The Securities and Exchange Board of India has given the angel network Faad Network Pvt. Ltd. permission to launch a Rs 300 crore category-I alternative investment fund (AIF).
Faad will invest money from the most recent angel investment fund in pre-seed through Series A-stage technological startups. Despite being sector-neutral, the company is concentrating on areas including healthtech, agritech, deeptech, and cleantech space.
Over 1,600 angel investors, High Networth Individuals (HNIs), and Venture Capitalists (VCs) from India, Singapore, Dubai, the US, the UK, and Canada make up Faad’s network.
This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.