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John Wang
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Finance
May 20 20:55

Head of AngelList in India plans to fund 30 startups

Micro fund will give out US$150000 to the selected tech projects.
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Utsav Somani - the head of VC platform AngelList Indian division - revealed a plan to back no less than 30 startups in the next two years via iSeed - his small maiden fund.
Somani stated that he plans to give US$150000 to tech startups who are still in early stages of development. He will also provide access to international investors and their expertise to the companies in his portfolio. iSeed is not planning to take part in the following financing rounds of the selected startups.
iSeed consists of a group of noticeable profile investors, including the co-founders and the founders of Xiaomi. 
The syndicates program of AngelList in India started to operate back in 2017. Since then, the service has facilitated 140 investments in the country.