Silicon Valley’s Naval Ravikant, Tim Ferriss back $45 mn investment vehicle for Indian founders
- ByStartupStory | February 28, 2022
At a time when a growing number of established entrepreneurs are setting up their own investment funds to back startups, AngelList India’s Utsav Somani has launched a vehicle called Galaxy with a corpus of $45 million that will enable early-stage startup founders each founder will be handed out $1 million to invest in startups and if the first few bets are promising they will have access to $2 million each, said Somani, founding partner of Galaxy.
Well-known names from Silicon Valley including Naval Ravikant, cofounder and chairman of AngelList and Jake Zeller of Spearhead are advisors to Galaxy. Somani said, when asked about entrepreneurs who will manage running their company and investing, ” there is no pressure from us… Most founders already help out by investing their time…. Now with Galaxy, they have capital to invest too for better alignment of incentives on all sides. “
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