Info-tech

DotCom Infoway chief joins Indian Angel Network

Our Correspondent Madurai | Updated on August 01, 2014 Published on August 01, 2014


CR Venkatesh, CEO of Dotcom Infoway and Co-founder, Magzter Inc — a e-publication portal — has joined Indian Angel Network (IAN), the biggest angel investor network in South Asia, thus becoming the first professional angel investor from the Madurai region to be engaged in such funding activity.

Speaking to BusinessLine, he said innumerable ideas are being generated from this region. However, their inability to scale up because of the lack of financial support has been a matter of concern.

It was this aspect, especially, that made him opt for this alternative asset class, where people invest in the ideas of entrepreneurs rather than in conventional assets such as gold, real estate and the stock market. “Angel funding usually go in for investments of ₹30 lakh and above, but most of the start-ups based on student ideas and initiatives in this region require smaller amounts, ranging from ₹3 lakh to ₹20 lakh, to take them to the next stage. I want to help such entrepreneurs with ideas realise their dreams,” he said.

R Sivarajah, Director and Founder of the city’s Nativelead Foundation, which aims to promote entrepreneurship in tier II and tier III towns, said that with the recent Budget placing stress on entrepreneurship and start-ups, angel funding is a much-needed form of financial support to enable entrepreneurs move to the next level.

He recalled that the Nativelead Foundation had organized a meeting of the IAN in Madurai last November. The emergence of an angel investor in the region fulfils the need of the hour.

To strengthen the entrepreneurial ecosystem, the Nativelead network also plans to start a local investment network called the Native Angels Network. Entrepreneurial ideas in fields such as rain-water and grey-water harvesting, waste food management, and online groceries are taking shape as start-up ventures, he added.

Published on August 01, 2014
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