Tamil Nadu Chief Minister MK Stalin on Monday launched the Global Tamil Angels platform (www.tamilangels.fund) for investors from the global Tamil diaspora to make investments in the State’s start-ups.
The platform was launched at the “Global Startup Investors Summit,” jointly organised by the Tamil Nadu Startup and Innovation Mission and FeTNA International Tamil Entrepreneur Network.
A multi-crore American Tamil Fund (ATF) by investors from the Tamil Diaspora in the US was announced at the event to invest in the State’s start-ups. The ATF has pledged investments to the tune of ₹16 crore before December 2023, according to a release.
Global Tamil Angels is a platform by StartupTN that makes fundraising easy for Tamil Nadu-based start-ups and investing easy for Global Tamil Angel Investors by helping them get connected. It aims to onboard angel investors from the Tamil diaspora across countries.
They could connect with start-ups in the pipeline based on their sectors of interest, among other criteria. Global Tamil Angels will also provide necessary support for the successful closure of deals.
Start-ups can get started by creating a profile. They will submit basic information and upload their pitch deck, revenue model, traction, and fundraising sought. After verification by StartupTN, their profiles will be published on the portal and made visible to the investors.
Founders can explore the personalised list of investors based on the sectors in which they would like to invest. They can also send invitations to get in touch with the investors to kick-start the investment deliberations, according to a release.
Speaking at the event, Stain said that investments in industries operating in Tamil Nadu amounted to an all-time high of $1.5 billion last year. This is an increase of 70 per cent when compared to 2021. He urged the global Tamil investor community to participate in a big way in various initiatives taken by the State government.