Indian Angel Network (IAN), an early-stage venture capital firm, has invested $10 million (around Rs 85 crore) in 52 companies this year.

Launched in 2006, the fund has invested Rs 900 crore in more than 200 companies to date and backed startups in software-as-a-service (SaaS), fintech and direct-to-consumer (D2C) sectors, amongst others, in their early-stage funding rounds with an average investment amount of Rs 25 lakh to Rs 50 crore.

Indian Angel Network | Money, Mentoring & Market Access

Indian Angel Network is a sector-agnostic network and has funded startups across 19 sectors in India and 7 other countries. It has invested in 11 women-led ventures and 13 startups from Tier-II and III cities in 2022. Currently, Indian Angel Network has assets under management (AUM) of around $9 billion.

The early-stage venture capital firm has close to 500 members across the world, across 12 countries as part of its network, and has a presence across geographies.

Speaking about IAN’s performance in 2022, Padmaja Ruparel, co-founder of IAN, said,

“With the growth curve IAN has had, it plans on supporting 500 startups, investing Rs 5,000 crore, and creating 500,000 jobs by 2030.” 

In November, IAN invested in Edmingle, a SaaS platform for small and medium-sized training and coaching businesses. And a month prior to that the fund led the seed funding round of Mumbai-based pizza chain Cheelizza raising Rs. 4.11 crore. IAN was also involved in the seed round of EV startup Electrifuel in August 2022. 

Because of the funding winter in 2022, until the end of November, Venture capital investments by size fell about 34% to $23.2 billion from $35.4 billion in the same period the previous year. This year, VC firm Sequoia Capital led venture capital investments in India, completing 71 deals as of November. Accel became the second most active VC firm in India, investing in 54 startups in India.

Also, Bharat Founders Fund, a VC fund floated by a group of over 70 Indian entrepreneurs, invested $4.5 million in over 45 early-stage startups so far in 2022.

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