Mumbai Angels: The angel pioneer now inside 360 ONE

Mumbai Angels, founded in 2006 and headquartered in Mumbai, is one of India's earliest angel investment platforms and today bills itself as India's premier private investment platform for early-stage venture investments. It is no longer independent: in January 2023, 360 ONE (formerly IIFL Wealth & Asset Management) acquired a 91% stake in the network for ₹45.73 crore, and the firm now brands itself as “a 360 ONE company”. Note for founders: the network's former official website is no longer live — the old domain now serves unrelated content — so engage through the current 360 ONE-linked presence and leadership instead.

Investment thesis

Mumbai Angels describes itself as process- and algorithm-driven, focused not only on picking strong start-ups but on the exits on the investments. The network is known for the depth of its due diligence and for how it manages its portfolio — a reputation it calls the gold standard of how deals are invested and managed in the industry. It is sector-agnostic and writes its first cheques at seed and early stage.

Sectors, stages, funds and cheque sizes

Alongside the acquisition, the platform launched two new funds: a Category I Venture Capital Fund – Angel Fund of up to ₹1,200 crore (₹1,000 crore target plus a ₹200 crore green shoe option), and a pooled Category I Venture Capital Fund of up to ₹500 crore (₹300 crore target plus a ₹200 crore green shoe). The angel fund is structured without pooling — each investment is a separate scheme, giving investors deal-by-deal flexibility and startups leaner cap tables — while the VC fund offers pooled exposure across the platform's deal flow and funds later-stage investments in angel-fund portfolio companies. In historical interviews the network cited a typical investment range of ₹50 lakh to ₹2 crore, including at idea stage; current per-deal cheques under the fund structures are not publicly disclosed. At the time of the acquisition the network counted over 750 investors and a 220-startup portfolio, with plans to add 500 companies over three to four years.

Notable portfolio

Reported investments include Myntra, InMobi, Purplle, BluSmart, Dhruva Space and Vahdam Teas. The network's own claims put its track record at 200+ companies backed, 100+ exits plus next-round investments, and a 35% IRR (pre-fund structure).

Partners and team

Nandini Mansinghka is Co-founder and Chief Executive Officer of Mumbai Angels. On the parent-company side, Karan Bhagat, Founder, MD and CEO of 360 ONE, said the acquisition brings early-stage investing as an asset class to 360 ONE's ultra-wealthy client base.

Programs, accelerators and credits

No proprietary accelerator or programme is publicly documented, and no founder credits or perks programme is publicly documented.