Investor network FAAD gets Sebi nod to launch Rs 300 cr fund
While the funding winter has struck growth stage capital, FAAD said the early-stage startup investment scenario continues to look upbeat.
Early-stage investor network FAAD on Monday said it has received Sebi's approval to launch a Rs 300 crore alternative investment fund (AIF).
The network will build the war chest in the coming months to invest across sectors in early-stage startups with special focus on healthtech, agritech, deep tech, and cleantech space, FAAD said in a statement.
"FAAD has received the approval of SEBI for a Category 1 INR 300 cr Alternative Investment Fund," the statement said.
The angel network by FAAD was launched in 2019 which has invested over Rs 75 crore in over 60 startups across a multitude of technology sectors, with a minimum cheque size of USD 50,000 to USD 1 million.
Some of the portfolio companies include Blu Smart, Battery Smart, Hesa, WCube, Cleardekho, Huviair, and Beyond Snacks, among others.
While the funding winter has struck growth stage capital, FAAD said the early-stage startup investment scenario continues to look upbeat.
There is a new wave of Angels, HNIs and VCs who believe deeply in the value addition that technology-led innovation can bring to society and are always on the lookout to back entrepreneurs who can lead the disruption, FAAD Co-founder and Director Karan Verma said.
"While a lot has been said about the funding winter in the startup ecosystem, when it comes to early-stage companies, the enthusiasm for capital support continues to be on the rise," he added.
FAAD claims to have over 1,600 Angels, High Networth Individuals (HNIs) and Venture Capitalists (VCs) across India, Singapore, Dubai, the US, UK and Canada in its community of investors.
Click here to get more updates on Stock markets I Zee Business Live
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Tamil Nadu Weather Alert: Chennai may receive heavy rains; IMD issues yellow & orange alerts in these districts
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
SIP+SWP: Rs 10,000 monthly SIP for 20 years, Rs 25 lakh lump sum investment, then Rs 2.15 lakh monthly income for 25 years; see expert calculations
Top 7 Mutual Funds With Highest Returns in 10 Years: Rs 10 lakh investment in No 1 scheme has turned into Rs 79,46,160 in 10 years
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
12:53 PM IST