Local low cost airline Indigo has announced that IndiGo Ventures, its corporate venture capital fund, has received Alternative Investment Fund approval from market regulator Securities and Exchange Board of India (SEBI).
With the aim of investing in startups
According to the statement, the new fund will invest in new companies that have the potential to redefine the future of aviation and beyond, seeking pre-Series A, Series A and Series B financing.
These include startups working on cutting-edge technologies and solutions within the aviation sector.
It will also look to invest in new consumer companies that have a touchpoint in the passenger journey, such as travel, lifestyle, hospitality, transportation, etc.
The Fund has initiated pre-investment activities, including collaboration with selected startups and their founders.
Launches GoIndiGoVentures.com
The company also launched GoIndiGoVentures.com as a portal to access more information about the Fund, including its investment thesis, core valuation proposition for the founders and details on the governing entities and their membership.
The Fund is expected to begin investing at the end of fiscal year 2024-25.
The fund is led by Ankit Sharma, former joint vice-president of Axis Bank and director of Trifecta Capital Advisors, an alternative financing platform.
Sharma has been involved in over 30 seed investments, including companies such as Basket, Cars24, Cashify, Ninjacart, CarDekho and PaperBoat.
Leadership Comments
Neetan Chopra, Chief Information and Digital Officer, IndiGo, said: “As IndiGo embarks on this new journey with IndiGo Ventures, we are committed to fostering innovation and giving wings to aspirations, in aviation and beyond. “The startups will benefit from IndiGo’s extensive technical expertise and diverse geographical footprint, leading to the development of new products and services.”
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