While Bengaluru might be holding the crown of being India's startup capital for quite a long time now, but it has unfortunately lost out on being crowned as the number one destination for India's angel investors. According to data made available by a study done by LetsVenture, an angel investing platform, Mumbai, the financial capital of India, houses the maximum number of angel investors in the country.

The study reveals that out of the total 1,800 angels in the country, the Mumbai-Pune belt is home to about 332 angel investors. This is followed by Bengaluru with 298 for the second position and DelhiNCR is a close third with 285 angel investors.

In addition to the numbers, the study also revealed several other interesting facts about angel investors in India. According to it, when compared to their United States counterparts, Angels in India do lesser due diligence and have a pattern of being Sector-Agnostic.

The findings reveal that angel investors in India end up spending only 4 to 10 hours in doing a due diligence of the startup that they are planning to invest their money in, whereas US investors dedicate around 20 hours on an average for the same. The study also talks about how Indian angel investors often schedule their meetings with entrepreneurs without any prior intimation, while their US counterparts holds their meetings twice every month, and they're planned much in advance for everyone's convenience.

India with its 1,800 angels forms just a fraction of the US's tally of around 300,000 angel investors. These figures strongly indicate that India's angel investing ecosystem is still in its beginning stage and has a long way to go. Though the figures don't look so faltering right now, they do offer a promising future ahead. This becomes almost double sure as last year saw the number of angel deals almost doubling to 691 from just 370 deals in the year 2014.

The LetsVenture report also predicts that 2016 will witness a number of bridge rounds, which is a round of funding that takes places between between the seed round and a full-blown Series A round. According to the report, we will be able to see a number of angels enthusiastically participating in these bridge rounds.

The report also talks about the huge disparity between the US and Indian startup industry regarding the exit procedure. Unlike in the United States, Indian angel investors have to play a waiting game for M&A opportunities or follow-on investments instead of an IPO to get an exit from their startup investments. Majority of the US based angel investors are provided with an opportunity to exit the startups within 3.5 years of their investment. But, an exit in the Indian subcontinent is highly unlikely.

]Top Image Source: Shutterstock ]

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