Indian Angel Network (IAN), one of the world’s largest seed and early stage investment groups in the startup eco-system, is to raise $38 million from India and overseas for its second round of Indian funding. It has raised $32 million from Indian domestic market for the $70 million IAN Fund 1 which is to support second round for funding for start-ups in India, IAN’s co- founder Padmaja Ruparel said here today. Confirming the $70 million fund, she said “IAN fund is creating India’s single largest horizontal platform for seed and early stage investment, attracting the best entrepreneurs and best investors for mentoring, and with global market access – all to nurture startups”. “This is important as entrepreneurs can raise from $30,000 right to up $7-$8 million. All they need to do is to keep performing and building the business,” Ruparel told PTI after addressing the India-Singapore Entrepreneurship Bridge 2018 “InSpreuneur”.
Ruparel also underlined the need to mentor start-ups with expert support, hand-holding and ensure market access with delivery and supply chain. “Money are there for the start-ups, but there is a strong need to nurture these young companies,” she said. IAN has built a market place for start-ups from mentors to market access and operative chains, she added. IAN has about 470 investors from 11 countries with investment in 130 companies in 17 sectors.