Shriram group eyes roles as angel investor

Chennai-based financial services major Shriram group is looking to become an angel investor.

"We want to support entrepreneurs - someone with a business plan or a concept," said Arun Duggal, Chairman, Shriram Capital Ltd, the group's holding company.

The group is looking at investments in the region of Rs 50-60 lakh per deal.

"We will go by the entrepreneur and his idea and we are open to being flexible with the ticket size. If the idea is very good we will not mind investing even Rs 2 crore," said Duggal.

Currently, if an entrepreneur needs angel funding, he would need to convince a dozen or more investors. Not all of them think alike.

"In our case he will have to convince just the company," said Duggal.  The idea is still in the "initial thoughts" stage and the size of the investments and other details have not been firmed yet, added a group official.

Shriram group's customer base exceeds nine million and it has in excess of Rs 60,000 crore in assets under management. It is the largest player in the truck financing sector.