ISM Angels, a network of IIT (ISM) Dhanbad alumni who invest in early stage startups, announced its official launch to the public. The angel Network is known for its exclusive investments in tech startups from IIT Dhanbad.
IIT Dhanbad is one of the oldest IITs and leading engineering schools in India. A large number of its students and alumni are choosing the entrepreneurial journey and the institute has produced many successful entrepreneurs.
ISM Angles was founded in October 2021 by Rakesh Soni and Krishna Anisetty, two IIT Dhanbad alumni, to further explore the potential of IIT Dhanbad’s tech startups and thereby support the development of upcoming entrepreneurial talent.
ISM Angels provides an excellent platform for angel investors to gain access to high quality startups, collaborate with fellow angels, invest without worrying about legal paperwork, and give back to their alma mater.
“As a tech startup founder, I understand the pain, founders have to go through in the early stages. The goal of ISM Angels is to alleviate that pain a bit by providing smart money and mentorship to IIT Dhanbad entrepreneurs,” said Rakesh Soni, founder of ISM Angels.
“Our vision is to invest $30M seed funding in the next 10 years and produce 5 unicorns driving at least 10x return for our members,” he added.
SIM Angles has grown to 80+ members in a short period of time who have been associated with startups for many years and bring with them a wealth of experience. It has invested $400K so far with a target of $3 million investment in 2022. They are hoping to pitch 24 seed-stage startups and 50% of them will be funded this year.
“With angel investing, there is high ambiguity and risk. Investors would need to make high judgment calls to be successful. The goal of ISM Angels is to build a community, where investors can collaborate and share their diverse expertise to evaluate startups and invest alongside with other fellow alumni with confidence,” said Krishna Anisetty, founder of ISM Angels.
About ISM Angels
Their mission is to build a community of ISM angel investors who will support ISM startup founders. It is providing a forum for ISM alumni to give back to their alma mater and support fellow alumni. Together, they are an aggregation of expertise from multiple industries and operational skills, resulting in more effective due diligence, terms negotiation and board stewardship.