THE Chennai Angels, amongst India’s most successful and oldest angel networks and LetsVenture – India’s largest online marketplace for startups and deal syndication have partnered with each other.
Through this partnership they aim to bring together the strengths of both the networks, TCA’s commitment to make their portfolio companies successful and LV’s deal flow.
The Chennai Angels is more than 10 years old network with more than 100 Angel Investors from Chennai and beyond (the Who’s Who of Business, Corporate and Entrepreneurial Success Of Tamil Nadu). Their portfolio comprises of 32 companies from across sectors with multiple successful exits. TCA’s main focus has been to work with their portfolio companies and make them successful.
LetsVenture, since its inception in 2013, have enabled more than 154 deals, out of which, 25 have gone on to raise next rounds of funding.
Commenting on the development, Sameer Mehta (TCA executive committee and director of Dr Mehta’s Hospitals) said, “LetsVenture have high quality deal flow from different parts of India, while TCA is exceptionally strong in South India. Further TCA has a strong track record of investee company growth in areas beyond technology and digital like manufacturing, energy, chemicals, finance and services which will broaden LV syndicate capability”.
Shanti Mohan, founder of LetsVenture stated, “This engagement has a great significance as offline network meets the online network. It’s a leverage on both sides – TCA investors are very experienced and credible – this partnership will bring high quality investors who are also entrepreneur-friendly, which aligns very well with our core beliefs. We believe this partnership will also help strengthen the deal flow.”
Shankar V (TCA executive committee and founder of CAMS and Acsys Technologies) said, “The partnership between LetsVenture and The Chennai Angels is win-win for both parties. Based on a shared set of values and objectives, the partnership will enormously benefit the Indian startup ecosystem by bringing to bear the mentoring and funding ability of TCA with the disciplined process driven approach of LetsVenture.”
Both TCA and LetsVenture look forward to many successful entrepreneurs as the outcome of this partnership.