New Angels Rush To Prop Early-Stage Funding Slack

Sports stars, actors and young professionals are taking early bets on new startups

- Mansi Verma

A new breed of angels—sports stars, actors, and young professionals—is edging its way into investment territory as big-name startup investors go easy on early-stage funding. Data from Tracxn showed former Indian cricket team captain Mahendra Singh Dhoni-led with six investment rounds, followed by cricketer Ajinkya Rahane with three. Cricketers Sachin Tendulkar and Shikhar Dhawan backed two companies each, while cricketer Sourav Ganguly and tennis player Sania Mirza also contributed.

Badminton player P.V. Sindhu joined the list as the newest athlete angel last year with three investments in startups.

The sports icons are increasingly participating in early-stage funding even as the top three angel investors of 2023 reduced their investments in 2024, reflecting a pullback in angel funding to startups.

According to Padmaja Ruparel, co-founder of the Indian Angel Network, the profile of angel investors is broadening beyond wealthy entrepreneurs.

"Younger professionals with high-paying jobs are increasingly allocating funds to this high-risk asset class. It's remarkable to see angel investing mature into a bona fide asset class," she told Mint.

Dhoni holds a stake in drone maker Garuda Aerospace, electric vehicle (EV) startup EMotorad, EV mobility startup BluSmart, fitness startup Tagda Raho, among others.