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Web3 spawns a new generation of angel investors in India

More than capital, Web3 startup founders are looking for value addition, expertise and mentoring from investors. There’s also a shift in fundraising, with startups issuing token assets instead of equity stakes.

February 22, 2022 / 11:03 AM IST

“Sandeep Nailwal is the Elon Musk for Web3 startups - having him on board makes us more credible,” said Abhay Aggarwal, founder of Colexion, a platform for non-fungible tokens backed by Polygon. After being backed by the likes of Nailwal, onboarding other investors and hiring becomes easy, he added.

The rise of Web3 has given birth to a new set of angel investors from India who back entrepreneurs in the space with not only capital, but also mentorship and community building, something these startups place a premium on.

From Nailwal and Jaynti Kanani (cofounders of Polygon) and Tanmay Bhat (content creator) to Nischal Shetty and Siddharth Menon (cofounders of WazirX) and Aniket Jindal (cofounder at Biconomy), these are some of the Indians who have uplifted the crypto or Web3 ecosystem globally, and whose backing is sought by upcoming Web3 ventures.

Web3 ecosystems refer to the decentralised systems that are based on blockchain, without a central gatekeeper. Ownership and data on the apps and platforms on Web3 are shared, more secure and private.