Categories: Travel

IndiGo secures SEBI nod to launch venture capital fund, ET TravelWorld

IndiGo, India’s largest airline has announced that IndiGo Ventures, its corporate venture capital arm, has received official approval from the Securities and Exchange Board of India (SEBI) to launch its Alternative Investment Fund (AIF). This marks a significant milestone in IndiGo’s journey to drive innovation within the aviation industry and beyond.

IndiGo Ventures will target early-stage startups in pre–Series A, Series A, and Series B funding rounds, particularly those pioneering breakthrough technologies and solutions in the aviation sector. The fund also plans to invest in consumer-facing startups related to the passenger journey, encompassing sectors such as travel, lifestyle, hospitality, and transportation, aligning with IndiGo’s goal of enhancing the overall travel experience.

IndiGo Ventures has already begun pre-investment activities, engaging with select startups and founders. For those interested, more information about the fund, its investment thesis, and governing details can be found on their official website, GoIndiGoVentures.com. The fund is expected to begin deploying capital by the end of FY 2024-25.

Neetan Chopra, Chief Digital & Information Officer, IndiGo, commented on the approval, stating, “IndiGo Ventures will play a crucial role in fostering innovation within the aviation sector and beyond. By leveraging IndiGo’s technical expertise and vast geographical presence, we aim to develop cutting-edge products and services that will revolutionize the passenger journey.”

With this venture capital fund, IndiGo said it is poised to redefine the future of aviation and related sectors by offering startups the opportunity to scale their innovative ideas while contributing to the next wave of technological advancement.

Set up by JRD Tata in 1932, Tata Airlines was later nationalised and the name was also changed to Air India. Over the years, Ratan Tata’s longing to bring back Air India under the stewardship of Tata Group remained a dream. Back in 1994, Tata Group and Singapore Airlines made efforts to set up a joint venture airline in India. Six years later, they again tried to enter the country’s aviation market, this time by teaming up to acquire stakes in Air India.