Hyderabad Angels to invest Rs.6 crore in five start-ups

Hyderabad, June 29 (IANS) Hyderabad Angels (HA), one of the largest angel investors in the country, on Monday announced fresh investments to a tune of Rs.6 crore in five different start-ups.

HA, which has so invested Rs.15 crore across 11 start-ups, expects the growth to double during this year from existing current level of 20 percent.

Currently, 65 investors form part of HA. Pradeep Mittal, chairman, HA said more than 40 percent of investors have committed multiple investments.

“Our current portfolio of 11 companies is a fair mix of B2B and B2C businesses and covers a range of industry verticals. Some of our portfolio companies include GIBSS, Thrillophilia, Online Prasad, NowFloats,” he said.

Well-known filmmaker Daggubati Suresh Babu, who is vice chairman of HA, said HA’s portfolio companies were doing well which is evident from the fact that so far three of the portfolio companies have successfully raised their next round of funding.

“We expect that by end of this year, close to 50 percent of our current portfolio companies would have raised their next round of funding,” he said.

Hyderabad Angles investors are leading venture capitalists, entrepreneurs and business leaders. Besides Pradeep Mittal and Suresh Babu, other directors on the board include Srini Raju and B.V.R. Mohan Reddy.

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