Angel Groups in India: A Comprehensive Guide

Angel groups in India have gained significant traction in recent years, with a growing number of investors pooling their resources to fund startups. They have invested in over 1,000 startups across various sectors, including e-commerce, fintech, and healthcare.

Angel groups typically consist of 10-20 high net worth individuals who invest their own money in startups. They often have a shared vision and goals, which helps to streamline their investment process.

Some angel groups in India have a minimum investment amount of ₹1 lakh (approximately $1,300 USD), while others have a higher minimum investment threshold. This allows them to support a wide range of startups, from early-stage to growth-stage companies.

Angel groups often provide more than just financial support to startups, they also offer valuable network connections, mentorship, and guidance.

For your interest: Angel Investment Opportunities

The Indian start-up ecosystem has undergone significant changes in the past five years, with the emergence of accelerators and incubators, as well as regional angel networks.

The number of regional angel networks has mushroomed rapidly across the country, with hundreds of networks coming up since the start-up India initiative was flagged off in 2016.

In fact, regional angel networks are slowly adopting a more professional, pan-India approach, with some networks expanding their focus area to include other smaller cities in the country.

A fresh viewpoint: Angel Networks the Chosen

Venture Catalysts was founded in 2016 by Anil Jain, Anuj Golecha, Apoorva Ranjan Sharma, and Gaurav Jain.

It has investments in 176 startups, with a combined value exceeding $3 Bn.

The angel network made its latest investment when BASIC Home Loan raised $4.7 Mn in a pre-Series B round led by stock market investor Ashish Kacholia.

Venture Catalysts' portfolio includes names like AgriGator, Airmeet, Ai Highway, Beardo, BharatPe, Betel Leaf, Brew House, BluSmart Mobility, Clout Loot, and Desi Farms, etc.

Its focus on investing in startups has helped it achieve significant returns, with a combined value exceeding $3 Bn.

Recommended read: Cleantech Venture Capital Funds

The Indian start-up ecosystem has undergone a significant transformation in the past decade. One of the key drivers of this change has been the emergence of angel groups and networks that provide vital funding and support to early-stage startups.

In 2018, AngelList India entered the Indian market, backed by 500-plus Indian startups, including BharatPe and Dealshare. The network's objective is to maintain a high benchmark of inviting investors with considerable prior investment experience and domain expertise.

Since 2020, We Founder Circle (WFC) has been growing rapidly, with a base of over 9,000 investors and participation in over 100 investment deals. The network has footprints in multiple countries, including the US, UK, Singapore, and Australia.

Indian Angel Network (IAN) was founded in New Delhi in 2006 by Saurabh Srivastava, Padmaja Ruparel, and Raman Roy. The network has invested in companies like PregBuddy and SuperProfs, and has members from 11 countries.

In 2012, ah! Ventures was founded by Abhijeet Kumar and Harshad Lahoti, with a network of over 62,000 entrepreneurs and 3,000 investors. The network has made 183 investments in 121 startups, with a total investment portfolio of $47 Mn.

Related reading: Indian Angel Network

LetsVenture, established in 2013, claims to have made over 950 investments with a portfolio value of over $11 Bn. The network has 19,530 investors and has collaborated with the Indian Ministry of Electronics and Information Technology (MeitY) to invest in early-stage startups.

Here's a brief overview of some of the prominent angel groups in India:

In the past five years, the Indian start-up ecosystem has witnessed the birth of several accelerators and incubators, along with many regional angel networks. The ecosystem has seen a significant growth in the number of startups, with hundreds of networks coming up since then.

The Indian Angel Network (IAN) is a group of primarily Indian angel investors funding early-stage startups. It was formed in 2006 by Alok Mittal and Padmaja Ruparel. The network has made 198 investments, led 98 rounds, and made 14 exits.

IAN is a SEBI-registered early stage fund with more than 470 investors from around 11 countries. These investors look forward to investing in startups from several industries such as agriculture, ecommerce, education, hospitality, internet, gaming, retail, and semiconductor, among others.

Curious to learn more? Check out: Angel Investors in India

One of the key benefits of IAN is that it provides constant access to high quality mentoring, vast networks and inputs on strategy as well as execution. This is a huge advantage for startups looking to grow and succeed.

IAN has invested in companies such as PregBuddy and SuperProfs. In 2018, one of its founder Padmaja Ruparel was ranked amongst Fortune (magazine)'s list of The Most Powerful Women in India.

Here are some key statistics about IAN:

IAN's success has inspired other regional angel networks to adopt a more professional, pan-India approach. For example, the success of Surat Angels encouraged Singhvi to co-found ‘We Founder Circle’ last year to expand his focus area to include other smaller cities in the country.

Calcutta Angels is a notable angel network in India, established in 2013 by Kumar Patodia, Pradyumna Dalmia, and Raghav Kanoria.

Their portfolio boasts 17 startups, with investments that are stage and sector agnostic. This means they invest in startups at various stages and across different sectors.

Some of their notable investments include MCaffeine, LetsMD, and Tabsquare. These startups have likely benefited from the network's expertise and resources.

Mumbai Angels is another prominent angel network in India, focusing on early-stage venture investing. They have a wide range of sectors in their investment scope, including technology, consumer, and life sciences.

Their partnership with Calcutta Angels in 2018 aimed to offer best practices, learning sessions, and active portfolio management to their combined network. This collaboration has likely strengthened their investment capabilities.

Curious to learn more? Check out: Hyde Park Angels

Startup Funding in India has become much more accessible in the past five years. Hundreds of networks have come up since then, making it easier for entrepreneurs to find seed capital.

India is one of the fastest-growing large economies in the world, with rising consumption driven by increasing incomes and an aspirational upper-middle class segment. This growth has created a demand for digital innovation, which is being met by start-ups.

The NRI Angels is an Angel Network for Non-Resident Indians (NRIs), People of Indian Origin (PIOs), and Overseas Citizens of India (OCIs).

It's present in 56 cities across 15 countries, with a base network of StartupLanes investors from all around the world.

NRI Angels understands the needs of NRIs, PIOs, and OCIs and provides necessary compliances for investing in Indian startups.

Additional reading: Business Angel Network of Southeast Asia

NRI Angels is based in Panaji, Goa, India. This is a specific fact that highlights the physical location of one of the angel groups mentioned in this article.

The NRI Angels network is specifically designed for Non-Resident Indians (NRIs) and People of Indian Origin (PIOs) living abroad. It's a unique platform that understands the needs of these groups and helps them navigate the necessary compliances for investing in Indian startups.

NRI Angels has a strong presence in 56 cities across 15 countries, making it a truly global network. This is made possible through the base network of StartupLanes, which has investors from all around the world.

The NRI Angels network is an angel network for NRIs, PIOs, and Overseas Citizens of India (OCIs), providing them with a platform to invest in fast-growing startups through SL Angels. This network stands out from the crowd due to its in-depth understanding of the needs of its members and the necessary compliances required for investing in Indian startups.