12,182.00-42.55
Stock Analysis, IPO, Mutual Funds, Bonds & More

LetsVenture registers as AIF to get more angels

Industry members said an AIF investment structure for angels helps startups by exempting them from the ‘angel tax’, while investors said it helps create a level-playing field with venture capital seed funds.

, ET Bureau|
Oct 11, 2018, 11.21 AM IST
0Comments
ThinkStock Photos
ThinkstockPhotos-480141638
LetsVenture said the move will help push angel investments through its platform to Rs 1,000 crore in the next two years, compared to Rs 450 crore invested in the past five years.
BENGALURU: Investment platform LetsVenture is aiming to attract more angel investors and facilitate more investments in startups by registering as an angel Alternate Investment Fund (AIF) under the Securities and Exchange Board of India (Sebi), which means it can operate as a privately-pooled investment vehicle and collect funds from Indian and foreign investors to invest in startups.

Industry members said an AIF investment structure for angels helps startups by exempting them from the ‘angel tax’, while investors said it helps create a level-playing field with venture capital seed funds.

LetsVenture said the move will help push angel investments through its platform to Rs 1,000 crore in the next two years, compared to Rs 450 crore invested in the past five years.

Cofounder Shanti Mohan said it will also push startup investment as an asset class, and added that the company is already in discussions with wealth management platforms. “As an AIF, we can empower entrepreneurs, while also allowing investors to invest smaller amounts and diversify their portfolio,” Mohan said.

Also Read

T-Hub, LetsVenture announce first batch of startups for T-Angel

LetsVenture’s fund to back YC startups

LetsVenture set to launch its healthcare council

X1 Racing League raises funding led by LetsVenture

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service