Mumbai Angels, we started with a spark!
The inception of India's leading angel group was laid in mid-2006. Investing in a company with no history was a fairly radical and novel concept to a population with a very conservative mindset. 'Angel investment' as a separate asset class of investment was born when Sasha Mirchandani and Prashant Choksey joined hands and worked towards helping young entrepreneurs with fresh ideas or young companies. Entrepreneurs in their respective family-run businesses, they started meeting entrepreneurs over coffee to start screening ideas and ventures for potential investment.
Eventually after many meetings and several cups of coffee, they shortlisted and made their first angel investment in a start-up in the mobile space called Mkhoj (now known as Inmobi). Things started taking shape gradually as both the founders worked hard on building a platform that connects entrepreneurs and investors; this led to the formation of the Mumbai Angels. This was the beginning of the start-up story in India and efforts from members of groups such as Mumbai Angels gave an additional boost to talented entrepreneurs who were looking to start up!