CNBC-TV18's special show India's Angels tracks the journey that a band of angels undertook to create India's largest angel investor network. Like many good ideas, this one was born over a round of drinks between friends.
Raman Roy, Co-Founder, Indian Angel Network: You standing around having a drink and somebody mentioned someone came to see me and then we started chatting that a lot of people come for advice and we all felt a little disheartened that advice never gets implemented.
In 2006 when VC activity was picking up in India but venture capital chasing start-ups which were already generating revenues and scaling operations, bodies like the Indus Entrepreneurs (TiE) while they had a huge foot print in mentoring entrepreneurs had no risk capital to invest. There was a niche waiting to be filled.
What began as a band of angels is today a network with 200 registered individuals and institutional investors. Since 2006, Indian Angel Network (IAN) has invested in over 35 start-ups across sectors and they preferred businesses that have high entry barriers.
Typically the average ticket size ranges between Rs 25 lakh and Rs 3 crore and investors look for exits over a three-five year period. So far, IAN has done four successful exits with one of them giving investors a 5 times return in just 15 months.
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