New Delhi: Delhi-based angel investors group Indian Angel Network (IAN) on Friday named former Cisco Systems Inc. director Pratik Bose as managing partner of its recently announced IAN Fund.
With a corpus of Rs350 crore, the IAN Fund will invest in early-stage firms engaged in sectors such as software as a service, financial technology, Big Data, artificial intelligence and hardware.
The fund announced its first close at Rs175 crore in April this year.
Bose will lead the investments for the fund, which will also co-invest with other funds from the network.
A management graduate from New York University’s Stern School of Business, Bose oversaw investments in Asia- Pacific for Cisco between 2007 and 2017, based out of Singapore.
He has previously worked with Eka Systems, a US-based maker of electricity management devices; remote access applications firm Altiga Networks (acquired by Cisco); and Comsat Labs (acquired by Lockheed Martin Corp.) in the US.
“I am excited to be part of the IAN Fund and grow the best in class seed/early stage investor. This fund is exactly what the ecosystem needs as this will bring a paradigm shift for startups,” Bose said in a statement.
IAN co-founder Saurabh Srivastava, Quatrro Global Services Pvt. Ltd chairman Raman Roy and Ajai Chowdhry, a founding member of HCL group, will be part of the investment committee at the fund.
IAN Fund will work out of the network’s office in Delhi.
Established in 2006 by Srivastava and Padmaja Ruparel, IAN is among the largest angel networks in Asia with 479 independent entrepreneurs and investors, and seven institutions as its members, according to its website.
The network has facilitated over 50 investment deals in start-ups so far.