Yatra Angel Network has received approval from the Securities and Exchange Board of India (SEBI) to launch its INR 90 Cr early-stage fintech-focused Alternative Investment Fund (AIF).
According to Yatra Angel Network, the approved Category-I AIF will primarily invest in 25-30 early-stage fintech startups. The firm would participate in seed stage funding rounds with the fund over the next three years, with an average cheque size of INR 1.5 Cr to INR 3.5 Cr.
The fund currently has over 150 angel investors, including experienced banking, financial services, and insurance (BFSI) professionals and founders of fintech startups.
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