Now we have another portal for matchmaking! But this time, there is no promise of finding the right life partner. The promise is to find the right investors or to see it from another point, the right business for investing.
Venturefund.com has been founded with a goal to connect angel investors with start-up entrepreneurs, reports Business Standard. The fund is now worth $100 mn but aims to reach $500 mn in next six months.
The idea first came to Paul Shoker, a serial investor who has interests in Indian ventures such as thePrivateSales.com and Koovs.com. Shoker could not find any appropriate platform to identify and get in touch with suitable start ups when his son wanted to invest in one.
Now, the portal has a group of investors which includes Google India Managing Director Rajan Anandan, Lord Alli, co-founder and chairman of www.asos.com and Ashok Kurien, director in the boards of Zee TV, Sun TV and Playwin.
BS reports the portal will also act as an e-commerce platform as it has tied up with Amazon.com to prepare a list of books.
India was the fastest-growing private equity market in Asia in 2011. PE firms in the country closed 531 deals 40 percent more than the year before. But exits have come down over the last year. If market and investment conditions improve, one could see more exits this year and the next due to many investors stuck since 2007.
Updated Date: Dec 20, 2014 08:29 AM