360 ONE acquires controlling stake in Mumbai Angels, announces 2 new funds

Both funds will focus on early-stage start-ups

Aryaman Gupta New Delhi
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Illustration: Ajay Mohanty

Wealth management firm 360 ONE has acquired a controlling stake in Mumbai Angels, an angel investment platform focused on early-stage start-ups. With this acquisition, the investing platform has also announced the launch of two new funds – Category 1 Venture Capital Fund - Angel Fund, and Category 1 Venture Capital Fund (VCF).
The former is a Rs 1,000 crore fund, with a green shoe option of an additional Rs 200 crore. The latter is a Rs 300 crore fund, with a green shoe option of another Rs 200 crore. Both funds will focus on early-stage start-ups.
“Our strength is early-stage and we do not plan to vacate that space. We will continue to invest in this segment. With this recent acquisition, we now have the ability to fund a start-up from the seed stage all the way to the IPO stage,” said Nandini Mansinghka, chief executive officer, Mumbai Angels.

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First Published: Jan 18 2023 | 6:15 AM IST

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