Two Tamil Nadu angel networks join hands to fund startups in the state

Both networks will coordinate and plan common pitch sessions on a case-by-case basis, will also support startups in select activities

Two angel networks based out of Tamil Nadu, the Chennai Angels (TCA) and Native Angels Network (NAN), have joined hands to invest in startups based in the state.

Both networks will coordinate and plan common pitch sessions on a case-by-case basis. The networks will not only fund but will also mutually support startups for select activities. The intention is to ensure that Tamil Nadu-based enterprises reach out to a larger number of investors relevant to their industries.

K Chandran, chief executive officer, The Chennai Angels said, “The coming together of two of the largest leading angel networks in Tamil Nadu is certainly a landmark initiative. This will benefit promising start-ups across the state gain access to a huge pool of elite mentors and capital for scaling up their early stages of growth. We look forward to a fruitful and rewarding partnership with the Native Angels Network.”

In an effort to help a new generation of entrepreneurs, a group of prominent entrepreneurs came forward to form a consortium called The Chennai Entrepreneurship Trust Fund in November 2007, which is now The Chennai Angels (TCA). As of today, TCA has invested over Rs 130 crore across over 60 startups.

R Sivarajah, Founder and chief executive officer, Native Angels Network said, “We are mainly concentrating in investing in early-stage start-ups emerging from small towns of Tamil Nadu. The association with The Chennai Angels will enable us to explore newer horizons in investing. This partnership will strengthen the investment ecosystem in Tamil Nadu.”