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Allana Group invests $10m in Indian VC firm Iron Pillar Fund II Photo: Pixabay July 7, 2021 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. It has made two investments so far – in CoreStack and Ushur. Both were warehoused for the fund before its launch.

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