Indian Angel Network (IAN), one of the largest angel networks in Asia, recently marked the first close of its maiden fund at Rs 175 crore ($27.3 million). The fund, which has a target of Rs 350 crore ($55 million), aims to make early-stage investments in 150-160 companies in the next few years.
Established in 2006, IAN has close to 450 members across the world. With investors from 10 countries, IAN’s presence spans seven locations, which includes cities in India and UK. The network is sector agnostic and has funded startups across 17 sectors in India, including education, e-commerce, healthcare and hospitality. Between 2014-2016, IAN invested over $32 million in 60 deals.