Shriram group mulls angel funding entry

Written by fe Bureau | Chennai | Updated: Jan 17 2013, 08:45am hrs
The Rs 60,000 crore Shriram group is planning to enter the angel venture capital business as part of its financial services business expansion. The company is charting out the strategy and hope to finalise details in next few months, said Arun Duggal, the chairman of Shriram Capital Limited, the holding company of all financial services of Shriram group.

Disclosing this at an interactive meeting with presspersons on Wednesday to announce the groups decision to institute awards for excellence in financial journalism, Duggal said: As part of our promoter R Thyagarajans ambition to provide inclusive growth, the group is looking at entering into venture capital/Angel funding business in near future and the plans are at drawing board level.

Known for chit funds, consumer financing, commercial vehicle financing over the years with an established platform across the country, the group seeks to serve budding entrepreneurs with innovative ideas, business plans and creativity by funding in early stages to scale up business prospects, Duggal said.