SEBI approved Kerala's Start-up Village Angel Fund of 10 million Dollars

Market regulator SEBI in May 2013 had approved an angel fund of 10 million Dollars to address the problem of resource crisis for start-up companies across the country.

The fund could go up to 20 million dollars with an over-allotment option that would focus on telecom and internet firms. The Fund is supposed to  start investing once the initial close of 2 million Dollars is achieved.

Consultancy KPMG is the advisor and ILFS is trustee of the fund based at Start-up Village which is the country's first telecom incubator.

About Village Angel Fund

• The angel fund will be investing not only in the most promising start-ups located in Start-up Village but also in similar enterprises across the country.
• Infosys co-founder and Start-up Village chief mentor Kris Gopalakrishnan, MobME, the country's first campus telecom start-up, Ravi Pillai, founder of the.16000-crore Rupees Bahrain-based RP Group and other leading angel investors in India will be part of the fund.
• The Village angel fund will act like a shot in the arm for Start-up Village, which would become the first incubator in India to have its own in-house fund.
• The fund will help the internet-telecom incubator to get the most conducive ecosystem for product start-ups.