People Group will look to invest from around Rs 15 lakh to about Rs 12 crore from its balance sheet.
People Group, the company which owns and operates matrimonial portal Shaadi.com, is turning an investor and looking to back media-related start-ups and peer-to-peer networks with early stage capital, according to a report published in Economic Times.
"Early-stage startup ecosystem is still in its infancy in India and new ventures struggle to hire and scale up," said Anupam Mittal, founder and chief executive of People Group, adding that this is something that the company will seek to address through its investments.
Mittal has been an active angel investor with over 40 investments in businesses including online cab booking venture Ola and software start-up Peelworks.
People Group will look to invest from around Rs 15 lakh to about Rs 12 crore from its balance sheet. The firm announced its first investment earlier this month by participating in the Rs 1.8 crore round of Flinto, maker of educational activity kits for children, along with GSF Superangels and other investors, the report states further.