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Angel Investor (Group)
indianangelnetwork.com

Investments

238

Portfolio Exits

20

Funds

4

Partners & Customers

5

About Indian Angel Network

The Indian Angel Network is a group of successful entrepreneurs and CEOs from India and around the world who invest in start ups/early stage ventures. The network looks at a broad spectrum for investments including: IT products & services, high end BPO / KPO, retail, biotech & pharma, internet, media & entertainment, leading edge technology in telecom & embedded domains.

Headquarters Location

301-302, 3rd floor, Delhi Blue Apartments, Main Ring Road, Near Safdarjung Hospital

New Delhi, 110 029,

India

+9111 40755713

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Latest Indian Angel Network News

Why Indian Angel Network remains bullish on startup investments

Feb 13, 2023

February 13, 2023, Updated on : Mon Feb 13 2023 01:31:32 GMT+0000 Indian Angel Network aims to invest in about 100 startups across sectors with its new Rs 1,000-crore Alpha Fund. +0 Share on The Indian startup ecosystem is in the grip of a funding winter but green shoots are emerging from a few venture funds. The Indian Angel Network (IAN), an early-stage investment platform, remains defiant in the face of macroeconomic headwinds with plans to invest in around 100 startups through its new Rs 1,000-crore fund. Founded in 2006, IAN is among the leading angel investment platforms in the country with a primarily focus on early-stage startups. The platform, which raised a Rs 375-crore venture fund in 2017, has bigger investment ambitions now with its Alpha Fund that it launched in October. While IAN typically invests Rs 1 crore–Rs 3 crore ($120,000–$350,000) in a startup, it is looking to sign larger cheques from its Alpha Fund, typically in the range of $1 million to $5 million. ALSO READ Investing in the early stage According to a PwC India report titled ‘Startup Deals Tracker - CY22’, total funding last year dropped 33% to $24 billion. In both 2021 and 2022, early-stage deals accounted for 60%–62% of the total funding (in volume terms). The category remained a favourite among investors as early-stage deals contributed about 12% in terms of value to the total funding in 2022, compared with 7% in the previous year. IAN expects to make the first close of the Alpha Fund at around Rs 350 crore by the end of March, and has already received considerable interest from investors within and outside the country. The majority of the investment will be made through its angel network—comprising domain experts, CXOs, and entrepreneurs—which IAN believes is its strong point. Learning from the past IAN gained a few learnings from its first venture fund where it could not participate in the follow-on funding rounds of startups that raised capital from other sources. Vinod Keni, Managing Partner, Indian Angel Network Alpha Fund “When you don't participate (in follow-on funding), one sort of ends up with such minority equity positions that you're not able to really make any meaningful contribution. That's a big learning from fund one,” says Vinod Keni, Managing Partner at Indian Angel Network Alpha Fund, in an interaction with YourStory. IAN is an early investor in startups including Uniphore and Wow! Momo, which raised larger follow-on funding extending up to the Series D round. While Uniphore secured $400 million in 2022, Wow! Momo landed $15 million from a new set of investors sans participation from IAN. The Alpha Fund will be sector agnostic even though Vinod says some segments like cleantech, climate tech, healthtech, agritech, and industry 4.0 are gaining higher traction. Investment strategy For the new venture fund, IAN has categorised its investments into three buckets: The first bucket will comprise a third of the fund that will be used for follow-on investments for meaningful equity positions in portfolio startups. The second will involve co-investing along with its angel network, which gives IAN early access to potential winners. The third bucket will focus on co-investing with other external investors, going beyond its current portfolio of startups. Vinod expects the Alpha Fund to make the final close of Rs 1,000 crore in 12 to 18 months. It has garnered interest primarily from family offices and wealthy individuals residing abroad as well as in India, including from beyond the metro cities. While the funding environment has undergone a shift, IAN does not want to get carried away by any investment trends and will continue with its existing investment philosophy of parking money in sustainable businesses. “The basic premise of venture investing is to actually look for good founders, strong teams, and the ability to execute disruptive ideas,” says Vinod. The first fund’s internal rate of return (IRR) is about 50%, and two-thirds of its portfolio startups have gone on to raise their next round of capital. VCs use the IRR metric to estimate the profitability of potential investments. The investment platform also boasts 50% proprietary startup investments, i.e. companies seeking capital from the investment platform first. Vinod credits this to IAN’s network effect, bringing more functionality than just the capital through individuals who enable access to markets, resources, and mentorship to startups as well as founders. IAN also boasts domain experts on its platform to help startups in its portfolio to scale. It also has an investment committee and advisory board to focus on the governance of investments. While the funding winter may have slowed activity in the ecosystem, Vinod believes that irrespective of the low capital inflow, there are still opportunities to invest in technology-led innovative startups in India. “I think good quality startups and entrepreneurs will still be able to attract resources, including capital,” he says. Edited by Kanishk Singh

Indian Angel Network Investments

238 Investments

Indian Angel Network has made 238 investments. Their latest investment was in AuraML as part of their Angel on May 5, 2023.

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Indian Angel Network Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/5/2023

Angel

AuraML

$0.23M

Yes

1

4/10/2023

Series A

Stylework

$2M

Yes

5

3/3/2023

Seed VC

Pidge

$3M

No

3

2/22/2023

Pre-Seed

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$99M

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10

2/8/2023

Series B

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$99M

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10

Date

5/5/2023

4/10/2023

3/3/2023

2/22/2023

2/8/2023

Round

Angel

Series A

Seed VC

Pre-Seed

Series B

Company

AuraML

Stylework

Pidge

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Amount

$0.23M

$2M

$3M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

1

5

3

10

10

Indian Angel Network Portfolio Exits

20 Portfolio Exits

Indian Angel Network has 20 portfolio exits. Their latest portfolio exit was Coolberg on November 28, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/28/2022

Acquired

$99M

5

11/15/2022

Acquired

$99M

4

8/5/2022

Acquired

$99M

3

7/8/2022

Acquired

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$99M

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10

4/25/2022

Acquired

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$99M

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10

Date

11/28/2022

11/15/2022

8/5/2022

7/8/2022

4/25/2022

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

5

4

3

10

10

Indian Angel Network Fund History

4 Fund Histories

Indian Angel Network has 4 funds, including IAN Alpha Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/20/2022

IAN Alpha Fund

$121.15M

1

11/6/2019

IAN Fund-I

$99M

10

6/2/2017

IAN Early Stage Fund

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$99M

10

IAN Fund 2017

0

Closing Date

10/20/2022

11/6/2019

6/2/2017

Fund

IAN Alpha Fund

IAN Fund-I

IAN Early Stage Fund

IAN Fund 2017

Fund Type

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Status

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Amount

$121.15M

$99M

$99M

Sources

1

10

10

0

Indian Angel Network Partners & Customers

5 Partners and customers

Indian Angel Network has 5 strategic partners and customers. Indian Angel Network recently partnered with Caspian Impact Investments on January 1, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

1/13/2020

Partner

India

IAN, Caspian Debt partner to support early and growth stage innovation

Our partnership with Caspian Impact Investments is a step in this direction , '' Padmaja Ruparel , co-founder , IAN Fund , said .

1

12/7/2017

Partner

India

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10

8/8/2017

Partner

India

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10

10/19/2016

Partner

United States

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10

6/4/2014

Partner

India, and Germany

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10

Date

1/13/2020

12/7/2017

8/8/2017

10/19/2016

6/4/2014

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Country

India

India

India

United States

India, and Germany

News Snippet

IAN, Caspian Debt partner to support early and growth stage innovation

Our partnership with Caspian Impact Investments is a step in this direction , '' Padmaja Ruparel , co-founder , IAN Fund , said .

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Sources

1

10

10

10

10

Indian Angel Network Team

4 Team Members

Indian Angel Network has 4 team members, including current President, Padmaja Ruparel.

Name

Work History

Title

Status

Padmaja Ruparel

President

Current

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Name

Padmaja Ruparel

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Work History

Title

President

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Status

Current

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