Seed and early-stage investment platform Indian Angel Network (IAN) said on October 20 that it launched IAN Alpha Fund, a SEBI-registered secondary venture capital fund valued at Rs 1,000 crore. IAN said the new fund is the second in its series.

In a statement, IAN said the new fund is looking to invest in clean tech and the environment, health tech, ag tech, education tech, fintech, and emerging industries such as Industry 4.0, space tech, cyber three and robotics. Along with co-investors, the checks will be between $1 and $5 million, the fund said.

IAN was founded in 2006 by Padmaja Ruparel, Raman Roy and Saurabh Srivastava to help invest private wealth in nurturing and growing startups in the country. The network says its portfolio contains high-value startups, including unicorns, soonicorns and more than 200 others.

IAN said the newly established IAN Alpha Fund would invest in startups with high-quality founders, solve problems for a large client base, and leverage technology and models to scale rapidly.

The fund said Kris Gopalakrishnan, co-founder and industry expert of Infosys; Sunil Munjal, chairman and managing director (MD) of Hero Mindmine & Hero Corporate Services; and CP Gurnani, MD and CEO of Tech Mahindra, are on its advisory board.

IAN said IAN Alpha Fund’s investment committee includes Srivastava, co-founder of IAN, who is also chairman of NASSCOM and IVCA, Ajai Chowdhry, founder of HCL, and Pravin Rao, chief operating officer, who recently retired from Infosys.