Indian Angel Network to make first UK investment

Indian Angel Network (IAN), an investor in new and early stage ventures, is set to make an investment in UK start-up SwiftShift, a provider of software solutions, the British High Commission said.
"We are delighted to have decided on our first UK investment and we believe that SwiftShift's product will be sold around the world," the British High Commission said in a statement, quoting Saurabh Srivastava, co-founder of IAN.
The statement did not mention the amount to be invested.
London-based SwiftShift has developed a software solution that allows companies to quickly fill short-notice shifts using their own staff through SMS, e-mail and mobile technology.

IAN is Asia's largest angel network of over 250 investors comprising entrepreneurs and CEOs spread across 10 countries, the statement said.
The network looks at investing up to USD 1 million, with an average of about USD 400,000 to 600,000, and exiting over a three to five year period through a strategic sale, according to the IAN website.
Indian firms are now the fifth-largest investors in the UK and more than 50 per cent of Indian investment into Europe goes to the UK, the high commission statement said.
Audit and tax advisory firm KPMG said it is becoming a corporate partner and will provide support services for IAN in the UK.