Yatra Angel Network (YAN) Angel Fund, an early-stage fintech-focused fund, has received approval from the Securities and Exchange Board of India (SEBI) to launch its Rs 90 crore early-stage fintech-focused Alternative Investment Fund (AIF).
YAN plans to invest in 25-30 fintech start-ups over the next three years by participating at the seed stage with an average cheque size of Rs 1.5 cr to Rs 3.5 cr
Pankaj Singh, Partner, YAN Angel Fund, said, “We are grateful to all our LPs, institutional partners who have placed trust in us. We work along the entire fintech value chain, and India holds great potential in fintech as the country remains underpenetrated in the distribution and inclusion of financial services.”
Abhishant Pant, General Partner, Yatra Angel Network (YAN) Angel Fund, said, “We aim to catalyse the journey of fintech startups by bringing subject matter expertise and network access to allow startups to grow to their full capabilities.”
LPs in the YAN Fund include experienced banking, financial services and insurance (BFSI) professionals and senior fintech startup founders. LPs use, deploy and track their investments via Connexdoor, a front-end platform of YAN Angel Fund.
YAN (via Fintech Yatra) had previously invested in startups like M2P Fintech, OneCard, Tartan, DataSutram, PayGlocal, ShopSe, and Riskcovry, among others.
In the past couple of months, around a dozen venture capital and debt firms have announced their new fund. The list counts Chiratae Ventures, Fundamentum, Stride Ventures, Merak Ventures, Cactus Ventures, Elev8 Venture Partners, StartupXseed, Blacksoil, Kettleborough VC, Fireside, Avatar Ventures, Alteria Capital and IAN. According to an Marketmoney report, over 90 VCs, PE, and debt funds had announced their new fund launch as of July this year
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