Be­neath the start-up boom in In­dia, rise of un­usual an­gels

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - Suveen Sinha suveen.sinha@hin­dus­tan­times.com

NEW DELHI: Renu Ma­lik be­gan to cry. A gy­nae­col­o­gist in East Delhi, she had mar­ried a pae­di­a­tri­cian. Not just that, 37 of her hus­band’s cousins were doc­tors. Renu had sent her only son Ritesh to Theni, a small place in Tamil Nadu, to do his MBBS. And now he was say­ing he won’t be a doc­tor. Worse, he wanted to join a start-up. A few months later, in 2013, all the doc­tors in the ex­tended Ma­lik fam­ily were re­joic- ing. Ritesh’s start- up Ad­stuck had sold an app for Rs6.4 crore.

Us­ing his share of the money, Ma­lik be­came an an­gel: peo­ple who in­vest in the early stages of a start-up, when the big fund houses won’t give them the time of day. At 26, he has al­ready funded 20 of them. He is one of sev­eral from myr­iad back­grounds who do. These are not the usual tech­nol­ogy en­trepreneurs in­vest­ing in tech­nol­ogy start-ups. These are the un­usual an­gels.

CON­TIN­UED ON P10

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