Hyderabad Angels (HAF) announced the debut of its first venture capital fund, boasting an investable corpus of Rs 100 crore and an additional green-shoe option of Rs 50 crore.
The newly established Category 1 Alternative Investment Fund (AIF) sets its sights on allocating up to Rs 5 crore across 20 disruptive startups poised for rapid expansion through technology and AI advancements, the company confirmed in a press release.
Sri Myneni and Kishore Ganji, Managing Partners of HAF, expressed their vision for HAF as a dynamic, collaboration-driven platform that not only provides financial backing but also facilitates access to the collective wisdom of accomplished limited partners (LPs), who themselves are esteemed entrepreneurs.
The fund boasts an impressive lineup of successful entrepreneurs and business leaders spanning diverse sectors including pharma, health sciences, technology, education, sustainability, and more.
Renowned entrepreneur and founder of Cyient, BVR Mohan Reddy, emphasized the importance of fostering an active engagement platform between limited partners (LPs)/investors and entrepreneurs, citing it as pivotal for the creation of successful businesses.
CEO of T-Hub, Mahankali Srinivas Rao (MSR), expressed optimism regarding HAF’s ability to leverage the potential inherent in the synergy of funds, direct engagement with industry leaders, and the vibrant startup ecosystem flourishing in Hyderabad.