IAN Fund, a sector-agnostic investment platform, has announced the final closure of its fund at Rs 375 crore. The firm said this exceeded its initial target by Rs 25 crore on the back of strong interest from investors across the country and overseas who were excited by IAN’s performance over the last decade.
Padmaja Ruparel, Founding Partner of the IAN Fund, said,
“We are pleased to announce the closure of our fund at Rs 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. Moving ahead, we aim to scale newer heights and play a bigger role in transforming and nurturing India’s entrepreneurial landscape.”
Since its launch in April 2017, IAN Fund has been facilitating growth and scale for innovative, high-potential startups 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 startup, delivering 3x returns to its investors in just 18 months.
Saurabh Srivastava, Founder of the IAN Fund, said,
“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.
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 would invest Rs 5,000 crore in around 500 companies over the next 10 years.
The fund has onstitutional 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, among others.
(Edited by Evelyn Ratnakumar)