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Q1. What is the objective of the Mumbai Angels?

The Mumbai Angels has been established with the objective of promoting entrepreneurship, mentoring entrepreneurs and enabling start up companies to gain access to funds. It provides a platform to companies to present their business proposals and to seek funds and advice from entrepreneurs, professionals and executives with expertise in start up ventures. The Mumbai Angels as an entity does not make any investments.

Q2. How does Mumbai Angels membership benefit its members?

The members of Mumbai Angels are provided with enhanced deal flow, better quality due diligence and the negotiating power of indirectly pooling capital. The group also provides a forum of fellowship of like-minded successful people. Investing in very early stage companies is inherently risky. The Mumbai Angels brings together successful and experienced people who by sharing their experience and vision with the other members analyze and determine potential start up companies for investment.

Q3. How are deals selected for presentation to the members of the Mumbai Angels?

If you meet the criteria of the Mumbai Angels, we encourage you to submit a plan for investment consideration. You will need to submit a Business Case Analysis (in the attached format) of your business plan. We will forward your submissions to the pre-screening committee for review. The committee evaluates submissions at the end of each month and will respond to submissions every month. If your Business Case Analysis interests the committee, we will arrange up a pre-screening meeting of our committee with you in order to enable them to assess and evaluate your business plan against our criteria including quality of management, market opportunities, financial projections, etc.

Q4. How do I become a member of the Mumbai Angels?

Membership is by invitation only. One must be sponsored by a current member who knows the new member and can recommend them.

Q5. What is the average stage of the companies that present to the Mumbai Angels?

The Mumbai Angels is open to investment in all types of companies with strong teams, promising or unique technology or services, large potential markets and high barriers to entry. The members typically invest in seed stage and early stage companies.

Q6. Where will the members of the Mumbai Angels invest?

The Mumbai Angels has a preference for deals in Mumbai but is willing to consider deals elsewhere in India or abroad.

Q7. What should my business plan contain?

You need to submit an executive summary of your business plan. The summary should have all elements of a business plan containing background information about the company, product and technology description and market opportunity. The Mumbai Angels also needs to understand your business model and financial projections as well as your capital requirements and the milestones you will reach with this investment. Your executive summary should also include specific information on your customers and competition.

Q8. Does the Mumbai Angels sign NDAs?

Because the Mumbai Angels receive so many plans its policy is not to sign NDAs (non-disclosure agreements) or confidentiality agreements.

Q9. Are there any fees in order to submit a plan to the Mumbai Angels?

There are no fees payable to submit the Business Plans to Mumbai Angels.

Q10. How long does it take for a company to receive funding from the Mumbai Angels ?

After your presentation before the members of the Mumbai Angels, you should expect response within seven days. Thereafter, the members of the Mumbai Angels will individually communicate to you or form a due diligence committee in order to further evaluate your company. The Mumbai Angels does not guarantee a time period within which a company may receive funding from members.

Q11. How much money do the members of the Mumbai Angels typically invest in companies?

A typical investment size is Rs. 50 lakhs to Rs. 2 crores (approximately USD 200,000 to USD 500,000) but the members may invest more or less depending on the funding requirements of the company and the interest of the members. If the investment size is larger, the Mumbai Angels may syndicate the investment with other investor groups.

Q12. Does the Mumbai Angels always take a board seat position with each investment?

The Mumbai Angels typically takes a board seat on the companies that its members invest in.