Early stage investing platform, IAN Group, on Tuesday said it has appointed Info Edge executive Chintan Thakkar as its CEO.
Thakkar will also work closely with IAN Alpha Fund as its Senior Managing Partner. IAN’s Alpha Fund, which had its first close in 2023, was expected to have a target corpus of Rs 1,000 crore and aims to invest in over 500 startups.
According to his LinkedIn profile, Thakkar’s stint at Info Edge spanned over 11 years, where he was the Group CFO and director at the online classifieds platform.
“With the induction of Chintan, our management team comprising Rajnish Kapur, Madhav Sikka and Sarika Saxena, is significantly strengthened, giving us the management bandwidth to achieve our vision of Rs. 5000 crore investment, spawning 500 startups and creating 500,000 jobs,” said Padmaja Ruparel, Co-Founder of IAN Group.
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IAN, which is an acronym for Indian Angel Network, had historically backed startups in emerging sectors. According to the company, over the last 19 years, IAN has consistently returned capital with multiples in high double digits.
“IAN is one of India’s most respected names in the investment world. Its commitment to investing in innovation that addresses real problems or meets national strategic imperatives truly excites me. I look forward to making a significant contribution alongside the IAN Board and the team,” said Thakkar.
Meanwhile, Info Edge also informed public bourses of Thakkar’s resignation. The company’s board has appointed former CFO, Ambarish Raghuvanshi, as its interim CFO with effect from November 20, until the appointment of a new CFO. Raghuvanshi has been a co-promoter of the company and served as its director and CFO from 2001 to 2014.
Edited by Jyoti Narayan
