Negen Angel Fund
Key People
Neil Bahal
Founder & Fund Manager
Investment Objective
To deliver superior risk-adjusted returns by backing scalable, unit-economics-positive Indian consumer and tech brands, capturing growth while capping downside linked to burnrate or valuation froth.
Track Record (Select Metrics)
| Company | ARR Growth Since Investment | Latest NAV* | Status |
| Burger Singh | +154 % | ₹224.44 (+124 %) | Active |
| Burma Burma | +158 % | ₹121.17 (+21 %) | Active |
| WLDD | +200 % | ₹119.14 (+19 %) | Active |
| R for Rabbit | + 76 % | ₹128.43 (+28 %) | Active |
| Aham Housing | + 90 % | ₹119.87 (+20 %) | Active |
| New Jaisa | – | Exit at +95 % price uplift | Realised |
Base NAV = ₹100. Past performance is not a guarantee of future returns.
Investment Strategy
- Profitability First – invest only in EBITDA-positive / breakeven start-ups to reduce follow-on funding risk.
- Valuation Discipline – minority stakes at rational multiples; avoid hype rounds.
- Curated Deal Flow – cap at 5–7 deals annually so each can be fully diligenced and transparently presented to LPs.
- Co-Investment Alignment – significant GP commitment alongside LPs ensures alignment.
- Active Engagement – marketing intelligence, governance mentoring and publicmarket network access for eventual listing pathways.
Investment Philosophy
Negen insists on sound unit economics, moderate leverage and prudent governance from dayone, believing these pillars compound value more reliably than headline GMV growth.
Key Terms (Angel Fund-Specific)
| Fee / Term | Detail |
| Annual Platform Fee | ₹29,500 incl. GST – payable until final exit |
| Deal-wise Management Fee | Up to 1 % (one-time) of invested amount |
| Carry / Profit Share | Up to 15 % on profitable exits (deal-wise) |
| Minimum Commitment | ₹25 L (Category I Angel Fund regulatory floor) |
| Tenor | Per-deal; typical holding period 3–5 yrs |
Deal-Sourcing Edge
• Pipeline leverages Negen PMS’s public-market networks & channel checks.
• Proprietary brand-equity screen filters for unit-level repeat purchase ≥ 60 % and gross margin ≥ 40 % (internal KPI).
• Access to pre-IPO SME pathways via broker relationships – evidenced by New Jaisa’s NSE-SME listing and timely exit.
Risk Mitigation
• Zero exposure to loss-making “blitz-scale” plays.
• Transaction-level SPVs ring-fence each deal, insulating other positions.
• Quarterly MIS & NAV statements; independent valuation once a year.
Ideal Investor Profile
• Angels and family offices seeking hands-on selection authority yet professional vetting.
• HNWIs who value profitability discipline over high-burn hyper-growth.
• Investors looking to diversify public-equity portfolios with curated private-brand exposure.
Do Not Simply Invest, Make Informed Decisions
WISH TO MAKE INFORMED INVESTMENTS FOR LONG TERM WEALTH CREATION
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a call with our PMS AIF Specialists
