BENGALURU: Venture growth investor Iron Pillar on Monday said it has received an investment of $10 million from Allana Group in its Fund II, which was launched in the April-June quarter. Adil Allana, supervisory board member of Allana Group, will join Iron Pillar as a board partner. In 2017, Allana Group set up a corporate venture arm and has since made investments in e-commerce, grocery products, challenger brands, media and healthcare. After deploying its $135 million first fund, Iron Pillar is raising a second fund from both new and repeat investors. Iron Pillar has also added three senior professionals to its investment team.

Source: Mint July 06, 2021 12:22 UTC