Enlighten Angel Fund : New Rs 200 Crore Fund Targets Early-Stage Indian Startups
A fresh investment vehicle focused on early-stage startups has been unveiled with a Rs 200 crore fund, marking its transition from Enlighten Angel Fund to Enlighten Capital Micro VC. The fund, which includes a Rs 100 crore greenshoe option, has secured SEBI’s approval to function as an Alternate Investment Fund (AIF).
The investment focus will center on startups operating in emerging technologies, smart manufacturing, and the electric vehicle sectors. Having already backed 10 startups through syndicated investments over the past two years, the fund aims to strengthen its position in India’s venture capital space through its network of limited partners (LPs) and angel investors.
“We aim to support founders who are creating meaningful solutions for India’s future,” stated Koushik Shekar, who leads the fund as Managing Partner.
Recent data shows that Indian startup funding in 2024 reached $11.3 billion, showing a modest 6% increase from $10.7 billion in 2023. However, the total number of funding rounds decreased by 31%, dropping to 1,448 from 2,114 in the previous year.
Seed-stage investments experienced a 22% decline, falling to $970 million from $1.25 billion in 2023. Early-stage funding showed slight growth, increasing by 2.09% to reach $3.16 billion in 2024, compared to $3.09 billion previously.
The startup ecosystem also witnessed the rise of six new billion-dollar valued companies in 2024, showing improvement from two such companies in 2023, though still below the 24 recorded in 2022.
