Angel network invests in i-bank

Indian Angel Network (IAN) has announced an investment into Viedea Capital Advisors, a Bangalore-based boutique investment bank focused on early and growth stage companies. According to IAN, close to nine angels from the network have invested in this firm.

IAN is the first pan-India angel network with successful entrepreneurs and CEOs investing in early stage businesses across India. Usually, angels invest up to a $1 million in a start-up. The network has 65 members currently who have made 10 investments in the last couple of years.

Said Deepak Srinath, director, Viedea: "The early-stage fund raising segment is underserved. Venture capitalists are hard pressed for time. We handhold many such start-ups, prepare business plans and then present to the VCs. This is our USP, so to say."

Viedea started operations during early last year and has so far completed three deals and has seven more in the pipeline. According to Viedea officials, they have operating experience in mobile value added service, retail, IT, ITeS and lifesciences.

According to independent research, little more than half a billion dollars was invested through the venture capital route and is expected to scale up this year.

"The mid-market companies seeking to raise $1 million to $10 million are looking for organised players and Viedea fits in this play," Rajan Anand, a member of IAN and also VP of Dell India said.