IAN Group Closes $100 Million Alpha Fund to Back Early-Stage Tech and MSMEs
A mix of government-linked and institutional LPs anchors the SEBI Category-II vehicle slated to deploy its full corpus by 2027.
Overview
- The final close pegs the corpus at about INR 900 crore, with an authorized spokesperson saying roughly 35% is already deployed and full deployment targeted by November 2027.
- Limited partners include DPIIT’s Fund of Funds for Startups managed by SIDBI, Self-Reliant India Fund, ACE Fund, Odisha Startup Growth Fund, and Nabventures’ Agri Sure FoF, alongside Buimerc Corporation, HDFC Life, DS Group Family Office, and NABARD.
- The fund will invest in early-stage startups and MSMEs solving real-world, priority problems through technology, with typical checks ranging from $1 million to $5 million.
- IAN Alpha’s thesis balances patient deeptech bets with shorter-cycle, revenue-focused businesses, complemented by mentorship, market access, and governance support.
- Since launch, the fund has backed 10–12 startups including EndureAir, BrainSightAI, and Noccarc, with several led by first-time founders from Tier II and Tier III Indian cities.