GoodWorkLabs launches GoodWorks Angel Fund to invest up to $200,000 in 10 startups by FY22
Led by serial entrepreneurs, Vishwas Mudagal and Sonia Sharma this GoodWorks Angel Fund aims to support startups and entrepreneurs across various domains.
Serial entrepreneurs and founders, Vishwas Mudagal and Sonia Sharma of GoodWorkLabs announced the launch of GoodWorks Angel Fund — an early-stage venture capital (VC) fund and investing venture, which aims to invest in at least eight to 10 high-potential startups across the globe every year.
Depending upon the nature, requirement, and future prospects of the respective startups, the investment ticket size per company will vary from $20,000 to $200,000, the announcement read.
Since the tech adoption and contactless experience became critical for every sector amid COVID-19, the duo has stepped in to help the startup community to bring in innovative business models, products and solutions to address this opportunity and need in the market.
Vishwas Mudagal, Co-founder, GoodWorkLabs and GoodWorks Angel Fund, said,
“Commencing a funding venture has always been on my bucket list. With the launch of GoodWorks Angel Fund, we aim to recover, regenerate, remodel, and grow the startup community again, despite the injury. I, along with Sonia, are striving to improve the start-up ecosystem, for all of us to prosper collectively. I look forward to standing with startups and budding entrepreneurs who intend to ‘dare mighty things’ and aim to create a better world through their futuristic products and solutions.”
While investment and funding are the core aspects of GoodWorks Angel Fund, it will additionally provide startups and young entrepreneurs with a wide range of professional service offerings. With the new angel fund, Vishwas and Sonia aspire to create a plug-and-play work ecosystem for startups, by taking care of their office space, technology, operations, marketing, and other support services that are critical to scaling up businesses.
Sonia Sharma, Co-founder, GoodWorkLabs and GoodWorks Angel Fund, says,
“Providing a holistic service - investment and support will help us create a meaningful startup ecosystem. This will not only help budding entrepreneurs financially, but also at the strategic business level. After running several startups for years, I can deeply relate to every entrepreneur with a dream, who needs investment, support, and motivation to grow. Therefore, we aim to stand with the startup community come what may, and help them fight all disasters, whether natural or man-made. We will enable self-empowerment in them, for them to make their dreams a reality.”
GoodWorks Angel Fund is the duo's third venture together. Vishwas and Sonia started GoodWorkLabs in 2013, an IT products outsourcing firm, which has Mercedes-Benz, Flipkart, CureFit, Licious, Myntra, WhitehatJr and Hindustan Unilever, among others as its client base. In 2017, they started a co-working space brand called GoodWorks Cowork, and now they aim to foster startups, MSMEs, and budding entrepreneurs.
Edited by Kanishk Singh