AngelList is planning to launch Syndicates in India, which will allow technology investors to create a single investment VC that raises money from institutions and other angel investors. Utsav Somani is the advisor to the India launch, who will be responsible for opening dialogue with government officials and map out the regulatory framework to enable AngelList to launch in India.
Syndicate allows investors to create private funds that can be financed by other investors and angels. For example, if an angel wants to invest $400,000 in a startup, they can personally invest $70,000 and ask other investors to invest with them. This investment money in pooled in the private fund and for funding the startup.
Founders can control distribution and limit what information is available to which investors. Founders also have the power to discuss how much the syndicate will invest, on what terms, who should be able to invest and when it would like to close. As of now AngelList claims to have closed $355 million in funding through syndicates for 970 startups.
Other services: Other than Syndicate, AngelList provides a jobs platform for startups to hire, although it’s not clear if this will be launched in India anytime soon. The company also has a product called AngelList Intro that lets startups fill out a private application and get introduced to prospective investors. Additionally, it lists companies, startups, salaries, valuations, alumni networks and incubators etc.
Accelerators in India:
– In July GHV Accelerator launched a Rs 350 crore fund for Indian startups.
– In April this year, Target India’s accelerator program announced the addition of its fourth batch of startups.
– In March, Pune-based Maharashtra Institute of Technology (MIT) launched an accelerator called Eduglid for education technology startups.
– In February, HCL Technologies entered into a partnership with Microsoft to launch an incubation centre for Internet of Things in Redmond.
– In the same month, Venture capital firm Kalaari Capital said that it will launch a seed and incubation program called KStart to invest about $20 million in 40 startups over the next 2 years.
– In December 2015, Flexeye launched HyperCat, an accelerator and incubator centre for Internet of Things (IoT) startups in Hyderabad.
– In the same month, China-based mobile internet firm APUS Group launched a fund in India worth Rs 300 crore to invest in startups.
– In November 2015 French aircraft maker Airbus setup Airbus BizLab— an aerospace startup accelerator, in Bangalore.