SKI Capital has assisted an early-stage investor network FAAD which received the approval of SEBI for a Category 1 INR 300 CR. Alternative Investment Fund (AIF). The network, which is sector agnostic, will build the warchest over the coming months to invest across sectors in early-stage pre-seed to Series A technology companies.
The FAAD Angel Network was launched in 2019 which primarily focuses on Health-tech,Agri-tech, Clean-tech and Deep-tech space. Some of the portfolio companies include Blu Smart, Battery Smart, Hesa, WCube, Cleardekho, Huviair, Beyond Snacks among others.
“FAAD is doing an incredible job in bridging the demand and the supply side for seed capital. It was their professionalism that enabled us to receive SEBI’s nod to launch the AIF in about six weeks from the date of filing the application. Having a pooling vehicle in the form an AIF is not just beneficial for the investors, as the same provides a tax pass-through status to them, but also for the start-ups that are raising the capital as this makes it easier to manage the cap-table. The launch of FAAD’s AIF, in a period otherwise considered as ”funding winter,” is certainly exciting news for the start-up community,” said Manick Wadhwa, Director of Strategy at SKI.
“We sincerely appreciate the constant efforts of SKI Capital during this AIF approval. In recent years we all have seen a new wave of Angels, HNIs and VCs who believe deeply in the value addition that technology led innovation can bring to society and are always on the lookout to back entrepreneurs who can lead the disruption. While a lot has been said about the funding winter in the startup ecosystem, when it comes to early stage companies, the enthusiasm for capital support continues to be on the rise.The FAAD network also draws well-meaning investors who want to assist and support startups beyond just funding. We are gearing to launch the AIF and see it as a strong force that will fuel young startups with the combined energies, support and capital from our growing network of investors,” said FAAD Co-founder and Director Karan Verma.
SKI caters to a wide group of clients, from individuals to institutions to corporate clients, for their diverse financial services requirements. . With 50+ locations across the country, the company provides tailor-made solutions to complex challenges of its clients.
Some of the notable clients include “AMP Capital, Brookfield Asset Management, Aroa Ventures, Guild Capital, IndiGrid, Grip Invest, Jiraaf, and Patanjali Group.”
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