Global angel network firm Agility Ventures has launched an INR 450 Cr ($60 Mn) angel fund after receiving approval from the Securities and Exchange Board of India’s (SEBI).
Agility Ventures is looking to deploy the entire corpus of the fund in the next four years by investing more than INR 75 Cr across 50 startups each year.
The Agility Ventures network typically invests in startups in the fields of education, technology, healthcare, ecommerce, automobiles, electric vehicles, robotics, agritech and manufacturing among others.
The network currently has over 1500 angel investors as members and is looking at increasing this number to 4000 by the end of the year. Apart from its current interest areas, it will also be looking to invest in fintech, cybersecurity and crypto startups.
“After launching Fluid Ventures (a D2C focused VC fund) last year, this is exactly the kind of fuel needed to roll-out our plans for 2022. After having invested in five companies through Fluid Ventures, ambitious about deploying INR 75 crore this year through Agility Ventures angel fund,” said Dhianu Das, cofounder of Agility Ventures.
According to Inc42 analysis, about $6.2 Bn had been raised by 62 funds across categories (VC, Debt, CVC, Micro VCs) to back the rising Indian startup economy last year. Of these 62 funds, nine are Corporate Venture Capital funds (or CVCs) and 12 are Micro VCs.
“The interesting thing about raising the kind of angel fund that has been approved by SEBI is that it is sector-agnostic and does not limit itself to co-investments. This model also simplifies the financing process without changing the core style of the angel network. In fact, it adds to the pre-existing angel investor’s style of financing,” said Prashant Narang, cofounder of Agility Ventures.
To know more about the recently launched funds in India, we have put together a complete list and breakdown of all the new funds being introduced over the last year which you can find here.