From startup founders to athletes: How India’s angel investor landscape is evolving beyond wealthy individuals

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Subscribe to enjoy similar stories. Sport stars, actors and young professionals are edging their way into angel investment territory as big-name founders in India’s startup ecosystem go easy on funding. The top three angel investors of 2023 reduced their investments in 2024, reflecting a pullback in angel funding to Indian startups.

However, angel investments from a new league – athletes – are on the rise, with sports icons increasingly participating in early-stage funding. Former Indian cricket team captain Mahendra Singh Dhoni led with six investment rounds, followed by cricketer Ajinkya Rahane. Cricketers Sachin Tendulkar and Shikhar Dhawan backed two companies each, while cricketer Sourav Ganguly and tennis player Sania Mirza also contributed.

Badminton player PV Sindhu joined the list as the newest athlete angel last year with three investments in startups. According to Padmaja Ruparel, co-founder of the Indian Angel Network, the profile of angel investors is broadening beyond wealthy entrepreneurs. “Younger professionals with high-paying jobs are increasingly allocating funds to this high-risk asset class.

It’s remarkable to see angel investing mature into a bona fide asset class," she told Mint. The top angel investors of last year were Namita Thapar, executive director of Emcure Pharmaceuticals, Aman Gupta, co-founder of boAt Lifestyle, and Peyush Bansal, co-founder and CEO of Lenskart. While Thapar's investments in Indian startups dropped to 14 from 35 and Gupta's to 20 from 33, Bansal invested in 10 startups, down from 32 in 2023, according to data from Tracxn.