Fund News
IAN closes second VC fund Alpha at $100-M
Indian Angel Network (IAN) has announced the final close of its second VC fund, IAN Alpha, at USD 100 million. The fund's first close, at USD 43 million, occurred in December 2023.Limited partners for the fund include government investors such as the Department for Promotion of Industry and Internal Trade (DPIIT) Fund of Funds for Startups, managed by SIDBI; Self-Reliant India Fund; ACE Fund; and Odisha Startup Growth Fund. Institutional investors include Buimerc Corporation Ltd, HDFC Life, DS Group Family Office, NABARD, along with family offices and individual investors.The fund focuses on investing in early-stage companies and micro, small, and medium enterprises (MSMEs) hat leverage technology and innovation. Its investment thesis prioritises deep-tech while employing a risk-mitigation strategy that balances long-gestation ventures with shorter-cycle businesses.Since its launch, the fund has invested in 10-12 startups, including Dhruva Space, Morphing Machines, BrainSightAI, EndureAir, and FluxGen.
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