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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

stocks, india inc, stock option, markets, trading, investment, stake, psu, disinvestment, selling, employees, workers, shares, company, firms, BSE, exchange, earnings, results, profit, loss, dividend payout, tax

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Illustration: Ajay Mohanty

3 min read Last Updated : Jan 18 2023 | 6:15 AM IST

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.