PremiumMarket regulator Sebi has granted approval to angel network Zero To One for setting up a Category-1 Alternative Investment Fund to the tune of ₹300 crore which will be infused into startups.
In a statement, Zero To One founder and Director Praveen Kaushik said, "We believe the AIF would not only fund the young startups but also fuel them with the synergy, support, and mentorship from the ecosystem we have created", as reported by PTI.
Kaushik revealed that the idea behind founding Zero To One was not only to fund startups but also to create an ecosystem that is capable of assisting and supporting startups to achieve new heights.
Through the category-1 AIF, the angel network plans to invest across sectors in early-stage technology companies, with a key focus in edtech, health tech, agritech, medtech, and cleantech spaces.
Under its ambit, Zero To One has a community of early-stage investors comprising over 500 Angels, High Networth Individuals (HNIs), and Venture Capitalists (VCs) across India, Singapore, Dubai, the US, and the UK.
(With inputs from PTI).