Officially launching its first Venture Capital Fund, Hyderabad Angels Fund (HAF) has opened a fund worth INR 150 crore to finance artificial intelligence (AI) startups. As a Category 1 Alternative Investment Fund (AIF), HAF has an initial investable capital of INR 100 crore, with an additional INR 50 crore greenshoe option. This strategic fund aims to support companies that prioritize scalability through the use of AI and technology.
With a strong commitment to follow-on investments, HAF plans to allocate up to INR 5 crore across 20 disruptive firms in pre-series A or series A stages, which are well-positioned to leverage technology and AI for substantial growth.
According to Sri Myneni and Kishore Ganji, managing partners at HAF, We are building HAF as a dynamic, collaboration-driven platform where founders not only secure financial backing but also tap into the collective wisdom of accomplished Limited Partners (LPs) who themselves are successful entrepreneurs. They believe that innovation has the power to change the world and are leveraging their experience as angel investors and business owners to support promising AI startups.
As HAF targets startups harnessing the potential of AI and technology, it aims to facilitate their growth by providing both capital and access to experienced mentors. The fund’s strategic approach intends to empower startups to scale their operations and revolutionize various industries through disruptive innovation.
HAF’s initiative aligns with the growing demand for AI solutions in a wide range of sectors, including healthcare, finance, lifestyle, and more. AI-powered technologies have the potential to drive efficiency, enhance decision-making, and transform traditional business practices. By concentrating on firms with AI capabilities, HAF aims to fuel their expansion and empower them to make a significant impact.
The fund’s announcement comes at a time when AI adoption is gaining momentum worldwide, with increased interest from businesses and investors. AI continues to evolve and demonstrate its ability to revolutionize industries, making it an attractive field for startups and venture capital firms alike.
Through its investments, HAF aims to not only provide financial support but also foster a collaborative ecosystem that enables founders to leverage the expertise of successful entrepreneurs and LPs associated with the fund. This approach sets HAF apart as it strives to offer more than just capital and mentorship, providing a unique platform for knowledge-sharing and collective growth.
As HAF opens its doors to AI startups, it serves as a significant boost for the ecosystem, demonstrating the confidence and belief in the potential of these ventures. With its substantial fund and commitment to future growth through follow-on investments, HAF is well-positioned to support and nurture the next generation of AI-powered startups in India.
Overall, the launch of Hyderabad Angels Fund (HAF) and its INR 150 crore fund for AI startups marks a significant milestone in the investment landscape. Through its focus on scalability, technology, and AI, HAF aims to catalyze the growth and success of innovative startups, thereby contributing to the advancement of the AI ecosystem in India and beyond.
