YourStory: March 26, 2012
YourNest Angel Fund, a SEBI registered venture capital fund, in its first close announcement today, has built its initial corpus from nearly 40 angel investors and mentors. The fund is looking to raise Rs 100 crore in the coming two years. Some of these angels are first generation entrepreneurs while some are professionals from diverse verticals like Telecom, Information Technology, Infrastructure, E-Commerce, Financial Services, Private Equity, FMCG, Education and others.
“First generation entrepreneurs are nurturing high quality ideas. Their confidence demonstrates –‘Small is the next big thing’ for us to invest in. YourNest supports such breakthrough ideas coming from an entrepreneurial team, who can surprise us with their execution skill and path breaking use of technology.” said Sunil Goyal, CEO & Fund Manager – YourNest Angel Fund.
YourNest has put together a distinguished advisory board to guide and mentor the investment management team and act as a conscience keeper for the Angel Fund. The advisory board includes:
- Badri Agarwal, a philanthropist and a senior board level corporate and management resource
- Prof M M Pant, former Pro-Vice-Chancellor, Indira Gandhi National Open University
- Alok Mittal, Managing Director, Canaan Partners
- R Satya Narayanan, a first generation entrepreneur who founded Career Launcher
YourNest strives to offer support, constant guidance, handholding, expertise in business strategy, and access to a wide network for entrepreneurial growth – besides funds. More details about which can be obtained on their site.