Deep tech remains central to the fund’s investment thesis, but the IAN Alpha Fund follows a risk-balanced approach by combining long-gestation innovation ventures with shorter-cycle businesses
| Photo Credit:
Early-stage investment platform IAN Group has announced the final close of its second fund, the IAN Alpha Fund, at $100 million. The fund will back early-stage companies and MSMEs led by strong founders building technology-led solutions, especially those aligned with India’s national strategic priorities.
Deep tech remains central to the fund’s investment thesis, but the IAN Alpha Fund follows a risk-balanced approach by combining long-gestation innovation ventures with shorter-cycle businesses. This structure, the firm said, is designed to offer a strong return profile, while enabling patient capital for frontier technologies that require specialised expertise.
Since launch, the fund has already invested in 10-12 start-ups across AI, space tech, semiconductors, biotech and other emerging sectors. Many of these are first-generation founders based in Tier II and Tier III cities, building indigenous solutions in healthcare, climate, manufacturing, cybersecurity and the environment — areas closely connected to India’s developmental agenda.
The fund has attracted a strong set of marquee backers, including government-linked investors such as DPIIT Fund of Funds for start-ups managed by SIDBI, Self Reliant India Fund, ACE Fund, Odisha Start-up Growth Fund, and the Agri Sure Fund of Funds Scheme managed by Nabventures. Institutional investors, such as Buimerc Corporation (Dubai), HDFC Life, DS Group Family Office, and Nabard, have also participated. A significant portion of the corpus has come from returning investors, signalling trust in IAN’s investment capability and track record.
IAN Group a portfolio of over 250 companies valued at nearly $10 billion across sectors, including defence tech, AI/ML, SaaS, robotics, fintech and consumer tech, and positions mentorship as a core pillar of its model. The fund will continue this founder-first philosophy by offering strategic guidance, governance support and market access alongside capital.
“India’s biggest opportunity is to transform its problems into innovation-driven businesses,” said Saurabh Srivastava, co-founder, IAN Group. Padmaja Ruparel added that the fund aims to back technology innovation “from India, for India and the globe”. Group CEO Chintan Thakkar said IAN’s strength lies in enabling founders to raise between ₹50 lakh and ₹50 crore with hands-on support from industry experts.
The IAN Alpha Fund, the group said, aims to catalyse the next generation of entrepreneurs and strengthen India’s positioning as a global innovation hub.
Published on December 10, 2025
