According to Foresight News, Indian Angel Network (IAN) has announced the completion of a $42 million first-round fundraising for its second fund, the IAN Alpha Fund. Investors in the fund include the Small Industries Development Bank of India (SIDBI), SRI Fund, and IAN Fund I. The fund will focus on investments in areas such as fintech, deep tech, Web3, metaverse, and Industry 4.0.
Previously, Foresight News reported that Indian Angel Network launched a $121 million fund in October 2022, seeking investments in fintech and Web3 sectors.