ISB alumni launch Atrium Angels, a Micro-Venture Capital Fund for Indian Startups
Following the government of India's announcement of the Startup India Seed Fund Scheme to support early-stage Indian start-up ventures, a group of ISB alumni have announced Atrium Angels, a micro VC fund and syndicate 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-a-kind fund was founded by three ISB alumni: Abhishek Nag, Netflix's Director of Business Development, Umang Kumar, CarDekho's Co-Founder and President, and Varun Laul, Investcorp India's Head of Digital & Technology Investments.
The platform will not only enable founders access finance, but also the know-how and networks of the Atrium Angels LP network and the broader ISB Alumni Community. Over the next 18 months, Atrium Angels wants to invest in 12-15 pre-seed companies.
Around 29 ISB alumni have contributed to the fund, including Ramakant Sharma (Co-founder and COO of LivSpace), top technology executives like Rohit Kapoor (CEO, India and Southeast Asia, Oyo), and entrepreneurs like Aman Gupta (co-founder and CMO of boAt).
Atrium Angels has already made three investments in Goodmeetings, FanPlay, and StockGro, with a strong network of co-investors including Chiratae Ventures, Roots Ventures, and Velo Partners.
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.”