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Indian Angel Investor Network Announces First UK Investment

Vanessa Doctor

3 March 2014

The British High Commission in India, the New Delhi-based representative of the head of state in the UK, has announced that the is set to make its first investment in a UK-based software firm. 

The decision to invest in London start-up SwiftShift coincides with the opening of the IAN's international chapter in London's Tech City business district in February 2014. IAN is one of the largest networks of angel investors in Asia, with some 250 high net worth individuals from all over the region as members. 

Founded in 2012, SwiftShift sells a range of employee management solutions that can be managed over SMS, email and smartphones. It gained the support of IAN after a pitching event organised by the UK Trade & Investment, as part of a strategy to target investment from high-growth markets as China and India. 

"The UK is home to some of the best innovation and R&D in the world. IAN is a rare, and possibly the only, angel group in the world that has global membership and invests globally," Saurabh Sirvastava, co-founder of IAN and leader of the UK investment initiative, said in a statement.

IAN's investments has included start-ups in different countries, including the US, Canada, France, Hong Kong, Singapore, Sri Lanka and India. The group, established in 2006, has a portfolio of over 100 companies across multiple sectors.