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May 07, 2013

Fund Alert: Startup Village gets SEBI nod for $10-M angel fund

Kochi-based Startup Village, the telecom sector focused start-up incubator promoted by the central government’s Department of Science and Technology, Technopark Trivandrum and MobME Wireless, has received market regulator SEBI’s approval for its $10 million angel fund, with a greenshoe option to increase the corpus to $20 million. It will invest between $20,000 and $250,000 per company. 

The proposed fund will start investing in telecom and Internet companies once $2 million is raised as part of its first close. KPMG and ILFS are advisor and trustee to the fund respectively. Infosys co-founder and Start-up Village chief mentor K Gopalakrishnan, mobile VAS startup MobME, Ravi Pillai, founder of the Rs.16,000-crore Bahrain-based RP Group and other angel investors will be part of the fund. 

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