Indian Angel Investment Group Formed

Rediff: A bunch of professionals-turned-entrepreneurs have quietly joined hands to float the Band of Angels, a loose association that is looking to fund new ventures at the earliest stage. These include BPO evangelist Raman Roy, Xansa’s and Indian Venture Capital Association’s chairman Saurabh Srivastava, Digital Globalsoft’s CEO Som Mittal, Mphsasis BFL’s CEO Jerry Rao, Flextronics Software Systems’ managing director Arun Kumar, Jobsahead’s co-founder Alok Mittal, Naukri.com’s co-founder Sanjiv Bhikchandani, Escorts Hospitals’ head Naresh Trehan, Cyber Media’s Pradeep Gupta, Lawyer Rajeev Luthra, India Abroad’s founder Gopal Raju, and US-based entrepreneur Sanjay Bhargava.
The association will soon have 25-30 members, each of who will be required to make a contribution of Rs 50,000 to Rs 1 lakh towards the running of the Band’s secretariat, to be managed by Infinity Venture Fund’s principal, Rishi Sahai, and a firm commitment to invest in a venture, whichever appeals to them.

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