YourNest Angel Fund, an incubation and early stage venture capital fund, was founded by former Bharti Teletech CEO Sunil K Goyal and Sanjay Pande, a mentor with more than 20 years of experience, and Girish Shivani, a former executive of Bharti Airtel who also had a stint with the private treaties unit of Bennett, Coleman & Co. Ltd. last December.
The early stage venture capital firm is looking to raise Rs 120 crore from limited partners or institutional investors. It has plans to invest Rs 70 crore in the next two-three years in 12-20 companies. The firm's LP base currently comprises high net worth individuals and is planning to rope in more institutions on board.
YourNest has also partnered Kae Capital to be a part of VentureNursery' Charter Angels programme. The programme aims to provide a platform for graduating startups, to assist them to pitch for mentoring and seed funding by seasoned and active angel investors. YourNest has also shown interest in picking up startups from these kinds of accelerator programmes.
The VC fund will typically spend Rs 3-5 crore and a maximum of Rs 9 crore in subsequent rounds of funding.
The fund has recently invested in a Noida-based Proof of Performance Data Services Pvt Ltd (PoP), which offers insights to marketers based on the video analytics derived from real-world video. The company is to make its second investment announcement soon.
Techcircle.in caught up YourNest Angel Fund's Goyal and Shivani, who spoke about the YourNest investment plans, the type of companies they are looking at, expansion and consolidation plans and also on the startup scenario in India.