Band Of Angels Renames As "Indian Angel Network"; Goes National
Sat, 08/11/2007 - 02:13 — Sahad P V
Delhi-based Band of Angels is going national. Its first step was to rename itself as Indian Angel Network. It has got a new website URL too - IndianAngelNetwork.com. Padmaja Ruparel, the executive director of Indian Angel Network, told VC Circle that they have launched operations in Bangalore already. Their next target is Mumbai, and will spread to other cities too, truly making it a national angel network.
When asked if there was any pressure from the original Band Of Angels in Silicon Valley about the name, Ruparel replied in the negative. However, she said it was likely many (potential) members got confused with the identical names. She said the idea was that they wanted the organisation to get a "pan-India" character. Moreover, it's actually a network and not a fund as many entrepreneurs confuse it to be.
The network currently has some 60 members like Jerry Rao, Saurabh Srivastava, Pramod Bhasin, Raman Roy, Rajiv Luthra, Pradeep Gupta, Alok Mittal, Ranjit Shastri and so on. It also has institutional members like IBM, SIDBI, Naukri, Greylock Partners, and Google.
The network has so far invested in seven companies.
Another prominent angel investing group is Mumbai Angels. They are however focused on investing in early stage companies in Mumbai.
