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Mumbai Angel network plans to invest in start-ups
July 30, 2021
Mumbai Angel Network is planning to siphon up its investments in the Indian start-up ecosystem this financial year, by shutting 50 to 60 early-stage deals by March 31,2022. This objective is just about multiple times higher than the 20 deals the angel network has been making yearly between financial year 2017-2020. It broke 35 deals in FY2021.
The angel network aims to invest into more than 500 new stat-ups in the next three-five years. It plans to deploy close to ₹150 crore to ₹200 crore in the two or three years, addressing a four-fold increment compared with ₹50 crore capital it deploys annually at present.
Mumbai Angel Network’s co-founder and (CEO) Nandini Mansinghka, in an interview with Business Insider, said that they have been noticing a great deal of activity across a range of ventures, therefore they don’t actually have a particular area of focus right now. “As an Angel Network, we don’t have any investment thesis, we focus around new start-ups that are interesting,” she added.
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