360 ONE acquires controlling stake in Mumbai Angels

Mumbai Angels will now be looking at a greater funnel of deals, with a deeper penetration in the early-stage start-up pool

January 18, 2023 09:50 pm | Updated 09:50 pm IST - MUMBAI

360 ONE (earlier known as IIFL Wealth & Asset Management), said it has completed the acquisition of controlling stake in Mumbai Angels, a platform for early-stage venture investments.

Mumbai Angels will now be looking at a greater funnel of deals, with a deeper penetration in the early-stage start-up pool. Through its strict filtration criteria, it will be able to offer a wider array of best-in-class deals to its investors, the firm said.

“Mumbai Angels has built an enviable platform to tap quality companies at an early stage. With 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 & CEO, 360 ONE.

Nandini Mansinghka, Chief Executive Officer, Mumbai Angels. “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.”

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