HAF.VC launches Rs 150 crore category 1 AIF fund for startups

HAF, a Venture Capital firm, has announced the launch of its inaugural Venture Capital Fund, a Category 1 Alternative Investment Fund (AIF), with an investable corpus of Rs 100 crore, coupled with an additional greenshoe option of Rs 50 crore. The strategic fund is specifically tailored to cater to startups, placing a paramount focus on scalability through cutting-edge technology and AI integration.

The initiative underscores HAF's commitment to fostering innovation and supporting the burgeoning startup ecosystem in India. Notably, the fund's management partners, serving as primary investors, have earmarked the management fee to bolster the investment team, underscoring a steadfast dedication to laying a robust foundation for success.

The fund's modus operandi involves active involvement from seasoned entrepreneurs as investors, aiming to expedite the scaling process for startups equipped with robust technological frameworks. It aims to deploy up to Rs 5 crore across 20 disruptive startups, primarily in the Pre-Series A/Series A stage, with a firm commitment to follow-on investments to fuel future growth.

HAF sets itself apart by actively seeking the participation of accomplished entrepreneurs as investors, fostering an environment conducive to rapid scalability for startups rooted in advanced technology. The overarching objective is to establish a collaborative platform where successful entrepreneurs and investors converge to nurture game-changing ventures across diverse sectors including Pharma, health sciences tech, education, and sustainability.

Sri Myneni and Kishore Ganji, Managing Partners of HAF, envision a mission that transcends mere financial backing, stressing a holistic approach to address individual challenges and facilitate strategic capital infusion to fuel global innovation. They said, "As serial entrepreneurs and angel investors, we firmly believe in the transformative power of innovation. HAF is conceived as a dynamic, collaboration-driven platform where founders not only secure financial support but also leverage the collective wisdom of accomplished Limited Partners (LPs) who themselves have traversed the path to success."

BVR Mohan Reddy, Founder & Executive Chairman of Cyient, lauded HAF's proactive approach in fostering engagement between Limited Partners (LPs)/ investors and entrepreneurs, underscoring the pivotal role of collaboration in creating successful ventures. He said, "Fostering an active engagement platform between LPs/investors and entrepreneurs is crucial for nurturing successful businesses. HAF is meticulously designed with this strategic approach, drawing on the guidance of seasoned investors from diverse industries."

Mahankali Srinivas Rao (MSR), CEO of T-Hub, lauded Hyderabad's stature as the epicentre of innovation, affirming HAF's readiness to leverage the synergies inherent in the collaboration between funds, industry leaders, and the vibrant startup ecosystem in Hyderabad.