Hyderabad Angels (HA), a network of angel investors focused on early-stage businesses, is readying fresh investments to the tune of Rs 6 crore in five different startups, according to its chairman Pradeep Mittal.
“The network has seen a year-on-year growth of 20 per cent, and expects this growth to double this year with more than 40 per cent of the investors committing multiple investments,” he said in a release on Monday.
Hyderabad Angels, which has 65 investors, has invested Rs 15 crore across 11 startups in the last four years, including in GIBSS, Thrillophilia, Online Prasad and NowFloats. Its portfolio has a mix of B2B (business-to-business) an B2C (business-to-customer) businesses.
“In the first five months of this year (January till May), the network has Rs 6 crore of investments in the pipeline as we have issued term sheets to three companies and are in the process of issuing two more in the coming week,” said PS Sreekanth, investment director at HA.
Stating that Hyderabad Angels is sector-agnostic and typically invests between $250,000 and $1 million in startups that have an asset-light and scalable business model and in those that have some revenue and customer traction, Sreekanth said HA was working closely with other angel networks, early-stage VCs, online syndication platforms, accelerators and incubators to pursue investment opportunities.
According to Daggubati Suresh Babu, vice chairman of Hyderabad Angels, so far three of the network’s portfolio companies have raised their next round of funding. “We expect that close to 50 per cent of our current portfolio companies would have raised their next round of funding by the end of this year,” he said, adding HA was currently working on its first exit.