India: Some ‘angels’ treading startups space to launder black money

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September 12, 2016

I recently spoke to a reputed startup lawyer (let us name him ‘A’) in the capital who has worked with startups including two well known hotel room aggregators, a funded media startup and few e-commerce firms. He is also involved in deals with a well known real estate group in the country who is trying to dabble into tech startups. He gives a shocking revelation: “Startup investing has become a means to bring black money by some businessmen parked overseas into India.”