Indian Angel Network (IAN), a national network of angel investors investing in startups and early-stage ventures, has formed a sub-group called IAN Impact, which will focus on social enterprises addressing the problems of people living at the bottom of the pyramid.
IAN Impact will put in up to Rs 2 crore ($333,000) in six early-stage companies per year, its member Nagaraja Prakasam told Techcircle.in.
“This is a sub-group of around 50 IAN members. We have already invested in Delhi-based Gram Vani and are now looking to invest in a total of six firms in the next 12 months. The pipeline is pretty strong and we have given term sheet to one more company. However, we can’t disclose the name yet,” said Prakasam.
To read the full article as it appears on the tech circle website click here.