With the Government of India recently unveiling the Startup India Seed Fund Scheme to financially support early stage Indian start-up ventures, a bunch of ISB alumni have followed suit, announcing a micro VC Fund and syndicate – Atrium Angels that is focused on providing pre-seed and seed stage capital to startups with at least one co-founder from the Indian School of Business. This one-of-its-kind fund has been set up by three ISB alumni – Abhishek Nag, Director of Business Development at Netflix, Umang Kumar, Co-Founder & President at CarDekho, Varun Laul, Head of Digital & Technology Investments at Investcorp India.
The platform goes beyond just investing capital but will also help founder’s access the know-how and networks of the Atrium Angels LP network and the broader ISB Alumni Community. Atrium Angels plans to make 12-15 pre-seed investments over 18 months.
Around 29 ISB Alumni with a healthy mix of seasoned startup investors, including Ramakant Sharma (Co-founder and COO of LivSpace), top technology executives like Rohit Kapoor (CEO, India and SEA, Oyo), and entrepreneurs like Aman Gupta (co-founder and CMO at boAt) have contributed to the fund.
With a strong network of co-investors like Chiratae Ventures, Roots Ventures and Velo Partners, Atrium Angels has already made three investments in Goodmeetings, FanPlay, and StockGro.
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Speaking on the launch of the fund, Abhishek, Umang, and Varun, founding team of Atrium Angels said, “ISB alumni have started a number of very successful startups in the last decade, like OfBusiness, LivSpace, MindTickle, MyGate, boAt, 91mobiles, Moglix, Lendingkart, UpGrad. The list is long. We estimate that 10% of all ISB alumni are starting up their own ventures. We aim to be the first port of call for all ISB founders, and hope to leverage the entire ISB network for these founders.”
