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Native Angels Network to invest in Tamil Nadu based 30 startups.

Native Angels Network (NAN), which has tied-up with Infuse Ventures, an early-stage venture capital (VC) fund and Unitus Seed Fund that invests in social enterprises, would invest in 30 start-ups in the current financial year.

NAN, an investment facilitation wing of the Madurai-based Nativelead Foundation that provides a platform for local high net-worth individuals (HNIs) to invest in young start-up companies, has already made three investments. The network, which already has 100 investors, 40 of them from Coimbatore, would launch its chapter in the city in July.

Explaining how the angel investor network would work, Mr. Prashanth said that a group of six to 10 regional investors would be led by a lead investor and each would look at supporting two to three start-ups from this region every year. “We suggest that an investor brings in at least Rs. 5 lakh a year. However, the investment will vary depending on the start-up, its potential and fund requirement,” he said.

The average investment in each unit will be Rs. 5 lakh to Rs. 50 lakh and it can go up if there is scope for tremendous growth.

 

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