Hyderabad Angel Fund Launches INR 100 Cr Fund To Back Early Stage Startups

Angel network firm Hyderabad Angels Network (HAN) has launched a category I alternative investment fund (AIF), Hyderabad Angels Fund (HAF), with a target corpus of INR 100 Cr ($11.3 Mn).

The INR 100 Cr corpus includes a INR 50 Cr green-shoe option.

In a statement, HAF said that it has already secured 62% commitments toward its target corpus and is in advanced discussions to raise its first institutional cheque.

With the fund, HAN intends to back early stage businesses across the Indian startup ecosystem. 15–20 startups across sectors like AI, gaming, spacetech, drone tech, healthtech, fintech, among others.

Its typical investments will range from INR 2–4 Cr per company, with reserves for follow-on rounds to support scaling ventures.

In addition to investment, the fund will also offer mentorship to the startup founders.

HAF backs startups at the Pre-Series A to Series B stage, coinvesting alongside VC firms. While Rathnakar Samavedam and Kalyan Sivalenka serve as the fund’s managing partners, ex-ITC executive director Pradeep Dhobale serves as its chairman.

“With this INR 100 Cr fund, we want to identify credible founders across India and help them build companies that are both innovative and sustainable,” Sivalenka said.

The fund’s portfolio currently includes Glynk, Paathshala, Freed, Edutor, Flexmo, among others. On its investment thesis, the VC fund scores a startup based on market scalability, founder track record, innovation, customer access, ecosystem strength, and long-term value creation, before making an investment.

Following a cautious investor sentiment throughout the past year which reflected in the funding interest, investor confidence in early stage Indian startups has picked up so far in this year.