Naman Angels India Foundation is Navi Mumbai’s first angel network focused on facilitating investments in early stage startups. The company acts as a facilitator and undertakes secretarial functions on behalf of NAMAN members.

NAMAN Network members are successful entrepreneurs, business professionals and industry experts who want to invest in early stage companies and also support them with their expertise and networks.

NAMAN currently operates chapters in Mumbai. These meetings are conducted once a month.

NAMAN charges a concession from the startups post investment from the funds raised.

Yes, there are guidelines for presentations. Please ask the NAMAN team to send you the guidelines if you haven’t received them

Please share your valuation expectations with the NAMAN team before you confirm your interest in presenting. While valuations are largely based on negotiations here is some information, the average valuation for angel networks is Rs. 10 crores post money. In case your company is pre-revenues or has revenues less than Rs. 10 lakhs the valuations are usually below this mark. Companies with substantial revenues or with a team with strong domain experience a higher valuation can be expected.

The typical timeframe for angel investments is around 3 months from the date of the first presentation. These could however vary depending on the amount to be raised, the time spent on negotiation, due diligence and legal documentation.

The typical terms of investment include an appointment of a board observer from one of the investors whose confirmation is required for certain decisions made by the company. They also include a clause to ensure that the investors receive a certain minimum return on their investment in case of acquisition before other shareholders can receive their share of the proceeds.

Post the presentation if there is sufficient interest, one or more members undertake a business due-diligence of the company to understand the business better and its future plans. After this stage the investment terms are finalized with the company. In the following meeting(s) of investors within the next thirty days, the findings are presented to all members. At this stage each member takes a decision to invest and if yes, the quantum of investment. Thereafter a term sheet is issued to the company and if accepted by the company this is followed by a legal and financial due diligence. If the company passes this stage then the documents relating to the investment are executed between the company and each individual investor.

This is a decision the company has to take. However, since the terms are fairly standard and keeping the legal costs in mind, the company could take help from friends to understand the implications of the legal clauses if required.

We expect companies shortlisted for presentation to provide information to the best of their knowledge in their own interest. If at any point of time it is found that the information submitted is incorrect then the investment process is likely to be cancelled. Companies should also share any material change that occurs during the process of the investment or due diligence that may affect the investment. In case they are also engaging with other investors, companies should keep the NAMAN team informed of such developments.

NAMAN members and team take the support function for startups very seriously. Post investment the team works with the startup to assist it key areas like future capital raise, business connections, PR and talent search