Country’s largest airline IndiGo on Tuesday said IndiGo Ventures has received approval from market regulator Sebi to launch a venture capital fund, which is expected to start investments by the end of this fiscal. IndiGo Ventures, the airline’s corporate venture capital fund, has received the Alternative Investment Fund approval from Securities and Exchange Board of India (SEBI).
“The fund will invest in startups that have the potential to redefine the future of aviation and beyond, seeking pre-Series A, Series A and Series B funding. These include startups working on cutting-edge technologies and solutions within the aviation sector,” a release said.
Further, the fund will look to invest in consumer startups that have a touch-point in the passenger journey, such as travel, lifestyle, hospitality and transportation.
According to the release, the fund has commenced pre-investment activities, including engaging with select startups and their founders.
“The fund is expected to start investments by the end of FY 2024-25,” it added.
IndiGo’s domestic market share stood at 63 per cent in September and it has a fleet of more than 370 planes.
