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Hyderabad Angels Ventures Advisory Pvt Ltd has launched the ₹150-crore venture capital fund to fund start-ups that can scale with technology and AI.
The Hyderabad Angels Fund I, a category I Alternative Investment Fund (AIF), comprises an investable corpus of ₹100 crore and an additional greenshoe option of ₹50 crore.
“The fund’s first close has been oversubscribed by more than 200 per cent. This strategic fund is specifically designed to focus on start-ups placing a significant emphasis on scalability through technology and AI,” a top executive of Hyderabad Angels has said.
“We are going to deploy ₹5 crore in 20 disruptive startups that are positioned to scale with technology and AI in Pre-Series A or Series A with a strong commitment to follow-on investments to support future growth.
“This sector agnostic fund would bet on start-ups with sustainable business models and robust monetisation strategies. We will leverage our decade long strong investment experience to manage the fund,” Sri Myneni and Kishore Ganji, Directors of Hyderabad Angels Ventures Advisory Pvt Ltd , said.
The fund’s investors consist of serial entrepreneurs and business leaders from various sectors such as pharma, health sciences, tech and sustainability.
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