Startup News: Indian Angel Network Plans To Invest Over Rs 100 Cr In Startups In 2021
Indian Angel Network (IAN), a venture capital consortium, is planning to invest over Rs 100 crore in startup firms across sectors in 2021.
Padmaja Ruparel, IAN Co-founder, said,
“We will invest, and we will exit, and we will give returns. I think we will do much better than what we have done this year. I think more than Rs 100 crore we should look at.”
Padmaja said the consortium members would evaluate opportunities in augmented reality, manufacturing, biotechnology, and environment space.
Indian Angel Network is a network of angel investors keen to invest in early-stage businesses which have the potential to create disproportionate value and has invested in startups like WebEngage, Druva, FarEye, Wow Momo, Fab Alley, HungryZone, etc.
Ruparel said that IAN is looking at innovative ideas with good entrepreneurs. She also added the environment for investment in the country has improved to a level where US-based startups have also started raising funds from India.
“To me, 2021 looks very interesting. I think what 2020 has done will obviously impact 2021, also but we will continue to invest at the same pace, or I would say higher pace actually. I think a lot of the new areas will come up. The reality is that onlines and technology are now here to stay.”
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