India’s leading angel investment platforms are going all out to lure people from smaller cities to startup investing, despite the attendant risks and regulatory issues involved.
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The nearly two-decade-old investment platform will not make any angel or pre-seed investments anymore. Its closure tells the larger story of the state of angel investing in India.
Accusations are flying between a co-founder of innerwear brand Almo and its top investor over possible corporate governance lapses and a conflict of interest, even as the startup struggles to survive.
The seven-year-old startup quietly shut shop and founder Sharmin Ali stopped answering questions, leaving the investors high and dry.