Early-stage investor network FAAD has received SEBI approval for a Category 1 Rs 300-crore alternative investment fund (AIF).
The network aims to invest across sectors, in early-stage pre-seed to Series A technology companies. FAAD is keen to focus on the healthtech, agritech, deeptech, and cleantech spaces.
Angel network FAAD, which was launched in 2019, has invested over Rs 75 crore in more than 60 startups across the technology sector, with a minimum cheque size of $50,000 to $1 million. Its portfolio companies include Blu Smart, Battery Smart, Hesa, WCube, Cleardekho, Huviair, and Beyond Snacks.
FAAD was co-founded by Karan Verma (Director) and Dr Dinesh Singh (Director). Aditya Arora joined FAAD in 2018 as its CEO.
Karan said, “We are gearing to launch the AIF and see it as a strong force that will fuel young startups with combined energies, support and capital from our growing network of investors.”
Dinesh said, “The reason why early-stage ideas continue to receive capital and network support is that over time the quality of innovation and the business acumen of new entrepreneurs has evolved which instills a lot of confidence among angels, HNIs and VCs to not shy away from early bets.”
FAAD recently obtained SEBI (Securities and Exchange Board of India) licence to launch the AIF. The network was advised on the AIF set-up by Rajat Nandwani and Sidharth Dugar, representing Accountables; Manick Wadhwa, Director, SKI Capital; and Akshit Goyal, Partner, JKGA Law.
The network brings a screening mechanism for investors looking at making early bets in technology companies, offers an investor syndicate on deals to share risks, improves portfolio diversification, and provides access to deals. Its community of investors comprises over 1,600 angels, high net worth individuals, and venture capitalists across India, Singapore, Dubai, the US, the UK and Canada.
Some of the notable co-investors in FAAD’s portfolio companies are Tiger Global, Blume Ventures, 9Unicorns, Chiratae Ventures, Orios Venture Partners, and Pentathlon Ventures.