Mumbai May 24, 2012: VentureNursery, India’s first angel-backed start-up accelerator, today announced that two of India’s premier early stage venture funds – Mumbai based Kae Capital and Delhi based YourNest Angel Fund – have joined its Charter Angels program.
The Charter Angels program is an anchor element of VentureNursery’s value proposition and is meant to give a platform to graduating start-ups to pitch for on-going mentoring and seed funding by seasoned and active angel investors.
Commented Shravan Shroff, Co-founder, VentureNursery, “We welcome Kae Capital and YourNest to our Charter Angels program and are confident that our participating start-ups will benefit immensely from their association. Both Sasha and Sunil have been early believers in our initiative and we are happy that the funds managed by them have formally agreed to support VentureNursery.”
Said Sasha Mirchandani, Partner, Kae Capital, “There is a gaping need for an accelerator in the Indian market and the launch of VentureNursery founded by Ravi Kiran & Shravan Shroff two extremely experienced individuals who have built very successful companies fills that gap perfectly.”
Added Sunil Goyal, CEO and Fund Manager, YourNest Angel Fund, “VentureNursery is set-up by experienced entrepreneur and professionals. It signifies that Indian economy is all set to reap benefits of economic liberalisation with such incubation and angel funding initiatives emerging from private sector. It is the best time for budding entrepreneurs. YourNest Angel Fund as a charter angel member is keen to nurture promising entrepreneurs identified through the BootCamp.”
As reported recently, VentureNursery has received an enthusiastic response from over 120 entrepreneurs for both its acceleration programs – the 90-day boot camp and the ParallelTrack process. It also recently announced that twelve seasoned angel investors have joined it as Charter Angels.
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