The Indian Wire » Startups » Indian Angel Network closes maiden fund round at INR 375 cr
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Indian Angel Network closes maiden fund round at INR 375 cr

Lightbox invests $8 million in customized apparel brand Bombay Shirt Company through series B round

IAN Fund, organised by the Indian Angel Network, has been able to draw around INR 375 crore at the final closing of the fund, reported ET.

The maiden fund of the Indian Angel Network comes after two years of its efforts for its seed-stage vehicle.

“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,” Padmaja Ruparel, founding partner of IAN Fund, said.

While, the IAN Fund had a target of about INR 325 crore, it is backed by other angel investors and entrepreneurs, including former Infosys CEO Kris Gopalakrishnan, industrialist Sunil Munjal and Sequoia Capital MD Rajan Anandan, among others.

IAN said that the startups can raise between ₹25 lakh and ₹25 crore from the IAN platform, which also includes its angel network.

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