Tech/New Media


We ( Innovation Angels) are organizing the next pitch on Oct 10th, 2012, Wednesday. Similar to the earlier pitches this is a closed networking event and only about 6/7 startup teams would be selected for the session.

We have seen phenomenal responses to our earlier events. These events have helped a few interesting startups to get good advice/ suggestions which has helped them to a great extent.

In fact we have been getting requests to hold more of these events more frequently/ regularly.

The startups who will pitch in these events will get access to a great many Angels/ early stage VC’s who will be present for  evaluating them.

Every event of our’s has seen a bigger audience ( more investors looking for potential investments )

Hence all interested Entrepreneurs/ Startups/ Teams can please get in touch.

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.

I’m happy to announce that Vengo Ventures is looking to raise a $6M Seed Fund to start investing in the early stage start-ups in India.

There is already an Anchor investor who has come on board and who has committed to invest upto 10-15% of the total fund size. The anchor investor has considerable experience in investments and is a senior executive in the VC circles in India.  The initial ground work on the Fund has started and talks are already on with quite a few potential marquee investors ( read LP’s ) to come on board the fund.

The purpose of the fund would be to invest anywhere from $25K upto $100K in start-ups which will have a clear differentiator in the form of an IP. The maximum the fund would invest in the entire lifecycle of the start-up would be $250K.

The focus will be on Start-ups that have a strong team/entrepreneur , which can be capital efficient ( Lean Start-up culture ), an business idea which has a clear path to revenues. Such start-ups can get in touch with me. We believe in being active investors and like to work closely with our portfolio companies in the initial days of the company.

Of the $6M fund $4M is earmarked for the primary seed investments and the remaining $2M will be set aside for follow-on investments into the portfolio companies .

There is considerable interest amongst potential investors and am getting good inquiries from various quarters about the same.

Also if there are any potential investors who are interested to invest in the fund, they can write to me.

I will have more information to provide as regards the fund soon.

There is an Indian search engine called Samfra. com. Samfra is a self funded Bangalore based, Matcoms Technologies company. It intends to provide a local and intuitive feel to the search engine capabilities. It offers users the ease of search for Local addresses, Movie Trailers, Movie Show Timings, Latest News, Video search , Etc.,

They have gone mobile. They are growing rapidly and are taking giant strides in their services offerings.

Looks like they have quite some innovative ideas and plans up their sleeve.

Keep watching this space for more updates in the near future….