Announcing its first exit from one of its portfolio companies, Hyderabad Angels, in statements sent to us, are reporting that they have exited edtech startup Edutor Technologies, with a 3.5x return. Existing investors had bought out Hyderabad Angel’s stake in the company.
This will mark the first exit for one of India’s fastest growing angel investor network. Hyderabad Angels currently comprise of over 70 different angel investors, and the firm invests in early-stage startups with follow-up angel rounds.
Talking about their firm’s first and major exit, Pradeep Mittal, Chairman at Hyderabad Angels said,
Currently, 70 investors form part of Hyderabad Angels and we are happy that with our growing network of investors we are able to close larger rounds and more importantly provide the required expertise and guidance to our portfolio companies.
The firm maintains, that it beleives in closing rounds faster with entrepreneurs so as to provide them with working capital for their startups, as early as possible.
The investment firm is currently focused on it portfolio companies, with seven major deals already in pipeline. Besides working on our first exit and helping few other portfolio companies successfully raise their next round of funding.