SUMMARY
Indian angel investors have proved their mettle time and again, especially when it comes to identifying and tapping into new opportunities
According to Inc42, India currently boasts more than 125 angel networks and syndicates. This number is projected to rise to 200-plus by 2030
Since 2014, Indian angel networks have actively participated in over 540 funding rounds, backing more than 470 startups
India’s meteoric rise as the world’s third-largest startup ecosystem has astonished many. From just 445 startups (as per government data) at the end of 2016 to 1 Lakh startups, India’s burgeoning tech landscape has fascinated many investors from across the globe who lined up to be an integral part of India’s growth story.
But, this is not the story of global venture capital (VC) or private equity (PE) firms, but rather angel investors who have played a key role in bolstering and scaling this ecosystem.
Standing on par with its global peers, Indian angel investors have proved their mettle time and again, especially when it comes to identifying emerging and untapped opportunities like seed stage investments, which many were initially apprehensive about.
At the same time, the prominence of angel networks has especially come to the fore in recent times as funding dried up across the board. These networks offered a platform to new as well as existing angel investors, thereby playing a crucial role in supporting early stage startups, providing them with essential support ranging from fundraising to operational expertise.
Also, these angel networks bring together angel investors, who come from diverse backgrounds and offer valuable networking opportunities to startup founders. By connecting with these angel networks, entrepreneurs can tap into their expertise, gain market insights, and even form partnerships with experienced investors on a single platform.
According to India’s Startup Investor Landscape Report 2023 by Inc42, the country currently boasts more than 125 angel networks and syndicates. This number is projected to rise to 200-plus by 2030. Since 2014, these angel networks have actively participated in over 540 funding rounds, backing more than 470 startups.
Note: This is not an exhaustive list or ranking of any kind. We have kept the list in alphabetical order. We update this list periodically if you wish to nominate investors for this list, email us at [email protected].
ah! Ventures
Founded in 2012 by Abhijeet Kumar and Harshad Lahoti, ah! Ventures has a network of over 62,000 entrepreneurs and over 3,000 investors. It claims to have made 183 investments in 121 startups till date. Its total investment portfolio amounts to $47 Mn, with 16 exits till date.
The Mumbai-based network enables startups to raise funds up to $10 Mn. Most recently, it invested in EV startup Starya Mobility.
ah! Ventures claims to specialise in areas such as venture consultancy, venture management and operations, incubation, valuations and analytics.
The angel network’s portfolio includes startups like Aisle, Ufaber, UnoCoin, Newsbytes, and Shirsha Labs.
AngelList India
The Silicon Valley-based investors’ network entered India in 2018. Founded by Naval Ravikant, the network claims to have backed 500-plus Indian startups. It last participated in STAGE’s $4.8 Mn funding round in November 2022.
On the occasion of the launch, AngelList India stated that maintaining a high benchmark of inviting investors that have considerable prior investment experience and domain expertise is one of its objectives.
BharatPe, Dealshare, Jupiter Money, Teach Mint, Plum, Blue Tokai Coffee Roasters are some of the prominent startups in AngelList India’s portfolio.
Calcutta Angels
Established in 2013 by Kumar Patodia, Pradyumna Dalmia and Raghav Kanoria, Calcutta Angels network has a portfolio of 17 startups. Their investments are stage and sector agnostic.
Some of the notable startups that the network has backed include MCaffeine, LetsMD, Tabsquare, etc.
In 2018, it joined hands with Mumbai Angels to work together as a single unit. This partnership was aimed at offering investing best practices, learning sessions, active portfolio management, etc.
Chandigarh Angels Network
With over 70 investors on board, Chandigarh Angels Network (CAN) was founded in 2015 by Alok Ramsisaria. The network claims that its portfolio startups have created over 1,500 jobs.
To date, the network has made 28 investments, out of which it has led eight and exited three. Its portfolio members hail from different industries such as F&B, education, fintech, consumer internet, social services, retail, etc.
CAN members have backed startups like Biryani By Kilo, Pick My Work, goSTOPS, TSaw Drones, Heal At Home, and many more.
With ecosystem partners like JITO Incubation and Innovation Foundation, HSBC, Global Business Angels Network, Headstart, and IIT Mandi Catalyst, CAN offers mentorship to the budding entrepreneurs besides funding.
Dexter Angels
Dexter Angels, founded in 2019 by Devendra Agrawal, is on a mission to provide vital financial support to early stage startups. Notably, the network maintains an open-minded approach when it comes to the sectors it supports.
Dexter Angels actively invests in a diverse range of startup sectors, including health tech, edtech, deeptech, consumer brands, and many others. Its primary focus areas include startups involved in SME digitisation, edtech, initiatives aimed at enhancing healthcare affordability, fostering financial and technological inclusion, developing consumer brands for the discerning Indian market, and nurturing Indian SAAS startups.
Among the notable startups in their portfolio are TagZ, Flatheads, HealthySure, and Hair Originals.
Dexter Angels boasts a network of over 35 investors, many of whom are founders or seasoned industry experts. Since its inception, the network has backed 13 startups.
Hyderabad Angels
Founded in 2012, Hyderabad Angels backs early stage startups and sources its investments from countries the US, the UK, Singapore and the UAE.
Hyderabad Angels has over 120 investors from diverse backgrounds. The network has made over 50 investments with over 10 successful exits. Additionally, the network has partnered with 50-plus companies to garner investments for startups.
The network is chaired by Rajesh Manthena, VC, American Oncology Institute (AOI).
According to its website, the objective of the network is to nurture aspiring entrepreneurs to create tangible as well as intangible value.
Hyderabad Angels’ portfolio includes names like BluSmart Mobility, ZineOne, Metamorphosis, Flexmo, Zepo, and OnlinePrasad, among others.
The angel network counts Ah! Ventures, Microsoft, LetsVenture, Tracxn, Innoven Capital, Startup India, and NASSCOM as its partners.
Indian Angel Network
Formed in 2006 by Alok Mittal and Padmaja Ruparel, Indian Angel Network (IAN) has made 198 investments, led 98 rounds, and made 14 exits.
IAN is a SEBI-registered early stage fund with more than 470 investors from around 11 countries.
IAN claims that it provides constant access to high quality mentoring, vast networks and inputs on strategy as well as execution. The members of the network look forward to investing in startups from several industries such as agriculture, ecommerce, education, hospitality, internet, gaming, retail, and semiconductor, among others.
JITO Angel Network
Jito Angel Network is a part of Jito Incubation and Innovation Foundation (JIIF). The network was set up in 2017. It derives its name from Jain International Trade Organisation.
Headquartered in Mumbai, JITO was founded by Siddharth Jain. The network has over 450 investors. Since its inception, the angel network has made a total of 76 investments, with 46 of them being led by the network itself. The cumulative investment made by the network so far exceeds INR 147 Cr.
Some of its portfolio startups are BluSmart Mobility, Magenta Mobility, Chalo, Comofi Medtech, Bodhi AI, and Chargegrid, among others.
JITO aims to create an innovation driven entrepreneurial ecosystem for socio-economic development and building great companies.
Lead Angels
Formed by Sushanto Mitra in 2013, the network has completed a decade in India. It works with 400 angel investors from diverse backgrounds from India and overseas. The network is registered with SEBI as Category-I AIF.
To date, it has made 80 investments and led 19 rounds. Lead Angel counts Supr Daily, Planet SuperHeroes, and Belita as its most notable exits.
Its member investor base comprises seasoned entrepreneurs, professionals, and industry veterans. Other than India, Lead Angels has its footprints across the Middle East, Europe and North America.
The network has backed startups like Shopkirana, Supr Daily, Godesi, Ockypocky, PlanetSpark, SkyeAir, Dhruva Space, etc.
Other than investments, the network also supports startups with compliance and governance requirements of these companies through its vertical, Lead Advisory.
LetsVenture
Established in 2013 by Shanti Mohan and Sanjay Jha, the network claims to have made over 950 investments with a portfolio value of over $11 Bn. LetsVenture has 19,530 investors in the network.
Last year, the Indian Ministry of Electronics and Information Technology (MeitY) collaborated with LetsVenture to invest in early-stage startups. It was announced that LetsVenture Foundation, under the government’s startup accelerator programme, SAMRIDH, would invest up to $100K in eight startups in the first phase of the partnership deal.
Some of the notable startups in its portfolio include Airmeet, CityMall, BharatX, Dukaan, Agnikul, Absolute Foods, Trell, inFeedo, Yulu Bikes, Vernacular.ai, etc.
Mumbai Angels Network
With 750-plus investors, Mumbai Angels Network (MAN) claims to have made more than 200 successful investments. The network has made 100-plus exits.
Founded in 2006 by Prashant Choksey and Praveen Chakravarty, MAN’s investors across 10 countries have INR 400 Cr in Indian startups. According to data shared by the network on its website, startups that belong to technology, marketplace and life sciences make for 14%, 10% and 8%, respectively, of its portofolio.
It has invested in startups such as Canvera, Purplle, Avishkaar, BluSmart, Myntra, Snackible, NewsBytes, etc.
According to the network’s official website, it aims to explore synergy with its investors coming from diverse backgrounds and industries.
The Chennai Angels
Founded by Ramaraj R in 2007, the Chennai Angels (TCA) focusses on agritech & sustainability, EVs, deep science and technology, healthtech, fintech, D2C, and Web 3.0. To date, the network claims to have backed over 80 startups across India.
The network has backed Chai Kings, BatteryPool, Samaaro, Finance Buddha, goSTOPS, Freed, and many other startups. TCA has received successful exits from startups Purplle, TrulyMadly, CloudCherry, PopXO, and Online Prasad.
The angel network has a base of 120-plus individual, institutional and corporate angel investors. The members of this network hail from different industries.
It has also partnered with other angel networks in India, some of which are Indian Angel Network, Chandigarh Angels Network, LetsVenture, Venture Catalysts, etc.
Venture Catalysts
Founded in 2016 by Anil Jain, Anuj Golecha, Apoorva Ranjan Sharma, and Gaurav Jain, Venture Catalysts has investments in 176 startups, with a combined value exceeding $3 Bn.
It made its latest investment when BASIC Home Loan raised $4.7 Mn in a pre-Series B round led by stock market investor Ashish Kacholia.
Its portfolio includes names like AgriGator, Airmeet, Ai Highway, Beardo, BharatPe, Betel Leaf, Brew House, BluSmart Mobility, Clout Loot, and Desi Farms, etc.
We Founder Circle
We Founder Circle (WFC) claims to have a base of more than 9,000 investors. Founded in 2020 by Neeraj Tyagi, Gaurav VK Singhvi, Bhawna Bhatnagar, Vikas Aggarwal and Saurabh Deo; it has participated in over 100 investment deals. The network’s objective is to offer multi-domain expertise to startup founders through a diversified network of distinguished investors.
Other than India, the network has footprints in the US, the UK, Singapore, Australia, Germany and Switzerland.
In March this year, the angel network announced the launch of its startup marketplace Invstt.com for easing out portfolio management, angel investing and networking.
Some of the notable startups from its portfolio are Stylework, Vidyakul, Settle, Blusmart Mobility, Microfinance.ai, etc.
Yatra Angel Network
Yatra Angel Network (YAN) was founded in 2020 with the primary objective of nurturing fintech startups in India. It primarily focusses on early stage companies and actively participates in pre-seed to pre-Series A funding rounds.
Based in Mumbai, YAN holds the distinction of being India’s first early stage fintech-focussed SEBI-registered CAT 1 alternative investment fund. Its core mission is to encourage its investors to support fintech startups dedicated to solving challenges through technologies such as AI, ML, and data analytics.
YAN asserts that its investors not only provide financial backing but also offer invaluable subject matter expertise, extensive networks, mentorship, and potential connections to customers, partners, and vendors.
It is worth noting that all of YAN’s investors boast a minimum of 15+ years of experience and possess well-established networks within the financial services sector.
The network’s portfolio value currently stands at approximately $300 Mn. Notable startups in its portfolio include PayGlocal, M2P, One Card, Riskovry, and ShopSe, among others.
Last year, YAN launched an INR 90 Cr early stage fintech-focused Alternative Investment Fund (AIF). The network said that it would allocate the funds across 25-30 early stage fintech startups.
Note: This is not an exhaustive list or ranking of any kind. We have kept the list in alphabetical order. We update this list periodically if you wish to nominate investors for this list, email us at [email protected].
Last updated on October 02, 2023 At 16:00 IST
