Wealth management firm 360 ONE (earlier known as IIFL Wealth & Asset Management) has acquired a controlling stake in Mumbai Angels, a leading platform for early-stage venture investments.
As one of the largest players in the early-stage investment space, Mumbai Angels will now have access to a wider range of deals through the acquisition of 360 ONE. Through its strict filtration criteria, it will be able to offer a wide range of best-in-class deals to its investors, as per reported by BW Disrupt.
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“Mumbai Angels has built an enviable platform to tap quality companies at an early stage. We are glad to have a talented team on board led by Nandini Mansinghka, Chief Executive Officer, of Mumbai Angels. With this new set of offerings, we will be able to further provide clients some interesting investment opportunities at an early stage in companies, which have the potential to bring about disruptions in their respective industries,” said Karan Bhagat, Founder, MD, and CEO, 360 ONE.
The investment platform also today announced the launch of two new funds: Category 1 Venture Capital Fund – Angel Fund and Category 1 Venture Capital Fund. (VCF).
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Category 1 VCF-Angel Funds do not involve pooling, i.e. each investment is treated as a separate scheme. This fund offers unique flexibility to both investors as well as Startups. The second fund, Category 1 VCF, is aimed at those looking at investments over a wider portfolio. This Fund will enable investors to participate in every transaction on the platform.
“We are thrilled to be a part of 360 ONE, and the launch of our two new funds will open a plethora of opportunities for new-age companies looking at capital and investors keen to ride the startup wave,” said Nandini Mansinghka, Chief Executive Officer, Mumbai Angels.
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“Our investments are sector-agnostic, and our team has a proven track record of identifying and supporting promising early-stage companies, and we are confident that the Angel Fund and Category 1 VCF. Fund will provide valuable opportunities for investors to be a part of the success stories of young Indian start-ups,” she added.Â
About 360 ONE
360 ONE is a global asset management company with a primary focus on India. Their goal is to develop financial products that produce returns that are appropriate to the level of risk that they are exposed to.
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