Six months after launching India dedicated fund, Silicon Valley-based AngelList has announced angel fund product for individuals and institutions to raise capital upfront and invest in startups.
The fund, which is said to be fully managed by technology, will allow people to raise small blind pools in a range of Rs 2-8 crore and deploy the capital over the next 6 to 12 months.
“This will allow experienced operator angels to write larger and faster cheques into more competitive deals,” said AngelList in a post.
It also claims to offer funds without the legal, or regulatory hassles.
The fund product has witnessed over half of its total investments on its platform being driven by the angels.
Besides, the Angel fund managers will have the option to invite India dedicated fund ‘The Collective’ to invest alongside them.
Till date, AngelList India claims to have launched six Angel Funds, who are said to have already begun making investments in startups.
Among the early-stage investment funds hosted on AngelList include FirstCheque and The IIM-K Alumni Association.
In April, AngelList had launched ‘The Collective’. The fund has got backing from entrepreneurs, who have carved their own niche, and experienced investors including Flipkart co-founder Binny Bansal, Avnish Bajaj (Matrix Partners India), Tarun Davda, Vikram Vaidyanathan, Navroz Udwadia (Falcon Edge Capital), Rahul Mehta (DST Global) and funds like Kalaari Capital, FJ Labs, and Beenext among others.
The Collective promised to back 60-80 startups in the period of next one-and-half-year.
Apart from investments in some famous funds including Sequoia Capital India, Matrix Partners India, Omidyar Network, Blume Ventures, and BeenextIn India, AngelList has invested in startups including Elemential, BharatPe, Yulu, Open, Nymble, HalaPlay, Jai Kisan and Lean Agri and many more.
