Start-up Village, Cochi-based India’s first telecom incubator, has received Sebi’s approval for its angel fund of $10 million that could go up to $20 million with a ‘Green Shoe’ (over-allotment) option.
The focus area of the fund will be Telecom/Internet, and it would start investing once the initial close of $2 million is achieved.
The approval for the angel fund is expected to address the problem of resource crunch for startup companies across the country.
“We are looking to broad-base the investor profile with a large set of angel investors, many of whom might be first time angel investors in India,” Startup Village Chairman Sanjay Vijayakumar said, while breaking the new of Sebi’s approval.
About The Company
Startup Village has been featured as a major achievement in the two years of the present Kerala Government. In response to the Govt announcing policy support and incentives to student entrepreneurs around 700 small startups have come forward to get themselves incubated. The total investment exceeds Rs.100 crores and around 5000 employment opportunities have been created. Infosys co-founder Kris Gopalakrishnan, RP group founder Ravi Pillai, MobMe founders and a few industrialists and leading angel investors will be part of the fund. Consultancy KPMG is the advisor and ILFS is trustee of the fund