360 ONE Acquires Controlling Stake In Mumbai Angels; Launches Two New Funds
Mumbai Angels will now be looking at deals with a deeper penetration in the early-stage startup pool, 360 ONE said in a statement.
360 ONE—earlier known as IIFL Wealth and Asset Management—on Wednesday said it has completed the acquisition of controlling stake in early-stage venture investments platform Mumbai Angels.
Mumbai Angels, one of the leading players in the early-stage investment space, will now be looking at deals with a deeper penetration in the early-stage startup pool, 360 ONE said in a statement.
The company, however, did not disclose the financial details of the transaction.
Through its filtration criteria, it will be able to offer a wider array of deals to its investors.
Dedicated to supporting and nurturing early-stage startups, and helping its investors to grow their wealth, Mumbai Angels also announced the launch of two new venture capital funds.
"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, managing director and chief executive officer at 360 ONE.
Nandini Mansinghka, chief executive officer, Mumbai Angels, said the launch of two new funds will open a plethora of opportunities for new-age companies looking at capital and investors keen to ride the startup wave.