AngelList, a US-based website for startups, angel investors which allows startups to raise capital from accredited investors, is looking to kick-off in India as well at a time when early-stage funding is at all-time high in India.
Founded in 2010 by serial entrepreneur Naval Ravikant and Babak Nivi, AngelList has already democratized Silion Valley’s traditional startup investment process by making it an online process by allowing startups to raise money from angel investors free of charge. Now, in order to expand its geographies beyond the Valley, the platform is all set to set up its shop in World’s fastest groiwng start-up ecosystem – India.
Apart from US, AngelList is already operating in UK, Canada, Australia, and some parts of Europe.
Notably, AngelList also offers job search for job-seekers who are looking to work at startups and India is already big market for it.
AngelList, is starting off in India with Bengaluru, dubbed as India’s Silicon Valley, and the company is looking to hire its first person on the ground to get some market intelligence. In an interview, co-founder Ravikant had said that he was exploring the local regulations in India before setting up its presence in the country. Although, it’s not clear at present if AngelList will introduce Syndicates in India right away.
“The tech ecosystem in India is growing quickly and India is a huge, English-speaking market. So we definitely want to be here, but it all depends on regulations,” said Ravikant, co-founder, AngelList.
An Indian American, Ravikant is often called Silicon Valley’s startup kingmaker having made angel investments in Uber and Twitter, among others.
As of 2014, AngelList syndicates invested over $100M in 240 US startups.
In India, there are entities working almost like a AngelList model and these include – LetsVenture and recently-launched TracxnLabs, a part of startup data collector Tracxn.
Before targeting India, AngelList also launched its UK syndicate counterpart in February this year where the syndicate allows individuals to co-invest with early investors in successful billion dollar European startups. UK residents who invest can take advantage of tax breaks through government backed incentives such as the Enterprise Investment Scheme. However, the European regulatory environment has made it difficult for the UK counterpart to operate as the platform planned.