Acculi Labs Raises 1Cr Angel Investment Trench from Public through PAIO
We raised Angel round of 1 Cr from 119 retail angel investors through our new Angel fund raising instrument PAIO(Public Angel Investment Offer for Private Placement).
PAIO is based on standard CCD which brings in several regulatory, compliances and clauses to protect the interest of both the company as well as the investors.
The entire fund raising process is first published in the public domain, with company’s vision, mission, past financials and what the company wants to do with the funds.
Investors are then invited to subscribe to the initial offering with an investment bracket of INR 10k, 25k, 50K, 1L, 2L, 2.5L, 5L and 10L. PAIO gives a provision to top-up the investment 3 more times in a year based on company’s performance.
195 Investors subscribed for our initial offer. The instrument, which is a convertible debenture promises an annual coupon rate of 15%, 20% discount on the valuation, to be done within three years.
The instrument protects the interest of the investors by prohibiting the company to spend more than 8.5% of the raised capital in a month. It also makes it mandatory for the company to generate atleast 20% revenue over the spent amount.
The company talks to each subscribers over the phone and explained them the risks and benifits clearly. The subscribers were sent company deck, documents, financials, plans. Based on value alignment, 135 investors were selected to invest in the company, out of which 119 investors have invested 1Cr so far in the first trench, out of annual committed investment of 3.2Cr.