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2012-11-21

Dave McClure to invest in Indian start-ups

US based angel investor and founder of business incubator 500 stratups Dave McClure is looking at Indian subcontinent for setting up 500 StartupWallah, a $5-million limited partnership VC fund to back Indian start-ups, according to a filing on the US Secu

US based angel investor and founder of business incubator 500 stratups Dave McClure is looking at Indian subcontinent for setting up 500 StartupWallah, a $5-million limited partnership VC fund to back Indian start-ups, according to a filing on the US Securities and Exchange Commission.

Delhi-based mentor Pankaj Jain had also joined the company to attend to Indian start-ups and focus on community building.

The start-up accelerator has also partnered with Rajesh Sawhney of GSF Superangels in India. The fund has also invested in companies like Teliport.me, MyGola and CucumberTown.

Paul Singh, a mentor at 500startups and an angel investor looks after their investments in India.

While “wallah” is an Arabic oath, it is also a common Indian suffix used to convey the idea that you are engaged in a given activity.

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