YourNest Angel Fund has announced that US-based Northgate Capital has come onboard as an investor. It will join SIDBI and IIFL which have already joined YourNest as limited partners.
Northgate Capital is a subsidiary of Religare Global Asset Management that holds a 26 percent stake in YourNest. It is taking over the role of co-sponsor from its parent company and was cleared by the Foreign Investment Promotion Board over this investment in June.
YourNest currently has invested in technology and consumer startups like BookMyCab and states that Northgate will be looking to invest in Series B and higher investment rounds. Additionally, Northgate will help YourNest in its fundraising efforts and asset management.