IAN Group Closes $100 Mn Fund, Backs Early-Stage Deep Tech Ventures

IAN Group has closed its second venture capital fund, the IAN Alpha Fund, at $100 million. The fund will invest in early-stage companies and MSMEs across India, focusing on founders who use technology to solve well-defined problems. It will also support ventures aligned with national strategic priorities.

The fund will operate with a structured risk-mitigation strategy that balances long-gestation innovation with shorter business cycles. It aims to back companies working in deep tech and related sectors by providing capital and access to mentors.

Padmaja Ruparel, co-founder of IAN Group, said the fund intends to “invest and breed innovation solving real problems or building for India’s strategic imperatives”, adding that its role goes beyond capital by providing “mentoring, market access and governance frameworks”.

The fund has already invested in 10 to 12 startups across Tier-1, 2 and 3 locations. These companies work in AI, space tech, semiconductors, biotech, healthcare, climate, manufacturing, cybersecurity and environment-focused solutions. Many products are being developed as indigenous offerings that align with India’s development agenda.

IAN Group said investors have shown strong confidence in its ability to identify and scale high-potential ventures. Its investor list includes government-linked institutions such as DPIIT’s Fund of Funds for Startups managed by SIDBI, Self-Reliant India Fund, ACE Fund, Odisha Startup Growth Fund and the AgriSURE Fund of Funds managed by Nabventures. Other backers include Buimerc Corporation (Dubai), HDFC Life, DS Group Family Office, NABARD, family offices and individual investors. 

A large share of the corpus came from returning investors. Saurabh Srivastava, co-founder of IAN Group, said, “India’s biggest opportunity is to transform its problems into innovation-driven businesses. While the founder is at the centre of IAN Alpha Fund’s thesis, it is critical that technology is leveraged to scale the solution for a large market.”

CEO Chintan Thakkar added that IAN Group’s platform enables entrepreneurs to raise between ₹50 lakh and ₹50 crore with support from domain experts. He noted that the IAN continues to focus on “improving lives, promoting inclusivity and establishing India as a leader worldwide.”