Notes from a Presentation by Vidya and comments from a couple of Angels from the Indian Angel Network (IAN) heard at the Headstart event in Chennai:
Indian Angel Network:
- Averaged one investment per month in 2012
- Has about 200 angels in its network
- Funded OrangeScape, a Chennai based fast growing Cloud Company
- Typically invests anywhere from 25 lakhs to 5 crores. Their sweet spot is around 2.5 crores
- Is sector agnostic
- Has many investors with Chennai connections
- Has investors from India, USA and Europe
- Investments of less than 75 lakhs are on a fast track
- Don’t need the founders to be college graduates (in answer to a question from audience)
- Some times split large investments into two phases (part of it to cover risk and part of it for growth)
- Provide both strategic and operational direction
- Provide smart capital (not only money but help in growing your business)
- Provide a large contact base for business owners to get help from (connections of 200+ angels)
During discussions, they gave some guidelines on where they invest with respect to city based angels and VCs.
< 1 crore rupes (roughly US $200,000) – seed or local angel
1- 5 crores – IAN
> 5 crores – VC firms
I am hoping to get the presentation from Vidya and link it here. Were you at the event? Did I miss anything significant about IAN? Please add your input and thoughts in the comments.