Start Ups: Rising Tide of Angels Boosts Seed Capital
Thursday, March 3, 2011
Scores of angels are descending on India’s booming entrepreneurial sector as risk capital for very early stage firms emerges as a profitable investment category.
In Mumbai, early stage investment firm Seedfund has set up Seed Farm, a dedicated facility to incubate business ideas that will be funded by a sub-$7-million corpus. Sasha Mirchandani, one among India’s successful angel investors and founder of the Mumbai Angels network, is setting up Kae Capital, a seed fund that will help germinate high-risk high-reward business ideas.
While in Chennai, Vijay Anand, founder of networking event Proto.In, is kick-starting ’Start-up Centre’, an incubation centre for high-growth enterprises that will be replicated across other major entrepreneurial hubs in the country.
This influx of new funds will join a plethora of individual investors, referred to as Super Angels, such as Ravindra Krishnappa in Bangalore to Alok Kejriwal in Mumbai, who provide money and world-class mentoring services to a range of enterprises in sectors from technology, retail, mobile and internet services.
Source: The Economic Times (link opens in a new window)
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