The fund is modelled on the lines of Golden Seeds, one of the largest angel networks in the US with five chapters in New York, Boston, Silicon Val ey, Southern California and Texas. It has 275 angel inves ors in its network, and since 2005, has invested over $70 mil ion in more than 65 women ed companies.
Pai and Gulati are in discus sion with the Golden Seeds te am to launch the India edition of the programme. The eight women leaders have each committed between Rs 10 lakh and Rs 25 lakh. “Three years ago, when Golden Seeds came to India to explore investment opportunities in women-led businesses, there were two challenges.The first was regulatory chal lenges related to investing in India, and the second was that there weren’t enough pitches from women-led businesses,“ said Pai, who is also the champion of the Women in Tech programme in Nasscom.
The angels have realized that sometimes women entrepreneurs were diffident and didn’t know how to startup.“Many of them don’t have time to go out and network. So we wanted to create a platform to bring these women entrepreneurs on board,“ she said.
Pai and team are looking to build a corpus of Rs 10 crore to begin with, that will be invested in the next 2-3 years. The fund is looking to collaborate with Saha Fund, the first Sebiapproved fund for women entrepreneurs, and which has investments from T V Mohandas Pai of Manipal Global and Kiran Mazumdar-Shaw of Biocon.