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Angel investor launches Pune chapter for city entrepreneurs

DNPUN26447 | 5/15/2010 | Author : Nilanjana Ghosh Choudhury | WC :236 | Business & Economy

The group plans to open its next branch in Hyderabad

Budding entrepreneurs with bright ideas can now look forward to getting their business ideas funded by leaders of the corporate world.
Indian Angel Network (IAN) one of the first and largest angel network groups comprising big names in the corporate world announced the launch of its Pune Chapter on Friday.
Pune is the fourth city after Delhi, Mumbai and Bangalore where the chapter has been launched. "The platform will bring Pune's entrepreneurs closer to Angel investors and integrate Pune-based investors to the IAN Network. The launch would also facilitate various investor meets in the city to invite start-up firms and early stage entrepreneurs to present their plans for investment," said Padmaja Ruparel, IAN president at a press meet on Friday. After Pune the group plans to open its next chapter in Hyderabad.
IAN currently has nearly 120 investors in both India and abroad who have invested in 20 odd start-ups in the country. So far, nearly Rs40 crore have been invested by IAN .The amount invested varies from project to project. By focusing on start-ups, the network addresses the current issue of severe dearth of funds available to early stage companies. Some of the areas where the forum has invested are IT, mobile applications, hospitality, education, robotics and consumer electronics.
"By bringing IAN to Pune we bring an opportunity for successful entrepreneurs to invest in the entrepreneurial ideas being generated," said Alo...

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