Indian Angel Network closes its fund after raising ₹375 crores

Padmaja Ruparel, founding Partner of the IAN Fund
  • Indian Angel Network has closed its fundraising for the IAN Fund after raising at ₹375 crore.
  • The fund over exceeded its target by ₹25 crore.
  • It currently has 34 companies in its portfolio, including the recently turned unicorn startup Druva.
Seed and early stage investment platform Indian Angel Network closed its capital raising activity for the IAN Fund as it overshot its target by ₹25 crore. The fund raised ₹375 crore in all.

“The fact that we have achieved and exceeded our capital target underlines our impressive growth trajectory and highlights the faith that investors have in our vision. Moving ahead, we aim to scale newer heights and play a bigger role in transforming and nurturing India’s entrepreneurial landscape,” said Padmaja Ruparel, founding Partner of the IAN Fund.

Some of the fund’s participants include Institutional investors like SIDBI’s Fund of Funds for Startups, IIFL, Wadhwani Foundation, Yes Bank, Max Group, Gray Matters Capital, and Hyundai. Individual investors like Kris Gopalakrishnan, Sunil Munjal, Rajan Anandan, Kanwal Rekhi too invested in the fund.


IAN fund was founded in 2017 and since then it has been an active angel investor. It has 34 companies in its portfolio, including Druva which recently turned a unicorn. The other startups it funded includes the QSR chain Wow Momo, wedding platform WedMeGood.

The sector agnostic fund primarily invest in AI and machine learning, augmented and virtual reality, biotech, cleantech, fintech, agritech and healthtech.