Mumbai : Freemont Partners today announced that they have entered into a partnership with Mumbai Angels with an aim to come together and interact closely to incubate and invest in start-ups.
Freemont Partners is an incubator and accelerator providing mentoring and seed funding to entrepreneurs. Freemont's experienced management, global access to mentors, partners and alliances provide a unique value proposition for new and upcoming start-ups before their major round of funding. Freemont Partners has a broad 2- 5-year investment horizon and expect to invest Rs 25 crores in about 25 – 30 companies over the next 3 – 4 years.
Mumbai Angels started in November 2006, is a unique forum for exchange of ideas and provides a platform to start ups and very early stage companies by bringing them face to face with successful entrepreneurs, professionals and executives who are interested in and have the funds available to invest in start up companies. Mumbai Angels is recognized as an innovative business incubator providing companies with a level of assistance that surpasses their highest expectations.
Vivek Mohan, founder of Freemont Partners said, "today's generation is ready for the innovation economy, they are thinking and innovating on products and offerings which will improve the quality of life significantly. Our focus is on building this new innovation economy. along with Mumbai Angels. We are jointly looking at some exciting new ventures, most of which are technology savvy, IP driven and can work well on global platforms or connect with a world wide audience".
Prashant Choksey co-founder of Mumbai Angels said, "partnership with Freemont Partners will provide a funnel of qualified deals to the Mumbai Angels network. It will also provide young entrepreneurs an opportunity to work with seasoned operations people and make fewer mistakes. The opportunity to create a start up ecosystem in India is a challenging one and we are confident that this partnership will provide new and interesting contributions."
Both the companies aim to come together and benefit from each other's experience.