Abhiroop & Abhimanyu - Financial Services Monday announced the first close of Abhi Incubation Angel Fund and said the money raised will be deployed in two startups.The amount raised was not disclosed.
The category I angel fund, which received SEBI’s approval in May, is also looking to further raise up to $2.5 million by March 2025.
Abhi Incubation Angel Fund intends to invest in start-ups that can be scaled up to address and "solve day-to-day problems with technology interventions and create profitable businesses in the business to consumer (B2C) space across industries”.
The fund is managed by Abhimanyu Londhe and Abhiroop Rishi and claims to have received commitments from various Indian and international investors.