With plans to raise funds both domestically and internationally, the Indian Angel Network (IAN) is aiming to raise $38 million.

Co-founder of IAN, Padmaja Ruparel said the network had helped develop an environment in which startups had access to mentorship and markets among other benefits. The funds being raised are for the network’s $70 million IAN Fund I.

“IAN fund is creating India’s single largest horizontal platform for seed and early-stage investment, attracting the best entrepreneurs and best investors for mentoring, and with global market access – all to nurture startups,” Ruparel said.

The network, being one of the largest of its kind internationally, has invested in 130 companies so far and has 470 investors internationally. IAN has invested in 17 different fields so far.

“This is important as entrepreneurs can raise from $30,000 right to up $7-$8 million. All they need to do is to keep performing and building the business,” Ruparel said.

The $70 million IAN Fund I will provide assistance for startups in their second round of funding. The network has already raised $32 million for the fund in the past, according to Ruparel. The Co-founder also mentioned the value of providing mentorship and support for startups in other means besides funding.

“Money are there for the start-ups, but there is a strong need to nurture these young companies,” Ruparel said.

(Picture courtesy: https://www.indianangelnetwork.com/)