Hyderabad Angels has announced the launch of its maiden venture capital fund, amounting to a substantial INR 150 Crore. This pioneering initiative is poised to inject vital capital into early-stage startups, particularly those harnessing the power of artificial intelligence (AI) to drive innovation and growth.
The Hyderabad Angels Fund (HAF), unveiled as a category I alternative investment fund (AIF), boasts an initial investable corpus of INR 100 Crore, supplemented by an additional greenshoe option of INR 50 Crore, according to an official statement released on Monday, February 12.
Designed to cater to startups at the Pre-Series A or Series A funding stages, HAF aims to deploy up to INR 5 Crore across 20 promising ventures, with a steadfast commitment to providing follow-on investments as these startups mature and scale. The fund’s strategic focus on technology and AI underscores its mission to support ventures poised for exponential growth and disruption.
Speaking on the strategic vision driving HAF, co-founders Sri Myneni and Kishore Ganji emphasized the platform’s role as a dynamic and collaboration-driven ecosystem. They envision HAF not only as a source of crucial financial backing but also as a conduit for tapping into the collective wisdom of accomplished entrepreneurs, thereby fostering rapid scalability and innovation.
The launch of Hyderabad Angels’ maiden fund comes amidst a flurry of activity in India’s startup investment landscape. Just days prior, financing platform GetVantage introduced its SaaS Accelerator Fund II, while the Karnataka government unveiled a dedicated venture capital fund targeting startups in the animation, visual effects, gaming, and comics (AVGC) sectors.
With the Indian startup ecosystem poised for exponential growth, evidenced by projections from Inc42’s India’s Startup Investor Landscape Report 2023, which anticipates the number of venture capitalists to exceed 2,700 by 2025 and reach 5,000 by 2030, initiatives like HAF signal a growing confidence among investors in the country’s entrepreneurial potential.
As Hyderabad Angels embarks on this landmark initiative, it underscores not only the vibrancy of India’s startup ecosystem but also the pivotal role played by strategic investors in fueling innovation, driving economic growth, and positioning India as a global hub for entrepreneurial excellence.
