The Indian Angel Network, which is a major angel investor in the Indian startup scene, has decided to modify its funding strategy by lowering the minimum amount it invests in startups from Rs 2-3 Crore to Rs 75 Lakh.
IAN used to invest somewhere around Rs 5 Crore (preferably 2-3 Crore) in upcoming startups, and now has reduced the amount stating that there are a lot of firms which need lesser amounts as seed investment. It said:
Indian Angel Network has therefore re cast its strategy for funding and mentoring early stage start ups in mobile, Internet space and proposes to fund around Rs 75 lakh each for the first about two dozen start ups.
Why did IAN lower the funding amount?
- IAN says that there are many startups which require lower funding than Rs 2-3 Crore. So to accommodate their demands the minimum funding given out was lowered to Rs 75 Lakhs.
- Although its my guess but could be a possible reason – there are too many startups worth investing in the Indian sphere as of now. Now, IAN could have lowered the limit in order to have a chance of investing in each one of them before their fund dries up. I know it is totally baseless without any proof, but don’t you think it could be true?
Here is a list of IAN’s portfolio i.e. the companies in which the Indian Angel Network has invested in currently.
Here’s what IAN provides to entrepreneurs:
- Mentoring
- Help in growing the business
- Angel funding
The Indian Angel Network is India’s oldest angel investment firm. It was established in the year 2006, which is not too old in terms of years but in terms of the work done it has been the most fruitful period. This is possibly the best time for an Indian entrepreneur with a good number of angel and VC firms around.
Source
Abhineet Kumar is the co-founder of Hungry N Foolish. A student of Business Administration, he is passionate about entrepreneurship and blogging. Abhineet urges you to do your bit in making this world a better place to live in, in your own small ways. Catch him on Twitter @abhineetsays.
0 comments: