India-focused angel investment group Indian Angel Network (IAN) has reached a final close for its first venture capital fund with INR3.75 billion (approximately USD52 million) in commitments. Investors in the fund include Small Industries Development Bank of India, IIFL Holdings, Yes Bank, Max India, Gray Matters Capital, and Hyundai. Other participants include individual investors Kris Gopalakrishnan, Sunil Munjal, Rajan Anandan, Kanwal Rekhi, Vikram Gandhi, and Jerry Rao. The fund, which will invest INR2.5 million (USD35,400) to INR500 million (USD7 million) in each deal, will focus on opportunities in the agriculture technology, health, financial technology, cybersecurity, and education technology spheres.