The next fund target is above Rs 1,000 crore ($159m) and will be committing funds raised to start-ups, an area of the venture capital market that High Net Worth Individuals and family offices are interested to get access to due to favourable regulation and the promise of healthy returns.
“The year 2014 is the starting point for rupee funds. They will be a major factor in the success of Indian technology firms,” said Sudhir Sethi, founder-chairman and managing director of IDG Ventures India. He declined to discuss further details citing confidentiality agreements with investors, according to India news source The Economic Times.
The number of angel investors in India backing India start-ups has grown at an impressive rate. And of the estimated 5,000 angel investors backing young ventures in India the majority of them are not even members of networks such as Indian Angel Network or Mumbai Angels. They operate very discreetly, according to Sethi. The number of angel investors in India just six years ago was about 200.