IndiGo Ventures gets SEBI approval to launch venture capital fund to invest in startups

Homegrown low-cost airline IndiGo has announced that IndiGo Ventures, its corporate venture capital fund, has received the Alternative Investment Fund approval from the market regulator Securities and Exchange Board of India (SEBI). 

Aiming to invest in startups

As per the statement, the new fund will invest in startups that have the potential to redefine the future of aviation and beyond, seeking pre-Series A, Series A, and Series B funding.

These include startups working on cutting-edge technologies and solutions within the aviation sector.

It will also look to invest in consumer startups that have a touchpoint in the passenger journey, such as travel, lifestyle, hospitality, transportation, etc.

The Fund has commenced pre-investment activities, including engaging with select startups and their founders.

Launches GoIndiGoVentures.com

The company has also launched GoIndiGoVentures.com as the portal to access further information about the Fund, including its investment thesis, the core valuation proposition for founders and details on governing entities and their membership.

The Fund is expected to start investments by the end of FY 2024-25.

The fund is led by Ankit Sharma, a former Assistant vice president at Axis Bank and Director at Trifecta Capital Advisors, an alternative financing platform.

Sharma has been involved in over 30 startup investments, including companies like Basket, Cars24, Cashify, Ninjacart, CarDekho, and PaperBoat.

Leadership comments

Neetan Chopra, Chief Digital & Information Officer, IndiGo, said, “As IndiGo embarks on this new journey with IndiGo Ventures, we are committed to fostering innovation, giving wings to aspirations, in aviation and beyond. The startups will benefit from IndiGo’s extensive technical expertise and diverse geographical imprint, leading to the development of new products and services.”