Indian Angel Network (IAN): Complete Guide to India's Premier Angel Investor Network
Indian Angel Network (IAN) is India's largest and most active angel investor network, having invested in over 200 startups since its inception in 2006. With a network of over 500 investors, IAN has been instrumental in building India's startup ecosystem.
About Indian Angel Network (IAN)
What is IAN? Indian Angel Network is a network of angel investors that provides seed and early-stage funding to startups. Founded in 2006, IAN has become one of the most prominent angel investor groups in India, with members including successful entrepreneurs, CXOs, and business leaders.
Key Features: - Network Size: Over 500 angel investors - Investments: 200+ startups funded - Investment Range: ₹25 lakhs to ₹5 crores (typically ₹50 lakhs to ₹2 crores) - Focus: Early-stage startups across sectors - Geographic Focus: India and select international markets
IAN Structure: - IAN Fund: Institutional fund for larger investments - IAN Members: Individual angel investors - IAN Incubator: Incubation support for early-stage startups - IAN Edge: Growth-stage investment program
Portfolio Companies and Success Stories
IAN has backed numerous successful startups:
Notable Portfolio Companies: - MobiKwik: Digital wallet and payments (achieved unicorn status) - Wow! Momo: Quick service restaurant chain - Stayzilla: Online accommodation booking (acquired) - Uniphore: Conversational AI platform - GreyOrange: Robotics and automation - Razorpay: Payment gateway (now unicorn) - BharatPe: Merchant payment solutions (now unicorn) - Meesho: Social commerce platform (now unicorn) - Zomato: Food delivery platform (now public) - Ola: Ride-hailing platform (now unicorn)
Success Metrics: - Over 200 portfolio companies - Multiple unicorns and exits - Strong follow-on funding rates - High survival and growth rates - ₹1,000+ crores in investments
How IAN Evaluates Startups
1. Team Quality (40% Weight) - Founder background and experience - Complementary skill sets - Execution capability - Ability to attract talent - Founder-market fit
2. Market Opportunity (30% Weight) - Large addressable market - Growing market trends - Clear customer need - Market timing - Scalability potential
3. Product/Technology (20% Weight) - Innovative solution - Technical differentiation - Product-market fit indicators - Scalable technology - Competitive advantage
4. Business Model (10% Weight) - Clear revenue model - Unit economics - Path to profitability - Customer acquisition strategy - Defensibility
Evaluation Process: 1. Application Submission: Startups submit application 2. Initial Screening: IAN team reviews applications 3. Pitch to Screening Committee: Shortlisted startups pitch 4. Due Diligence: Detailed review and validation 5. Pitch to IAN Members: Selected startups pitch to investors 6. Investment Decision: Interested investors commit funds
How to Prepare for IAN Funding
1. Build a Strong Team - Assemble complementary founders - Show relevant experience - Demonstrate execution capability - Highlight unique skills
2. Validate Your Idea - Talk to potential customers - Build an MVP - Get early users or customers - Show product-market fit signals
3. Show Traction - Early revenue or users - Customer testimonials - Growth metrics - Market validation
4. Understand Your Market - Market size and growth - Customer pain points - Competitive landscape - Your differentiation
5. Craft Your Pitch - Clear problem statement - Compelling solution - Strong value proposition - Business model - Financial projections
6. Prepare Your Documents - Pitch deck (10-15 slides) - Executive summary - Financial projections - Team bios - Market research
Application Process
Step 1: Application Submission - Submit application on IAN website - Include pitch deck and executive summary - Provide team and company information - Share traction and metrics
Step 2: Initial Screening - IAN team reviews applications - Shortlisted startups contacted - Typically 5-10% move to next stage
Step 3: Screening Committee Pitch - Pitch to IAN screening committee - 10-15 minute presentation - Q&A session - Feedback and evaluation
Step 4: Due Diligence - Detailed review of business - Customer and market validation - Team background checks - Financial and legal review
Step 5: IAN Members Pitch - Pitch to interested IAN members - Multiple investor meetings - Negotiate terms - Secure commitments
Step 6: Investment Closure - Finalize investment terms - Complete legal documentation - Receive funding - Begin investor relationship
Benefits of IAN Investment
1. Funding - Seed and early-stage capital - Fair valuation and terms - Access to follow-on funding - Network of investors
2. Mentorship - Access to 500+ experienced investors - Industry expertise - Strategic guidance - Operational support
3. Network Access - IAN investor network - Connections to customers - Introductions to partners - Access to follow-on investors
4. Credibility - IAN brand association - Validation from investors - Easier to attract talent - Better for partnerships
5. Resources - Legal and accounting support - HR and recruitment help - Marketing and PR support - Access to service providers
IAN Investment Terms
Typical Terms: - Investment Amount: ₹50 lakhs to ₹2 crores - Equity: 5-15% (depending on valuation) - Valuation: Based on traction and market - Structure: Convertible notes or equity - Board Seat: Usually observer or board seat
Investor Rights: - Information rights - Pro-rata rights for follow-on - Liquidation preferences - Anti-dilution protection
Key Success Factors
1. Strong Team - Experienced founders - Complementary skills - Execution capability - Ability to attract talent
2. Market Validation - Real customer demand - Early traction - Product-market fit signals - Growing market
3. Clear Value Proposition - Solves real problem - Clear differentiation - Strong business model - Scalable opportunity
4. Coachability - Willingness to learn - Open to feedback - Quick iteration - Growth mindset
5. Network Fit - Alignment with IAN focus - Fit with investor expertise - Willingness to engage - Long-term partnership
Common Mistakes to Avoid
1. Unrealistic Valuation - Don't overvalue your startup - Be realistic about stage - Consider market benchmarks - Focus on growth over valuation
2. Weak Pitch - Must have clear story - Show traction and metrics - Demonstrate market opportunity - Present strong team
3. Incomplete Preparation - Prepare all documents - Know your numbers - Understand your market - Be ready for questions
4. Not Engaging Investors - Build relationships - Respond to feedback - Show coachability - Demonstrate commitment
5. Poor Timing - Don't raise too early - Need some validation - Show traction - Right market timing
Tips for Success
1. Start Early - Begin preparation months ahead - Build traction and team - Validate your idea - Network with IAN members
2. Get Feedback - Share pitch with advisors - Get input from IAN alumni - Iterate based on feedback - Practice your pitch
3. Be Authentic - Be honest about challenges - Show real progress - Don't oversell - Demonstrate learning
4. Network - Connect with IAN members - Attend IAN events - Build relationships - Get warm introductions
5. Focus on Fundamentals - Solve real problem - Build great product - Find product-market fit - Execute relentlessly
IAN Incubator Program
About IAN Incubator: - Early-stage incubation support - Pre-seed and seed funding - Mentorship and resources - Access to IAN network
Benefits: - Funding support - Mentorship from IAN members - Office space and resources - Network access
Eligibility: - Very early-stage startups - Strong founding team - Innovative idea - Large market opportunity
IAN Edge Program
About IAN Edge: - Growth-stage investment program - Larger investment amounts - Strategic support - Access to IAN network
Focus: - Scaling startups - Growth capital - Strategic guidance - Market expansion
What Happens After IAN Investment
1. Investor Relationship - Regular updates and meetings - Strategic guidance - Operational support - Network introductions
2. Follow-on Funding - Access to IAN network for next round - Introductions to other investors - Support in fundraising - Pro-rata participation
3. Growth Support - Mentorship and guidance - Strategic advice - Operational help - Network leverage
4. Exit Opportunities - Support in exit process - Introductions to acquirers - Strategic guidance - Network connections
IAN vs Other Investors
IAN Advantages: - Large network of investors - Extensive experience - Strong brand - Comprehensive support - Long-term partnership
Considerations: - Multiple investors to manage - Need to align with network - Must engage actively - Requires transparency
Conclusion
Indian Angel Network represents one of the best opportunities for early-stage startups in India to secure funding and access a network of experienced investors. With over 500 investors and 200+ portfolio companies, IAN has a proven track record of supporting startups from seed to scale.
However, securing IAN investment requires a strong team, validated product, clear market opportunity, and demonstrated traction. The process is competitive, but for startups that get funded, IAN provides not just capital but mentorship, network, and long-term support.
For entrepreneurs considering IAN, focus on building a strong foundation—assemble a great team, validate your product with real customers, show early traction, and craft a compelling pitch. Success with IAN comes from building relationships, being coachable, and executing relentlessly on your vision.
At Janteera Ventures, we understand the value of angel investors and early-stage funding. Whether you're preparing for IAN or building independently, focus on fundamentals: solving real problems, building great products, finding product-market fit, and executing consistently. Success comes from learning, iterating, and building something customers truly value.