To capitalize on the growing investment startup opportunities in the Indian market, the Indian Angel Network (IAN) – a collective alliance of individual investors who source deals as a single entity – has joined force with similar angel groups to form an international association for angel networks throughout the world. Dubbed the World Business Angels Association, or WBAA, this association was launched to provide startups in India with more access to capital, while also ensuring entrepreneurial opportunities are visible to angels all around the world.
In this interview, Padmaja Ruparel, the head of IAN, introduces IAN and WBAA. In part II, Padmaja will talk about current investment market in India.
* Edited interview
VH: What can you tell us about IAN?
PR: India’s first angel network, Indian Angel Network (IAN), brings together successful entrepreneurs and CEOs who share a passion to enable more early stage businesses to create scale and value. By focusing on startups, IAN fills the gap to provide funds that haven’t been available to early stage companies. IAN believes that early stage businesses require more than just money to succeed — they require close mentoring and inputs on strategy as well as execution. The IAN is comprised of who’s who of successful entrepreneurs and CEOs across the country and from overseas.
VH: How many plans does IAN receive in a month?
PR: IAN has given a nationwide call to entrepreneurs with its partnership with India’s leading business daily, Economic Times. Apart from its usual deal flow of over 60 plans a month, it received over 12,000 business plans in 30 days.
Today, entrepreneurship has clearly become an alternate career path and angel investing an alternate asset class in wealth portfolios.
VH: That’s A LOT of plans. How many ventures and which sectors has IAN invested in?
PR: IAN has invested in 18 ventures across multiple sectors in India and overseas. IAN investee companies are in sectors like education, software product, mobile, IP (intellectual property), robotics, consumer internet, legal process outsourcing, IT infrastructure, hospitality, etc.
VH: What led to the formation of the World Business Angels Association (WBAA)?
PR: The idea to form such an association was born in October 2007 at a meeting of global angels in Lisbon. It’s now become a reality as WBAA was officially launched in April 2009. The association is the first international association for angel groups across the world. IAN is one of the first members to propose the formation of the WBAA.
VH: What’s the distinction between the IAN and the WBAA?
PR: IAN is a business angel group which provides a platform for its members to invest in startup and early stage companies. Entrepreneurs connect with IAN and pitch to its members in order to secure seed money.
WBAA is a global association for angel groups. In other words, rather than individual investors, members of WBAA are made up of angel networks around the world. The idea is to create the first international community for angel networks worldwide.
Want to learn more about India’s investment climate? Join Venture Hype tomorrow as Ruparel gives us a rundown on venture investing in India.
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* For series, references are published in the last installment of the series.
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