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    AngelList gets advisor for India in angel investor Utsav Somani

    Synopsis

    According to AngelList’s website, the platform has closed deals worth $355 million through online syndicates for 970 startups. It claims to have 170 active syndicates.

    Naval Ravikant, co-founder of AngelList, is often called Silicon Valley’s startup kingmaker.
    BENGALURU: Angel investor Utsav Somani will be an advisor to AngelList, which is bringing its syndicate platform to India.

    AngelList was founded by Naval Ravikant in 2010 and helps investors and entreprenuers connect online, also allowing investors to create a VC fund to make a single investment.

    In a post shared online on Monday, Somani said that he will be responsible for bringing syndicates to India.

    “My role will consist of opening dialogue with government officials and regulators with suggestions that’ll benefit startups and investors in India. I’ll map out the Indian regulatory framework so AngelList can come in with their pop-up VC structure that enables venture investing online at scale,” he said in the post.

    “Pooled Investment Vehicle is what we want clarity on,” Somani, who was earlier with LetsVenture, said separately. “I, as an advisor, will work closely to ensure that we are completely given the green light for global investors to get excited about Indian opportunities.”

    According to AngelList’s website, the platform has closed deals worth $355 million through online syndicates for 970 startups. It claims to have 170 active syndicates.

    LetsVenture, which was launched in 2013, is among the online deal discovery and syndication platforms in India. Startup deals tracker Tracxn also launched a platform to connect entrepreneurs with potential investors, called Tracxn Syndicate, last year.
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