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2, 5-hexanedione, 3,4-diacetyl, and ethylenediamine were condensed to obtain novel Schiff base ligand. Ni(II) and Co(II) complexes have been synthesized by reacting ligand with hydrated metal salts in a 1:10 ratio. Elemental analysis, IR, 1HNMR and mass spectrometry revealed unique structure, a cyclic decamer, of ligand and metal complexes. Synthesized compounds were screened for anti-microbial character against fungi viz. Aspergillus niger and Trichophyton rubrum and bacteria viz. Staphylococcus aureus and Klebsiella pneumoniae, using well plate diffusion method. Investigation of antiangiogenic activity was done by CAM assay using chicken eggs. Biological activities of ligand found enhanced after coordination with metal ions.