AVCJ

Mayfield backs Indian Incubator AngelPrime

  • Andrew Woodman
  • LinkedIn  
  • Google plus  
  • Save this article  

Mayfield Fund will take a majority interest in AngelPrime, a Bangalore-based incubator. The investment will be used to support operations as well as seed capital for companies that AngelPrime plans to incubate over the next three years.

Mayfield did not disclose the size of its investment, but according to Reuters the overall size of AngelPrime's incubator fund is less than $10 million.

AngelPrime will work closely with entrepreneurs to incubate companies, provide hands-on mentoring, seed capital of approximately $200,000-500,000, and a co-working facility in Bangalore. It has incubated three companies in the past two years including ZipDial, Ezetap and Unamia, and plans to incubate another three per year.

"We believe that a ‘global playbook' approach to investing which identifies trends that work across borders but are customized to specific geographies and will yield several industry-leading companies out of India," said Navin Chaddha, managing director of Mayfield, in a statement. "But it will require heavy lifting at the earliest stages from an experienced and passionate team such as the one at AngelPrime."

  • LinkedIn  
  • Google plus  
  • Save this article  

More on South Asia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs