New Delhi, Aug. 20 -- IAN Group said on Wednesday it has appointed former Info Edge (India) finance chief Chintan Thakkar as a senior managing partner of the company's venture capital fund, while naming him the chief executive of the early-stage investing platform .

The appointment will fuel the company's growth as it targets Rs 5,000 crore (around $574 million) investments across 500 companies by 2030. IAN Group controls IAN Angel Network, BioAngels and IAN Fund I and IAN Alpha Fund.

"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 Cr investment, spawning 500 startups and creating 500,000 jobs," said Padmaja Ruparel, co-founder of IAN Group.

Thakkar joins IAN Group after working for Info Edge for a span of more than 11 years, as a chief financial officer. At Info Edge, he helped execute capital market and mergers and acquisitions (M&A) transactions, and was "deeply" involved in the company's investments in early stage companies, according to a statement. He was also involved in the company's efforts to launch alternative investment vehicles to back startups.

A chartered accountant by training, Thakkar has held key positions in companies such as venture capital firm New Enterprise Associates (NEA) and software company CA Technologies. At CA Technologies, now a part of chipmaker Broadcom, he served as the company's India CFO for more than 12 years, where he helmed the creation of multiple businesses, as per his LinkedIn profile.

"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," Thakkar said in a statement.

In the past 19 years, IAN has launched several VC funds off an angel platform. On a single platform, the company invests between Rs 50 lakhs and Rs. 50 crore (between $57,000 and $5.74 million) in startups, while mentoring them and helping them with global market access.

Over the years, the angel investing platform has created a portfolio of around 240 companies, including three unicorns and seven soonicorns across 19 sectors in India.

Published by HT Digital Content Services with permission from VC Circle.