovation across the country.”
IAN Fund aims to build and exploit synergies with other VC Funds, family houses, corporates, prominent individual investors as well as the VC community while also promoting collaboration between enterprises and prominent VCs. Moving forward, the platform aims to build on its mission by raising Investment capital in excess of 5,000 crore by 10 years.
About IAN Fund:
The IAN Fund, an INR 375 crore fund, is a uniquely differentiated seed/early stage Fund which aims to transform India’s entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech and hardware. The Fund leverages and builds upon the strengths and success of IAN, the world’s largest angel investor group, to breed and grow innovative companies.
The fund has Institutional investors like SIDBI’s Fund of Funds for Startups, IIFL, Wadhwani Foundation, Yes Bank, Max Group, Gray Matters Capital, Hyundai along with marquee individuals like Kris Gopalakrishnan, Sunil Munjal, Rajan Anandan, Kanwal Rekhi, Vikram Gandhi, Jerry Rao amongst many others.
This is the first in a series of Funds so that over the next 10 years, the IAN Platform would invest Rs 5000 Cr in ~500 companies, making it the single largest platform for early stage investing, enabling companies to raise from Rs 25 lakhs to Rs. 50 crores from a single platform, along with co investors, providing startups funding through the most challenging stages of their growth. The IAN fund plays a critical role, not just in plugging the gap in funding, but also in using its vast network to provide strategic mentorship and market access