Group of angel investors launch online mentoring and funding platform VentureFund.com

Created on: 05/18/2012 - 17:22

A group of angel investors, including Google India Managing
Director Rajan Anandan, has come together to launch an online mentoring and funding
platform VentureFund.com, with an initial corpus of $100 million. The founding
team members include Lord Alli, Co-Founder and Chairman of Asos.com, Ashok
Kurien, Director in the Board of Zee TV, Sun TV and Playwin, and Paul Shoker, a
serial investor who has interests in Indian ventures such as thePrivateSales.com
and Koovs.com

Though the platform would be free for investors,
entrepreneurs would have to pay a one-time fee of around $100 (about Rs 5,400)
after being contacted by a prospective investor. Shoker would lead the fund as
its vice-chairman. Anandan, also a member of the Indian Angel Network, is part
of the venture in his personal capacity.

 “There
was no authentic platform from where you could get details about start-ups,”
Shoker said. He was quick to spot this problem and wrapped an online solution
around it, in the form of the VentureFund platform. The response we have had
from entrepreneurs and investors clearly demonstrates that we are building upon
a need to help the start-up community to get their ideas off the ground and
succeed. Within six weeks, we have been able to get $100 million,” said Paul Shoker,
adding that by the end of the year, they expect VentureFund to be a
$500 million fund.

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