The Indian Angel Network (IAN) has announced a Memorandum of Understanding (MOU) with Caspian Debt, a provider of debt and equity capital, in an effort to promote diversified funding for startups and small businesses.
Reports in IndianWeb2 on Monday (Jan. 13) said that IAN and Caspian Debt are teaming up to strengthen IAN's multi-pronged approach to startup funding. The companies are also working together to connect startups and small businesses with educational services and resources, and raise awareness about the variety of funding options startups have.
IAN will work with Caspian Impact Investments, Caspian's advisory and investment arm.
"As we enter a brand new decade, we are resolved to build on our past performance, and support an even greater number of Indian startups," said IAN Co-founder Padmaja Ruparel in a statement. "Currently, India is home to more than 30 unicorns. Through the concerted efforts of key industry players and the government, India has the potential to ramp this number up to 50 within the next half-decade. Our partnership with Caspian Impact Investments is a step in this direction, and we are quite delighted about it. Together, we aim to realize our shared vision of bolstering the Indian startup ecosystem by extending capital support, mentorship, and strategic guidance to early and growth stage enterprises."
"At Caspian Debt, our mission is to enable the growth of enterprises that work [toward] creating social and/or environmental impact in a responsible, transparent and sustainable manner," said Caspian Debt Investment Director Avishek Gupta in another statement. "We are delighted to partner with IAN, which has done pioneering work in bringing equity capital to young startups."
He added that the collaboration will also further Caspian's goal "to ensure that no professionally-managed startup goes without debt funding required for scaling."