Early-stage investment platform IAN Group on Wednesday announced the closure of its second venture capital vehicle, the IAN Alpha Fund, with capital commitments totalling $100 million.
The fund will focus on backing early-stage companies and MSMEs led by strong founding teams, the firm said in a statement.
Since its launch, the IAN Alpha Fund has invested in 10-12 emerging startups, many founded by first-generation entrepreneurs across India, including those in tier-II and tier-III cities. These companies are working with technologies such as AI, space tech, semiconductors, and biotech and are building indigenous solutions in sectors like healthcare, climate, manufacturing, cybersecurity, and environmental sustainability, the firm said.
Investors in the fund include government investors such as the DPIIT-Fund of Funds for startups managed by SIDBI; Self Reliant India Fund; ACE Fund; Odisha Startup Growth Fund; and Agri Sure Fund of Funds Scheme managed by Nabventures Ltd., as well as institutional investors including Buimerc Corporation Ltd., Dubai, HDFC Life, DS Group Family Office, National Bank for Agriculture and Rural Development, alongside select family offices and individual investors, the statement added.
“The IAN Alpha Fund’s thesis is to invest and breed innovation solving real problems or building for India’s strategic imperatives. The role that the fund plays is way beyond funding, to bring mentoring, market access, and governance frameworks for these early companies. The fund focuses on technology innovation by Indians, from India, for India & the globe,” said Padmaja Ruparel, co-founder, IAN Group.
IAN Group, a seed and early-stage investment platform, boasts a portfolio of over 250 companies spanning sectors including space tech, biotech, defence tech, AI/ML, SaaS, robotics, fintech, health tech, manufacturing tech, and consumer tech. It enables entrepreneurs to raise anywhere from Rs 50 lakh to Rs 50 crore.
