What is Galaxy?
Galaxy gives founders in India their first fund and teaches them the craft of angel investing. Founders get capital, mentorship from leading angels and access to a community of elite LPs.
Why should I apply?
Entrepreneurship is a career that goes from founding startups to investing in them. You may start one or two companies over your career—but you can invest for a lifetime.
Most founders invest in companies they’re already helping, so they get compensated for their time and align incentives. Founders also get better at running their company after sitting on the other side of the table.
Who should apply?
You should be:
- A current founder of a technology company with deep knowledge of your market; the typical founder has raised a Seed round or later from notable VCs
- Based in India
- Passionate about learning the craft of angel investing and helping other founders
You don’t need to be Indian to apply. We’re particularly interested in technical founders who have access to compelling early-stage companies due to their reputation and expertise.
What’s the time commitment?
The time commitment is about the same as taking a board seat at another company. There’s no pressure to invest—you can invest at your own pace and remain focused on your own company. Most participants invest in companies they’re already helping.
Is Galaxy free to join?
Galaxy is free to join—there are no fees of any kind.
Is Galaxy connected to Spearhead?
Galaxy is inspired by Spearhead but not formally connected to it. Spearhead has graciously shared their knowledge and web design with us.
What are the terms of this site?
Please see the Terms.
When is the application deadline?
Applications close on December 15, 2022.
How many people will be selected?
Galaxy intends to select 10-15 founders across the first two cohorts.
Do I need investment experience?
You don’t need investing experience, but you should have access to high-quality, early-stage dealflow. We’ll teach you how to invest.
Can I have other jobs while participating in Galaxy?
You should have a full-time position as a founder of a company. You should invest at your own pace and remain focused on your company. Most participants invest in companies they’re already helping.
Can I apply if I live outside of India?
Galaxy is currently focused on founders based in India. However, you don’t need to be Indian to apply.
If I am not selected can I apply again?
If you are not selected, you can apply to the next cohort in 2022.
What is the process after I apply?
We will review your application and, if you are a fit, we will invite you for an interview.
Will I need to travel for the interview?
No, we are conducting interviews remotely.
When will I find out if I am accepted?
We will let you know if you have been accepted approximately three weeks after your interview.
When will programming start?
There is minimal programming because founders are busy running their own companies. They don’t have time for lectures or get-togethers, nor do they learn much from them. You will learn by making investments and getting real-time feedback from the Galaxy team.
How much capital do I receive?
Each founder starts with a $1M fund, with a first tranche of $500K. After investing the first tranche, you will receive a second tranche of $500K, if you have adhered to the contract and investing guidelines.
If you make great investments, you’ll receive a second fund up to $2M. There’s also capital available for follow-ons in breakout companies in your portfolio.
What do I earn on the fund?
You earn carry on the fund, which means you get a share of the fund’s profit.
What types of companies should I invest in?
See the investing guidelines.
How often must I update Galaxy on the portfolio?
We will discuss your portfolio once a quarter—on the phone or in person.
Will my Galaxy investments be made public?
Your investments will not be made public unless you announce them publicly. The Galaxy team and Galaxy’s investors will know about your investments and will be subject to non-disclosure agreements.
Can I invest in deals with other founders in my cohort?
We discourage you from co-investing with founders in your cohort unless you share domain expertise or you both know the team well.
Can I take advisory shares in companies where I invest?
In the rare case that you take advisory shares, they should generally be pledged to your fund.
What am I agreeing to by joining Galaxy?
You agree to the Galaxy contract. You also agree to not “cherry-pick,” which means that you will make all your tech investments from your Galaxy fund while it has capital.
Will I be listed publicly as a participant of Galaxy?
Some participants are disclosed. We can make exceptions as needed.
How will I know if I met expectations for another tranche of funding?
The primary criteria is investing in high quality pre-seed and seed companies in your domain or in teams you know well. Your portfolio should have an average pre-money valuation below $15M. We will discuss further on our quarterly calls.