Mayfield Fund Invests in Incubator, AngelPrime

Mayfield India has invested in Bangalore based incubator, AngelPrime (read: our interview with AngelPrime team).

Under  AngelPrime’s unique  *startup  studio*  model,  the  partners work closely with entrepreneurs to incubate companies, provide hands?on mentoring, seed capital of approximately  INR  1-­3 crores (USD  $200K-$600K), and a co-working facility in Bangalore. The AngelPrime team has incubated 3 companies in the past two years including ZipDial, EzeTap and Unamia (which recently raised $1.2mn funding).

Mayfield fund  has over  $3  billion  under  management  and  recently  raised  its  fourteenth  fund,  the  $365  million  Fund  XIV.Mayfield  also has a dedicated Mayfield India fund of $111M for investing in early stage revenue generating companies primarily in non technology sectors.

AngelPrime recently announced appointment of Dr. Pramod Varma (UID architect) to its board of advisors and earlier this year, Angelprime launched Ezetap, a made-in-India mobile Point-of-Sale solution that allows any merchant or agent to capture credit or debit card payments in the field using their mobile handset or tablet.

The Accelerator Boom in India?

Recommended Read: Incubators and Accelerators in India: THE List.

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