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Be a part of facilitating early stage enterprises

ChennaiAngels Network Association (TCA), formerly known as Chennai Entrepreneurship Trust Fund, is a group of angel investors keen to facilitate early stage enterprises to grow by providing funding and mentoring support. Interested Candidates can view the Members of TCA in Meet our Angels page and approach us through them or can mark an email to [email protected] for applying.

Know our criteria
Our investment process

Membership

We have four classes of membership:

Lifetime

Lifetime members are the eleven (11) members who founded the organization and contributed an initial corpus of Rs 5 lacs each

Individual

Individual membership is provided to individuals initially as invitation membership, followed by confirmation typically after a year

Institutional

Institutional membership is extended to venture funds and investment bankers.

Corporate

Corporate membership is extended to corporates who wish to invest through their companies and involve members of their companies.

FAQs

How to apply for funding?

Use our online platform to upload your ppt and required documents based on the format listed. Click on the Login button on the top right corder to create an account and get started.

Which startups are eligible to apply for funding?

Early revenue stage startups that have unique, scalable ideas and show strong potential for rapid growth can apply for funding. Businesses should have proprietary technology, early market traction, and defensible barriers to entry. We look for experienced management teams, validated concepts with early market engagement, and founders who are open to mentoring. A reasonable valuation, aligned with our risk/reward expectations, and a clear exit strategy are also essential.

What is the funding process at TCA?

Once we receive your application, it will be reviewed by our team of sector experts. If shortlisted, you will be invited to present your startup to them. Upon clearing this stage, you’ll move on to present to our full group of investors. If there is investor interest, a due diligence process will follow. Once due diligence is successfully completed, term sheets and agreements will be drafted for approval. After final clearances, the capital will be disbursed. Post-funding, quarterly review calls will be held to ensure continued alignment and support.

How long is the funding process at TCA?

Depending on the complexity of the venture, the funding process can take anywhere from 4 to 6 months from start to finish. Our goal is to complete due diligence as efficiently as possible while ensuring a thorough evaluation of the business. Entrepreneurs can help accelerate the process by preparing key information in advance, being readily available for meetings, and proactively driving communication and next steps.

What is TCA’s average ticket size?

On average the funding would range between Rs. 50 Lakh to Rs 3 Crore. TCA Investors may invest more, or less, depending on the funding requirements of the company. If the investment size is larger than average, TCA may syndicate the investment with other investor groups.

Does TCA Sign NDAs?

TCA does not sign NDAs. TCA shares all plans received by it exclusively with its members. TCA members in turn, sign an undertaking with TCA. All members are bound by the undertaking.

What are the charges to the entrepreneur for raising funds through TCA?

For deals invested by TCA, there is a deal facilitation fee of 2.5% of the total funds raised.   

Due diligence costs (financial, legal, and business) are charged at actuals by agencies appointed by TCA.

Does TCA invest in competing start-ups?

TCA reserves the right to invest in competing start-ups. However, to ensure confidentiality and information protection, TCA lead investor(s) who are in the Board either as Director or Observer will not participate in the fundraise initiated by competing start-ups.

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Know Our Criteria

Chennai Angels Network Association (TCA), formerly known as Chennai Entrepreneurship Trust Fund, is a group of angel investors keen to facilitate early stage enterprises to grow by providing funding and mentoring support.

The Angels agree to the following terms governing the group and membership:

MEMBERSHIP

  1. TCA has four classes of membership:
    • Lifetime
    • Individual
    • Institutional
    • Corporate
  2. . Lifetime members are the following eleven (11) members who founded the organization and contributed an initial corpus of Rs 5 lacs each:
    • Chandrashekar KB
    • Gopal Srinivasan
    • Kumar N
    • Pandiarajan
    • Prabhakar Ram
    • Raghu Rajagopal
    • Ram Mohan
    • Ramaraj R
    • Reddy GRK
    • Srinivasan HR
    • Suresh Kalpathi
  3. Individual membership is provided to individuals initially as invitation membership, followed by confirmation typically after a year, in their personal capacity and not as nominees of an institution. Participation by individual members in meetings will have to be personal and not through nominees. Investment by individual members will have to be made in their personal names, or jointly with members of their immediate family or through wholly owned enterprises/trusts.
  4. Institutional membership is extended to venture funds and investment bankers. They can nominate up to a maximum of three nominees to represent the institution in members’ meetings. Investment by institutional members will have to be made in the name of the institution (and not an affiliate of the institution). An institutional member has just one vote whenever a voting takes place to be exercised by the nominee present or by one of the nominees if more than one nominee is present.
  5. Corporate membership is extended to corporates who wish to invest through their companies and involve members of their companies. They also can nominate up to a maximum of three nominees to represent them in members’ meetings. A corporate member has just one vote whenever a voting takes place to be exercised by the nominee present or by one of the nominees if more than one nominee is present.
  6. TCA would be administered by an Executive Committee (EC) selected from amongst members/nominees (angels) with each member carrying one vote.
  7. Admission into membership is decided by Membership Committee (nominated by EC) based on sponsorship by at least one angel. The Member represents to TCA that:
    • Member meets the eligibility criteria to be an angel investor capable of making investment decisions and protecting such investments without the standard protection available under Securities law to general investors.
    • Member understands that TCA, its members, employees and advisors are not responsible for any information, recommendation or advice leading to an investment; for monitoring or protecting the investment; or for any losses or damages suffered directly or indirectly from the investment.
    • Member alone is responsible for understanding and verifying investment case, making investment decisions and monitoring and protecting investments. There is no agency or partnership arrangement between Member and TCA (or its members, employees and advisors).
    • Member understands that there is no obligation for Member to invest in every deal presented to TCA. Members are free to not participate in any deal presented to TCA without having to explain reasons for their decision.
    • Member understands that Angel Investments are extremely high risk and notwithstanding the due diligence there is very high probability that the entire investment will be wiped out. Member represents that he/she has the ability to withstand such loss.
    • Member agrees not to make any claim on TCA or on any other member for any such losses and agrees and confirms that such decisions are being taken by the member individually after due consideration of all facts.
  8. Every angel is expected to:
    • Attend at least 75% of the TCA meetings in a calendar year in person or over phone.
    • Invest in at least one deal every financial year.
    • Participate in at least 50% of the weekly screening calls, whenever requested.
    • Act as deal champion to take promising deals through to conclusion, as may be requested by Deal Sourcing & Evaluation Committee.
    • Aid and mentor investee companies and their management in successful conduct of their business, in their capacity as TCA rep Director, Observer or simply as a mentor.
    • Represent TCA in events, seminars, conferences as may be requested by a member by the Executive Committee or CEO of TCA.
    • Aid and assist TCA objectives to the greatest extent possible, including by sourcing good deals.
    • Confirmation of invitation members is normally expected to be done after a year of active membership during which period the member is expected to have made investments aggregating to Rs. 20 Lacs. Failure to comply may be considered by EC as reasonable ground for revocation of membership.
    • Membership can be revoked by EC for breach of terms; for failure to keep up commitments to invest or pay fees; and for other reasons determined by EC. Membership can be terminated by the member also at any time. Membership fees once paid will not be refundable.
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Investment Process

  1. Applications shall be received in a standardized format, made available to Angels and shortlisted for presentation by entrepreneurs to Angels in TCA meetings scheduled from time to time.
  2. Angels interested in a deal shall elect one or more deal-champions who shall engage with the entrepreneur to evaluate the prospect and crystallize valuation, structure and closure.
  1. All discussions with entrepreneur shall be through or with the knowledge of the deal champion.
  2. EC should be kept in the loop by circulation of minutes of meeting.
  3. Declines shall be communicated promptly to entrepreneurs.
  4. Term Sheets shall be offered in standardized format (variations will have to be referred to EC) and signed by deal champions and entrepreneurs.
  5. The term sheet and business case shall be presented to all Angels for offers for subscription within 10 days. In the event of oversubscription, allotment shall be proportionate. In the event of under subscription, the deal shall be turned down unless any Angels are willing to fill the gap.
  1. Investments would be made by individual angels directly into enterprises or through an LLP. TCA would be just a facilitator ensuring standardized terms, coordinated mentoring and tracking.

Conflict Of Interest

  1. Any angel participating in any event on behalf of TCA would have to represent the interests of TCA (and not the interest of the angel) and provide a prompt feedback to TCA after the event. Event includes a meeting to encourage, identify or evaluate investment opportunities.
  2. Any angel having any conflict of interest with a proposed investment should disclose such conflict as early as feasible. Angels with conflict of interest shall not:
  3. participate in any presentation, evaluation or discussions about such investment and
  4. Seek/gain access to any confidential information about the prospect, the investment case or deal terms.

Conflict of interest includes

  1. Ownership, substantial investment, management, or board membership in a directly competing business enterprise
  2. Arrangement of a reward (in cash, equity or position) contingent upon investment by Angels
  3. Relationship or business association with entrepreneurs applying for investment
  4. Competing consideration of an investment outside TCA (unless the Angel is willing to now invest only through and with TCA on identical terms)
  5. Angels shall not circumvent TCA and have parallel discussions with entrepreneurs for investment outside TCA while TCA is considering a deal with the entrepreneur unless authorized or invited by TCA to do so on behalf of TCA as Deal Champion or as an Investing Angel.
  6. Angels are free to engage with entrepreneur directly once TCA rejects an investment proposal.

Confidentiality

  1. In the course of evaluation, presentation or discussion, Angels may receive confidential information relating to identity startups, entrepreneurs involved, the need for funding/mentoring support, business objectives/strategies, business models, investment case, deal size, deal structure and deal terms. Angels shall not:
  2. use such confidential information for any purpose other than the purpose for which such information is disclosed to them
  3. treat such confidential information with lesser care than that with which they would use confidential information relating to their own business
  4. The obligation of Angels under “Conflict of Interest” shall survive the termination of membership for a period of five years.

Responsibility

  1. The decision to invest shall be that of each Investing Angel.
  2. The responsibility to monitor and protect investments made is that of each investing Angel.
  3. Be construed as an Advisor for the investment.
  4.  Be construed as recommending or not recommending an investment.
  5. Be responsible for reliability or accuracy of any of the representations made.
  6. Be responsible for investment case of or terms of investment into an enterprise.
  7. Be responsible for monitoring the progress of an investment or protecting the investment.
  8. Be responsible for any loss or damage suffered by an Investing Angel.
  9. Nothing in this shall be construed as a partnership or agency arrangement amongst TCA, EC, Investing Angels, Sponsoring Angels and other Angels.
  10. The terms can be changed by EC from time to time so long as they pass the test of fairness and are applicable to all members.
  11. In any conflict between these membership terms and the membership undertaking signed by members, the undertaking prevails over the terms.
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