IAN’s Alpha Fund announces first close at Rs 355 crore; to invest in over 500 startups by 2030

IAN Alpha Fund, part of the IAN Group, today announced the first first close at Rs 355 crore. The amount surpasses the initial target corpus of IAN Fund I, marking a strong start for the venture capital fund.

The IAN Alpha Fund, with a total corpus of Rs 1,000 crore (approximately $119 million), is the second venture capital fund in the IAN Group's series.

Who are the investors?

The fund has raised investments from marquee investors, including the Small Industries Development Bank of India (SIDBI), SRI Fund, and several investors from IAN Fund I. 

The Alpha Fund, registered under SEBI's AIF Category II, is set to invest in a diverse range of sectors. These include clean tech, health tech/bio, fintech, deep tech, spacetech, consumer, agri-tech, cybersecurity, hardware, and robotics. The fund's broad sector focus reflects its commitment to nurturing a wide array of innovative startups.

The impact of the fund

Saurabh Srivastava, Co-Founder of the Indian Angel Network, emphasized the fund's ambitious goal to invest in over 500 startups, thereby creating 5,000,000 jobs by 2030.

“The Alpha Fund will be instrumental in achieving our vision of investing in over 500 startups and creating 5 lakhs jobs by 2030, nurturing a thriving ecosystem, and driving substantial economic growth while shaping a brighter future for the entrepreneurial landscape in India," said Saurabh

Previous Achievements and Future Plans

To date, the IAN Group has invested over Rs 900 crore in more than 250 startups, currently valued at over $9 billion (about Rs 75,000 crore). P

Padmaja Ruparel, IAN Co founder and Senior Managing Partner of the IAN Alpha Fund 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, where untapped potential and creativity abound and where we have already had some great successes. Female founders will also be an area of focus”.

Aiming to invest in 500 startups

The IAN Alpha Fund aims to invest Rs 5,000 crores in 500 startups, thereby creating 5 lakh jobs. This ambitious plan underlines the group's commitment to nurturing the startup ecosystem and driving economic growth. The focus on diverse sectors and a wide geographical reach, including Tier-II and Tier-III cities, sets the stage for a more inclusive and expansive impact on the Indian entrepreneurial landscape.

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