New Delhi: In 2019, the Indian Angel Network, a network of individual early-stage investors and its maiden venture capital fund IAN Fund invested ₹160 crores in 44 startups across sectors, becoming India’s largest horizontal early- and seed-stage platform, providing money and mentoring to innovative startups of the country.
According to the company, IAN invested in several ventures across sectors like manufacturing, cleantech, biotech, water, agritech, and cyber security. These include Monitra Healthcare, Chakr Innovation, Nocca Robotics and Mobycy.
The company said that 2019 also became the year of 11 lucrative exits for IAN investors across high-value companies including Kwench, LBB, TagBox, Propelld, FabAlley, Myspinny, Wow! Momo, Box8, and Native Special.
IAN gave an IRR (Internal rate of return) of a whopping 34% to its investors this year. Several portfolio companies like Coolberg, LBB, Bixcrum, Uniphore and StyleDotMe raised their next rounds from marquee VCs and strategic Investors.
Additionally, IAN has been working closely with the government to help create a more enabling startup ecosystem.
Padmaja Ruparel, Founding Partner, IAN Fund said, “IAN Fund successfully closed its first fund worth ₹375 crore, in addition to delivering impressive investor returns with exits from TagBox and Chakra Innovation. As we continue to shape synergies and promote collaborations between emerging business ventures and prominent VCs, the prospects look even more promising in the coming year. We are confident that, with its current growth trajectory, IAN Fund will achieve its objective of enabling the growth of innovative Indian start-ups with high-quality investment opportunities”
Moving forward, the Network and the Fund together aim to build on their performance and support over 500 Indian start-ups with an investment in excess of ₹5,000 crore in 10 years.