MK Stalin, the Chief Minister of Tamil Nadu, launched the Global Tamil Angels platform (www.tamilangels.fund) on Monday, inviting investors from the global Tamil diaspora to invest in the state’s start-ups.
The platform debuted at the “Global Startup Investors Summit,” which was co-hosted by the Tamil Nadu Startup and Innovation Mission and the FeTNA International Tamil Entrepreneur Network.
At the event, a multi-billion-dollar American Tamil Fund (ATF) was announced by investors from the Tamil Diaspora in the United States to invest in the state’s start-ups. According to a press release, the ATF has pledged to invest Rs. 16 crores by December 2023.
Global Tamil Angels is a platform developed by StartupTN that facilitates fundraising for Tamil Nadu-based start-ups and investing for Global Tamil Angel Investors by connecting them. It intends to attract angel investors from the Tamil diaspora throughout the world.
They could connect with upcoming start-ups based on their areas of interest, among other criteria. Global Tamil Angels will also provide the necessary assistance for the successful completion of transactions.
Start-ups can begin by creating a profile. They will submit basic information as well as their pitch deck, revenue model, traction, and desired funding. Their profiles will be published on the portal and made visible to investors after being verified by StartupTN.
Founders can look through a personalised list of investors based on the industries in which they want to invest. According to a press release, they can also send invitations to contact investors in order to kick-start investment discussions.
Stain stated at the event that investments in Tamil Nadu-based industries reached an all-time high of $1.5 billion last year. When compared to 2021, this represents a 70% increase. He urged the global Tamil investor community to contribute significantly to the State government’s various initiatives.