Indian Angel Network (IAN), the angel investors group, will invest in two start-ups - one in medical device and other in telecom space - in August.
“We are closing one deal in less than a month. In the last six months, we have invested in eight companies, and expect to close around 15 deals by this year end. The two companies will receive around Rs 2-3 crore funding each,” Padmaja Ruparel, president, IAN, told Business Standard.
IAN, which kick-started its operation in 2006, now has over 200 registered angels and has so far invested in 35 companies. Last year, it invested in 11 companies with a total investment of $7.5 million.
Pointing out the current growing entrepreneurship ecosystem in India, Ruparel said, the entrepreneurial activities in India is increasing year-on-year. “In IAN itself, we have seen a huge jump in the number of proposals received, 7,500 in 2011 from 30 proposals in 2006,” she said.
IAN invests in start-up ventures across sectors including semiconductor, internet, telecom, agriculture, banking and financial services, education and healthcare space. Its average investment ticket-size ranges between Rs 25 lakh and Rs 3 crore.
“Along with providing angel funding, IAN also puts its time and effort in the company and the clients post investment in scaling up the business and getting the next round of funding,” Ruparel said. IAN, which operates from five cities, has plans to open its office at Hyderabad this year.
Ruparel was here to address start-ups and first-generation entrepreneurs at Venture Quest, an initiative to enable start up and early stage entrepreneurs to build high impact ventures. The event was jointly organised by IAN, Indian School of Business (ISB) and National Association of Software and Services Companies (Nasscom).