ISB alumni announce micro VC fund Atrium Angels for Indian startups

Indian School of Business (ISB) has setup a micro venture capital (VC) fund known as Atrium Angels which is focussed on providing pre-seed and seed stage capital to startups with at least one co-founder from the Indian School of Business.

This move comes after the Government of India recently unveiled the Startup India Seed Fund Scheme to financially support early stage Indian start-up ventures.

It has been set up by three ISB alumni, Abhishek Nag, Director of Business Development at Netflix, Umang Kumar, Co-Founder & President at CarDekho, Varun Laul, Head of Digital & Technology Investments at Investcorp India.

“ISB alumni have started a number of very successful startups in the last decade like OfBusiness, LivSpace, MindTickle, MyGate, boAt, 91mobiles, Moglix, Lendingkart, UpGrad,” said Abhishek, Umang, and Varun, founding team of Atrium Angels. We estimate that 10% of all ISB alumni are starting up their own ventures. We aim to be the first port of call for all ISB founders, and hope to leverage the entire ISB network for these founders, they added.

Around 29 ISB Alumni with a healthy mix of seasoned startup investors, including Ramakant Sharma (Co-founder and COO of LivSpace), top technology executives like Rohit Kapoor (CEO, India and SEA, Oyo), and entrepreneurs like Aman Gupta (co-founder and CMO at boAt) have contributed to the fund.