A community of early-stage angel investors InnerWave Ventures today said it is planning to invest in 18-20 start-ups in next three years in the range of Rs 1-1.5 crore. Currently, InnerWave Ventures, which is managed by corporate advisory firm InnerWave, consists of 32 angel investors which are looking to help start-ups in need of additional capital.
“A lot of the angels have built up their own businesses and may be sold them or are in a semi-retired stage and they want to pass on the knowledge that they’ve picked up,” InnerWave Ventures co-founder Varun Dhingra said.
InnerWave Ventures said it will also be adding more angel investors to its network who are looking to invest in pre- screened start-ups. “The investment can come from a single angel or a group and it can range anywhere from Rs 1 crore to Rs 1.5 crore,” InnerWave co-founder Jatin Tehri said.
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Start-ups looking for funding will have to pass through a pre-screening process before meeting the anchor investors. Post that, the anchor investors will lead the funding process.