Mumbai-based angel network Lead Angels has opened its Delhi chapter and plans to facilitate funding for around five startups from the region on a yearly basis, Sushanto Mitra, CEO of the angel network told Techcircle.in. Typically, Lead Angels invests Rs 1 crore in technology startups.
The angel network's Delhi members include Aseem Chauhan, chancellor of Amity University; L Subramanyan, founder and CEO of Trivone Digital; and Rahul Gupta, an angel investor.
The network has been operating for close to a year in Mumbai and Ahmedabad, and has already invested in two startups, whose names remain undisclosed.
Founded by the trio, C Amarnath, a retired professor of mechanical engineering from IIT Bombay; Mitra, ex-CEO of Society for Innovation & Entrepreneurship at IIT-B; and a recent IIT-B graduate Bipin Kumar, Lead Angels mainly invests in startups that are founded by IITians. The network has over 50 members including successful entrepreneurs and professionals, many of whom are alumni of premier institutions like IITs, IIMs and BITS.