AngelList, a US-based platform that helps connect companies with investors, has announced the launch of its own venture fund in India called ‘The Collective‘ and the India-dedicated fund has got the backing of some stellar names including Flipkart co-founder Binny Bansal.
Notably, India will be the first market outside of the US to get such a fund.
The fund will deploy $150,000 (about ₹1.03 crore ) each across 60-80 companies annually and will give access to quick capital to its Syndicate leads. Since the launch of AngelList India Syndicates a year ago, the platform has had 15 syndicate leads and invested over $5 million across 50 Indian startups like BharatPe HalaPlay, Yulu Bikes, Open Bank.
The Collective brings additional capital and advice from experienced investors like Salil Deshpande (Bain Capital Ventures), Avnish, Tarun, Vikram (Matrix Partners India), Binny Bansal (Flipkart), Navroz Udwadia (Falcon Edge Capital), Rahul Mehta (DST Global) and prominent funds like Kalaari Capital, FJ Labs, Beenext and others.
Syndicate leads can access up to $150,000 in additional capital per deal from The Collective. The instant access to capital enables leads to focus on what they do best — using their judgement and access for allocations in the best Indian startups.
In January of last year, AngelList introduced Syndicates to the Indian market. Syndicates lets investors team up with like minded people and pool funds for investments in startups.