Indian Angel Network focused on driving exits from first fund, says co-founder Raman Roy

Angel investing platform Indian Angel Network (IAN) may launch at least two more funds by 2030, one of which is likely to be launched by 2026. Without disclosing further details, IAN stated that one of the funds may be sector focused. Additionally, IAN also has some exits in the pipeline, which will be announced once transactions are completed in alignment with the founders and other shareholders of these companies.

In a conversation with Business Today, Raman Roy, Co-founder of IAN, said exits are critical for the network. Thus, the IAN Fund I is currently focused on driving exits.

Founded in 2006 by Roy, Padmaja Ruparel, and Saurabh Srivastava, IAN started with the aim of supporting early-stage start-ups from industries such as agriculture, e-commerce, education, hospitality, internet, retail, and semiconductor, among others.
Since inception, IAN claims to have invested around Rs 1,000 crore in over 225 start-ups, creating about 125,000 jobs across India. Though spread across India, most of the investments are in cities like Bengaluru, Mumbai, and Delhi NCR, indicating a preference for start-ups in urban centres with robust entrepreneurial ecosystems.

It says it is supported by more than 470 investors from across 11 countries. The network counts Zypp Electric, WOW! Momo, Spinny, Manastu Space, Data Sutram, WebEngage, among its portfolio of firms it has invested in.

IAN has launched two funds with a total corpus of Rs 1,375 crore. While the IAN Fund I worth Rs 375 crore was launched in 2019, IAN Alpha Fund worth Rs 1,000 crore was launched in 2022.

Commenting on the goals of the network by 2030, co-founder Saurabh Srivastava said that it aims to reach the milestone of investing Rs 5,000 crore in 500 start-ups, creating about 500,000 jobs along the way. With the latest fund, it plans to sign larger cheque to enable companies to scale rapidly, and focus on backing start-ups with special focus on healthtech, edtech, and those leveraging AI.