Indian Angel Network seeks UK startups

The New Dehli-based Indian Angel Network, a startup funding organisation, has opened a chapter in the UK, according to a statement.

IAN is a group of angel investors with 250 institutional and individual members globally. It intends to help UK start-ups with capital and the expertise of its members.

“The UK is home to some of the best research and innovation in the world, but has been underleveraged by global angels as angel activity tends to be a localised, city based, clubby affair with informal processes that do not scale,” said Saurabh Srivastava, co-founder of IAN, in the statement.

“IAN, a rare global angel group with robust, standardized, processes that operate across geographies, is best positioned to seize this opportunity.”

Based in New Dehli, India, the Indian Angel Network has about 250 members and has funded 60 start-ups in IT, mobile, healthcare and education, gaming, hospitality, semiconductors across India and overseas. In 2012, IAN invested in $11 million across 17 startup ventures globally, according to the organisation.