The Indian Angel Network (IAN) venture capital consortium plans to invest more than Rs 100,000 crore in cross-industry startups by 2021, according to a governance committee member and co-founder of the network.

Padmaja Ruparel, co-founder of IAN, said the consortium members will assess opportunities in biotechnology, augmented reality, manufacturing and the environment.

“We are going to invest and we are both going and we are going to make profits. I think we will do much better than we have this year. I think we should be looking at more than 100 rupees, “Ruparel said.

IAN has invested in startups like FarEye, Fab Alley, HungryZone, Staqu, etc. In 2020, IAN left 3-4 companies after having multiplied by 15 the invested capital.

“I think the other element is anything that is driven by data and analytics. Everything that is motivated by the brand, IT. What we are seeing are innovative ideas with good entrepreneurs, ”said Ruparel.

He said that global India is seeking growth and investment in Jio platforms during the COVID-19 pandemic, which is proof of that.

Jio Platforms has raised a total of 1.52 billion rupees from companies like Facebook, Qualcomm Ventures, Google, etc. in mid-2020, as COVID-19 cases increased daily.

Also Read: Fintech startup KreditBee raises $75 million in funding

“We will see innovations and entrepreneurs dealing with problems in India or solutions for India. I think those solutions will also apply to global problems,” Ruparel said.

He said that the investment environment in the country has improved to a level where American startups have also started raising funds in India.

“2021 sounds very interesting to me. I think what 2020 has done will, of course, have an impact in 2021, but we will continue to invest at the same rate or I would say actually at a faster rate. I think there are many new areas.” it’s that the internet and technology will stay here for now, “Ruparel said.

IAN financed around Rs 100 million in 45 to 50 companies in 2020, he said.