To tap newer pools of capital, angel investing platform LetsVenture has launched Women Angel Network, which will provide access to women CXOs to invest in early and growth-stage startups.
Through the platform, women angel investors will also get the opportunity to mentor startups. LetsVenture aims to onboard at least 100 women angel investors in 2021, and will also launch at least five investment syndicates led by women.
According to a study conducted by LetsVenture, India has about 10,000 angel investors and only 1 per cent of these are women. The launch of the platform comes at the backdrop of a strong business case for women to invest, take board positions and also add value to startups.
To encourage more women professionals, CXOs, and founders to explore angel investing, LetsVenture will also launch a learning program for these investors, a dedicated community for networking, and lower cheque sizes on the platform for a capped timeframe.
“Having spoken to several women investors and those that suited to fall into this bucket, we found that the biggest impediments were the lack of access to networks where knowledge and startup deal flow is shared. The intention of the program is to create education amongst women around angel investments, helping them become active investors in the ecosystem. We want to promote women investors from a long-term perspective,” Sunitha KR, president of early-stage investments at LetsVenture said in an interaction.
The learning program will provide cohort-based learning, engagement with other angel investors, and open networking circles for women.