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The association plans to expand India’s angel investor base from around 1 lakh currently to 1 million.
The funding round also saw participation from Astir Ventures, Venture Catalysts Group, and angel investors Bhavik Dholakia, Vishal Shah, Varun Patel, Viraj Lavingia, and Bhavin Sodavadiya.
The funding round saw participation from Venture Catalyst and SucSEED Indovation Fund.
Each member of the alliance will commit "meaningful private capital" over 5-10 years to India-based deep tech companies.
The primary challenges that led to Plus Gold's closure included excessive operational expenses and the capital-intensive nature of the gold investment business.
The round was led by Pentathlon Ventures, with participation from Yatra Angel Network and from existing investors 100Unicorns and Venture Catalysts.
The round was led by Antler, 9Unicorns, and Venture Catalysts, with participation from several angel investors.
