Indian Angel Network
The Indian Angel Network, Asia’s largest angel investors network, has set up a social impact funding arm, IAN Impact, to provide seed capital for social enterprises.
IAN Impact is being led by a core group of active angel investors including Saurabh Srivastava, Alok Mittal, Srikant Sastri, Ravi Krishnappa, Nagaraja Prakasam and Sadeesh Raghavan.
Srivastava said: “Leveraging innovation and entrepreneurship will bring a paradigm change to the lives of two thirds of our citizens but with successful angel investors coming in, we will bring strategic guidance, operational direction and financial investment to each such venture.”
IAN Impact made its first investment this month in Gram Vaani, a social technology venture, which has set up social media networks in India, Afghanistan, Pakistan and Namibia. People can share content via mobile phones, radio and the internet. It already has two million users and has helped to bring about social change, expose corruption and deliver health messages.
Sadeesh Raghavan said Gram Vaani’s co-founder, Aaditeshwar Seth, “is a passionate entrepreneur, focused on building a high a quality company. He has not only built a technology that is the foundation for a large scaleable business but also impacts the lives of its users.”