For a while now we have been thinking about doing something about the lack of an Angel Network in Bangalore. Though both IAN & MA have representation here it really makes sense to have the decision making out of this place. There is no doubt that they are both doing a great service by supporting many startups & entrepreneurs. However I have always felt that for a country as big & as diverse as India we could do with many more Angel networks. Also since Bangalore is the undisputed Tech Hub where most of the startups gets started its only apt that an Angel network based in Bangalore gets going.
Towards that effort recently we had organized a pitching session in Bangalore for 7 startups who were looking for Angel Investments. One of the startups was a US based startup too. There were some individual Angels & a couple of VC Funds & a small super Angel fund who not only wanted to be part of this new Angel Network but also were very encouraging & supportive of this whole new endeavor. Also one of the Angel Investor was a prolific Angel Investor from the US who has done some significant number of investments in India already. This particular pitching session was organized more as an Adhoc/ random session. However going forward we intend to formalize this activity & the pitching session will be held once every bi-monthly or even once every month depending upon the traction.
Until now in India some of the best Technology startups have been happening in Bangalore. However the unfortunate thing was that so far there was no Angel Network/s based here to cater to their needs. So these startups had to reach out to networks which are not headquartered here. Since the decision making is elsewhere it would take a little more time for the startups to hear about their decisions post pitching. Also the Angel networks work well & are generally successful when the startups they support are in the neighborhood ( At least that is what the Angels normally prefer ).
This being the reason the whole intent of this new network is to be of assistance in a quicker & faster way to the early startups in this part of India. The intent is to provide a quick feedback to the startups so that they can focus on their work without the whole pitch being too much of a distraction. This network will be Headquartered & operational out of Bangalore.
So all the promising & interesting startups are encouraged to reach out to us. We also Welcome & Encourage potential sponsors to reach out to us.