Andhra Pradesh CM Launches Angel Fund To Support Telugu Entrepreneurs

Andhra Pradesh Chief Minister N. Chandrababu Naidu launched a new Angel fund called 'Telugu Angels' at the Business Leadership Summit of the World Telugu Federation’s (WTF) 12th Bi-Annual Conference. 

The fund aims to support Telugu entrepreneurs in growing and expanding their businesses globally. However, the size of the fund was not shared.

The fund plans to partner with global investor networks and accelerators. It also aims to create a group of strategic investors, including founders of unicorns (companies worth over $1 billion) and soonicorns (companies on their way to becoming unicorns).

Read also - Zoplar Raises $3.4 Mn Funding Led By Blume Ventures

CM Chandrababu Naidu said, “Today, Telugus are celebrated for their leadership, innovation, and excellence across industries, from corporate roles to entrepreneurship. The launch of Telugu Angels is a significant step in this journey of Vision 2047 and I believe this initiative will be one of the key enablers. I am committed to supporting the Telugu entrepreneurs and confident that Telugu Angels will create a game-changing impact. I invite all global CXOs and Founders to be part of this Angels Network.”

Siddharth Marupeddi, CEO of FirstLoop Capital, expressed pride in launching a global network that supports Telugu founders and entrepreneurs worldwide. This initiative comes as the state government aims for a $2.4 trillion economy by 2047 and hopes to raise the per capita income to $43,000.

The government has also signed a deal with google to promote the use of artificial intelligence (AI) in sectors like sustainability and healthcare. Additionally, Andhra Pradesh was one of the top contenders to offer land to Foxconn, an electronics manufacturer, for setting up a new facility.

Advertisment

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.