​Hyderabad Angels to invest Rs 6Cr in Five Startups

Image Source: Facebook/Hyderabad Angels

Image Source: Facebook/Hyderabad Angels

Hyderabad Angels (HA), one of the growing Angel networks in the country, has announced a fresh investments to a tune of Rs 6 crore in five different startups.

Currently, 65 investors form part of Hyderabad Angels. Pradeep Mittal, Chairman Hyderabad Angles said, more than 40% of investors have committed multiple investments.

Detailing the investments so far and the deal pipeline P S Sreekanth, Investment Director, HA said, “we have invested ~ Rs 15 crores across eleven startups in the last four years. Our current portfolio of eleven companies is a fair mix of B2B and B2C businesses and covers a range of industry verticals. Some of our portfolio companies include: GIBSS, Thrillophilia, Online Prasad, NowFloats etc.”

In the first 5 months of this year (Jan till May), the firm has Rs 6 crores of investments in the pipeline as it already issued term sheets to three companies and are in the process of issuing two more term sheets in the coming week.

Three of HA’s portfolio companies have successfully raised their next round of funding. And, by end of this year, close to 50% of its current portfolio companies would have raised their next round of funding, added Daggubati Suresh Babu, Vice Chairman, HA.

Hyderabad Angles investors are venture capitalists, entrepreneurs and business leaders. Besides Pradeep Mittal, the Chairman and Daggubati Suresh Babu, the Vice Chairman of the Board, other Directors on the Board include Srini Raju and B V R Mohan Reddy among others. The firm invest between $250,000 – $1 million, and it also does seed investments on a selective basis.

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