Abhishek Jayaram

Zepto announces its $ 665M Series F financing at a $3.6bn valuation yesterday. They started as KiranaKart (part of YC's W21 program) & re-branded to Zepto; the firm has defied all funding winters with crazy momentum ⤵️ June '20: $50K Contrary Capital fellowship Nov '20: $125K YC W21 program  Jan '21: $700K Seed round Oct '21: $60M Series A/B round Dec'21: $100M Series C round May '22: $200M Series D round Aug '23: $200M Series E round Zepto's investors include Y Combinator, Nexus Venture Partners, StepStone Group and even Glade Brook Capital (former investor in Zomato). 📈 And, their metrics in the last few months have been astounding: (1) ~4.5M (i.e. 45 Lakh) Zepto Pass subscribers in 3 months - Initially this was free, then they began charging > ₹99 per month (2) 75% of ~350 dark stores are EBITDA positive - Time to EBITDA breakeven per store is down from 23 months to 6 months (3) ~28% market share in Quick Comm - Impressive given they are an independent company (versus Instamart or Blinkit) ✅ And, Zepto is just getting started:  (a) Entry in non-metro cities next (b) Entry into private label (Zepto Cafe & Meats) (c) Going to x2 the number of dark stores ➡ What I've seen lately in the key metro cities: There is a shift from e-comm to QC. I think it is only going to accelerate as QC co's bring in more categories & tap into long tail SKUs via larger warehouses.. Product searches first moved from Google to Amazon, now they may move from Amazon to Zepto et al. incredible to see how the Power Law plays out - these folks are going to change Commerce in India. Congratulations Aadit, Kaivalya + team Zepto! #startups #india #venturecapital

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"Do you have any questions for me?" Rinky Jain, Head of HR and TA at Jupiter, shares exactly what startups are looking for in an ideal answer. Want to hire thoughtful, capable, and hungry talent for your startup? Try Weekday. Our team works closely with you to source, shortlist, and screen best-fit candidates for your specific needs. Link in comments if you want to explore (get 5 free resumes within 24 hours).

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It's been a year since I began exploring a career in venture capital (VC). Initially, I talked to people outside the industry, which didn't lead me anywhere. However, I soon started building meaningful connections with those who've successfully navigated this path. I made an invaluable connection with Maulik Mehta, a Senior Associate at Arc Ventures in New York. With his extensive experience in VC and a genuine passion for supporting innovative startups, Maulik has been a dynamic friend and mentor, guiding me with insights and advice on breaking into the VC world. This interview discusses how to break into the venture capital industry. We talk about what makes you stand out, share tips for getting started, and highlight the importance of internships. We address common challenges and offer advice for overcoming them, especially for those from non-traditional backgrounds. We explore the skills VC firms look for and the role of mentorship. We also touch on emerging trends in VC and share valuable lessons learned. Give it a listen; I hope it helps those navigating the VC journey: https://lnkd.in/e8aKTqWJ #venturecapital #careers #vc #startupinvesting

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Continued: Lessons From the Trenches for Startup Founders: Flip It!   Over the past two years, I’ve spoken with several growth and late-stage startups that are legally domiciled outside India (e.g., in the U.S. or Singapore) but maintain significant operations in India. Many of these companies were drawn to the high valuations of U.S. tech firms in 2021, leading them to set up outside India. For those seeking my advice, I’ve consistently recommended flipping their domicile to India. Indian equity capital markets are well-developed, with mutual fund inflows steadily rising— October 2024 marked the 44th consecutive month of net inflows, totaling around $5.5 billion in that month. With abundant capital and a shortage of quality companies, Indian markets offer a valuation premium compared to other global markets. While tax implications are a primary concern, the valuation differential often makes the flip worthwhile. Indian markets will of course not sustain 2024’s high valuations indefinitely, but given India’s demographics, mutual fund inflows will continue increasing over the next 20 years, with some evident corrections along the way. There will be no shortage of capital for quality companies. On Nasdaq, companies with market cap of under $5-7 billion often struggle for attention from analysts and institutional investors; in India such companies get all the attention they deserve. So, work with your investors and make the flip.

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A few VCs with large seed cheques often view 'Capital' as a moat. And for good or bad, in many cases it does play out that way. In any large market, there are multiple high caliber founders trying to solve similar problems - some in different while some in similar ways. In such a scenario, the team that gets early access to larger capital has a natural advantage to strengthen and build a real moat. A founder from our portfolio company nicely put it- he can't afford to be the only rationale player in an irrational market.

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Optimising for survival vs valaution During my previous startup journey My Dream Store we grew from 3cr annualRevenue to 30cr annual Revenue in 24 months and we were on look out for series A of 5Mn usd , Talked to almost every VC in town by that time we have only raise an angel round of 300k usd only. Everything was green we were super ambitious , stayed in market for 3 months could not close . During this time there were few Angel groups who could write 500k to 1mn cheques but we thought it would be too small for our ambitions. We went back to building again - our growth began to drop and became flattish at 2cr monthly revenue , we went back to market to raise 2Mn after 1yr to market to a different set of VCs - very hard to raise on back of degrowth, we were willing to dilute more but yes could not close. Lesson learnt always raise when you are going to peak in the next 3-6 months. As founders we would be focused on growth during that cycle but it’s better to put more money in war chest. Back to story one more year passed on flattish growth, we did some working capital solves , cut expenses we de grew to 1.5cr monthly revenue . Was again out in market this time looking for Angels founder angels or syndicates to raise 500k to 2Mn to build back. I was almost on verge of giving up but then Sujayath Ali wrote a small cheque gave us hope to rethink and started building Nobero. Only a founder can truly understand the grit and struggle. Now Nobero is a rocket ship we are super excited along side strong partner like TMRW House of Brands . From my journey of fundraising failures here are something’s that other founders / people who want to start can pick up 1. Always raise when you are on the raise 2. Do not be finicky about valuation pick best of what you are getting and go back to building 3. Like you see in my essay I moved down from 5Mn to 2Mn to 500k , very foolish . In hindsight had I picked the 500k to 1Mn cheque when we were at 30cr the story would have been totally different . Pick whatever you can at best price you can close fast. The art is to close deal fast and move from position to position strongly on back of good metrics 4. Small cheques get large cheques , you are no longer alone in journey. It’s in interest of all parties to protect org and do what is right for org to grow 5. Fundraising is sales , be very strategic of what you offer -if you are degrowing offer a larger share, create phased offers milestone led - 500k to x size and if I hit X follow on with 2Mn if I do not grow to X be willing to take more hit on equity. Always offer what others cannot 6. Have some founders on your cap table who have been part of these , it’s millions saved #fundraising #startup #lessonsbuildingnobero

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Co-Build a VC fund in Public: Day 4 (and funding announcement) We not only co-build but invest too :) Today, at Ortella Global Capital - OG Capital, India's only fund that co-builds companies, we take our first leap into the future with Medial as our inaugural portfolio company announcement. This is not just an investment—it is a partnership with a vision to solve one of the most pressing challenges in the professional world. The tech and startup ecosystem are fragmented, forcing users to switch between countless platforms for news, networking, career opportunities, and meaningful insights. Medial changes the game, bringing it all together in one seamless, intuitive space. What drew us to Medial was the team. From our first meeting with Niket Raj Dwivedi, Aishwarya Raj Pandey, Prateek Kaien, and Harsh Dwivedi we saw a rare combination of audacity and discipline. Their commitment to profitability and monetisation from day one along with their relentless focus on user engagement, made it clear they were not just building a company—they were creating a movement. In just a few months, Medial has surpassed critical milestones: collaborating with top global partners, rapid growth, and extraordinary user metrics. But beyond the metrics, they are building a sustainable business with a clear-eyed vision and sharp execution that inspires us. This team is not just chasing trends—they are creating a legacy! This is why we exist as a fund: to back founders who dream boldly and deliver consistently. Founders like these remind us why we started OG Capital—to build alongside those who dare to reimagine what is possible. Thank you Prateek Agarwal (Pre-seed investor) for everything :) P.S.: Here is a snapshot of the moment when my co-founder, Rajvardhan Mohite and I, with pens in hand and excitement in our hearts, sealed the deal with Niket and the team. The start of something extraordinary, captured in ink and ambition. Docusign is too old school for us :P

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We have 20 spots open for our upcoming member-led knowledge session on 'How to get your first 10 customers' with Ravi Kaushik Rajagopal (Former Head of India Sales, Stripe). We'll dive deeper into writing your first sales pitch, defining your persona, TAM calculation, building an outbound engine, and more. This is a must-attend session if you're exploring or are early into building in the B2B space. RSVP via the link in the comments!

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We've been part of this journey with Vidur Kataria Sidhanth Madan & Radhika Mittal since the pre-seed round in 2020 (also closer to heart since this was the first deal from Fund II). The investment thesis for us was always very simple - we tried cooking Chinese food at home during Covid, and all that was available was "Ching's Secret Schezwan Fried Rice Masala" & it was surprising that the second most enjoyed cuisine in the country is Chinese & we have just one brand that catered to this audience. Then we ended tasting the Masterchow sauces & we were just floored to see the difference in quality and taste. Having said that, the thesis that we believed in, didn't ring a bell with a lot of folks that we spoke to in the last 4 years. These were the top reasons why VCs hesitated -> 1) Market size is not large enough - Our belief was that the market appeared to be small, because the only brand available thus far was Ching's. Then Ching's got sold to Tata for ~5500cr, then noone questioned the market size any more. 2) Products are too expensive - Their sauces which was the first category they got into - was priced at ~Rs.240. Lot of people thought that this was expensive for India. But that was just the first category, after that in just last 2 years the founders have innovated on the product (Cup Noodles, Ramen, Chilli oil) and made products cheaper (Masterchow Staples, Chowmein, Schezwan). But I'm glad we got some believers along the way in the form of Anicut Capital LLP & Surge. And now, Tanglin Venture Partners. The founders continue to surprise everyone & I believe they'll do so in the future as well! #startup #funding #fmcg https://lnkd.in/g2wdAvmx

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Rebalance Cohort 07: Introducing Ajay Pal Singh Sethi and Hanit Awal who're building CUR8 Labs. Apart from being kickass operators with extensive experience building products, leading teams at scale, they're grounded and always eager to listen! Ajay and Hanit were recently part of Rebalance's 7th accelerator cohort that concluded in August 2024. Hearing what little difference we made is the best part of running an accelerator for Vikas and me. These are usually surprise videos since we aren't part of them when they're getting recorded and it truly does make it all worth it! Applications for Cohort 08 are closing soon, apply on this link if you're a female-founded/co-founded startup and are looking to accelerate your journey from 0-1 or raise capital: https://shorturl.at/45z7W (only for companies with a female founder) Cur8 is building the smartest sales enablement platform that leverages AI to revolutionize how sales teams operate and win, globally. Cur8's software seamlessly integrates into existing operational workflows to enhance sales productivity and performance. Imagine, if every sales agent had tiny intelligent whispers/nudges during their call! 🤔 $3.1 trillion is at risk as global industries face a massive revenue shortfall due to poor sales experiences. 😱 The sales engagement and co-pilot platforms market is one of the fastest-growing segments, with a 15% CAGR. Sales-tech is getting disrupted at every level with no clear winner yet - it would be interesting to watch how Cur8 takes its share of the market, globally! You can watch the video below or on YouTube: https://lnkd.in/gww9eNuJ Shot by: Nayanika singhania

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There are two types of #startupfounders- 1. Extremely Foolish 2. Extremely Genius Ngl, this is what i used to think…however, lately i’ve realised that there’s actually only one type, the former. You have got to be extremely foolish (and borderline insane) to willingly let go of a much more comfortable and easier life in exchange for a decade of 24-hour work days and stress. If you do the math, it’s never a “smart” decision, considering how big a factor “luck” is, for any successful startup. So when an extremely foolish founder starts a company, which is statistically 90% likely to fail, there’s a small possibility that they could survive long enough to see it become successful and then be labelled as a “Genius”. Remember, “Genius” is only in hindsight, never in foresight. I guess this is why Steve Jobs said-

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Indian venture market has exploded. Someone reported that there are 800+ funds/networks/syndicates/ accelerators active in Indian venture market now. Not sure, if that number is correct but if you are an early stage tech founder on your fundraise journey, chances are, you would meet hundreds of people. While majority of the fund houses are doing incredible work and shaping the ecosystem. There are certain kinds of investors you need to identify & avoid to save time and stay focused: Sharing from my personal experience, top 5 such cohorts to avoid and the takeaways for the founders: 1. Data collectors: At early stage, you don't have historical data to present. Your projections are just that, Projections. I wasted one whole week discussing with a prospective angel investor on why the CLTV to CAC ratio is x, and not y. Takeaway: Discuss high level strategic numbers only without going into the details. None of the projections would be accurate anyway when rubber hits the road. 2. Document collectors: Met few folks, who would watch from the fences and ask for n number of documents, data rooms, statements without sharing the purpose of the ask or even revealing their investment intent. Takeaway: It is supposed to be a bi-directional conversation. Say 'no' often, till the time, an official relationship is established. 3. Valuer (! investor): At early stage, valuation is a function of multiple parameters, the opportunity itself, the team, or anything else except steady cash flows, because you don't have much. I wasted another week with a prospective investor trying to justify valuation, had to shut down that conversation, after both of us started quoting Aswath Damodaran and his valuation principles. Takeaway: Too much content on the internet for both parties anyway. Shouldn't be a bone of contention at early stages. 4. Facilitators posing as investors: Met numerous people, who would go to any lengths to pose themselves as serious investors, even buying paid media articles. Only to reveal at the last: The success fee. Takeaway: Avoid facilitators until Series A 5. Brokers posing as market makers: People posing as market makers sharing tons of gyaan on LinkedIn but are actually deal brokers looking to make quick %. Personal experience: Two rounds of conversation happened and then out of blue, they added a third party in the mail trail, someone who facilitates mergers & acquisitions. There wasn't even a single instance in the past conversations where we indicated any such intent. Takeaway: Avoid name & shame in public but at least share within founder communities. #venture #fundraise #startups #investing

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Last 2 days to apply to Antler India Residency #5 for Individual Founders - Applications are due Aug 2nd 2024 (Friday) Over the past few months, we have had over ~10,000 individuals and early teams apply to the Residency. Of these, a few exceptional founders have been selected to join the Residency. We’re super stoked to help them get initiated on their building journey - the cohort starts on Aug 20th (Tuesday). We are finalising the last ~30 folks for this cohort over the coming days.If you’re an individual/solo founder considering applying to the Residency, here’s a glimpse of the exceptional cohort of founders you could potentially build alongside - > Domain experts from a variety of sectors, including Legal Tech, FinTech, Edutainment, B2B SaaS, Consumer Tech, Health Tech etc.; there’s also a good mix of founders building in innovative spaces, including SpaceTech, Robotics, BioTech, Pet Care, Compliance Tech, and more > Many have held leadership positions (across Tech/Business roles) at the best unicorns and soonicorns of India; we also have a good number of technology builders from some of the top tech companies including Google, Meta, Amazon, and Oracle > The cohort also includes repeat founders and serial entrepreneurs with a track record of raising institutional capital from marquee investors in their previous ventures

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Raised $26,000,000 with just an idea Lyskraft India Pvt Ltd - the latest kid in the block! So, Mukesh Bansal is back with another startup this time with Mohit Gupta, the former CEO of Zomato's food delivery arm. In July of last year, there were reports about Bansal and Gupta raising funds for a new venture. As per TechCrunch, both of them pitched a range of ideas to potential backers like a female-focused counterpart to Manyavar and "Infosys 2.0" a presumed upgrade to a multinational IT services and consulting firm. Now finally... The news is out and we know what they are building, Lyskraft: initially a women's only marketplace for premium brands mostly focusing on Gen-Z shoppers. Recently we have seen giant e-commerce platforms launching dedicated portals to attract GenZ shoppers, like SPOYL launched by Flipkart within its app, FWD by Myntra, also we are seeing the growth of new-age startups working in this space like Virgio(Mukesh Bansal is an investor in it), Newme(recently raised $4,500,000), Absolute Brands, Snitch, Styched and many more As per Inc42's Report, India's fashion and apparel sector is projected to reach a mouth-watering $112 Billion by 2030, which will be over a quarter of the country's $400 Billion e-commerce market!! Let's be honest, anyone will want a piece of this market. As we are already aware of how crowded this space is, let's see how Lyskraft differentiates itself from others. Mohit Gupts and Mukesh Bansal, in this crowded space building a community around your product, building digital IPs, and creating experiences through videos are the ways to elevate your brand to the next level. I the founder of Elevate would love to connect and assist Lyskraft in building a community, digital IPs and help create experiences through videos, if that sounds like something that interests you would love to connect and discuss!! sources of information : TechCrunch article 2021 - https://bit.ly/49UwkLI Inc42 article - https://bit.ly/3w0SDlb #mukeshbansal #myntra #fashion #startups #venturecapital #fundingwinter #norevenue #cultfit #community #communitymarketing #socialmediamarketing #india

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You'll always question if the market is overvalued. And that's okay. Let me explain. I felt this deeply when analyzing the Indian markets recently. The numbers were clear, but doubts lingered. I started to think: - Are investors paying too much? - What does this mean for future growth? - Should I be cautious or optimistic? I wish I could tell every investor; It's a complex picture. I took a deep dive into the data and found some insights. Often, markets are a mix of signals. Not always clear, but often. These are the steps I took to understand the valuation: → I looked at the P/E ratio. The SENSEX's P/E ratio of 23.88 is high. Investors are paying a premium compared to historical levels. → I checked the Buffett Indicator. India's market cap to GDP ratio is 102.75%. This is above the 10-year average, suggesting overvaluation. → I analyzed foreign investor activity. In October 2024, foreign investors sold $8 billion in Indian stocks. This was the largest outflow since March 2020. → I reviewed expert opinions. Some experts, like Mark Matthews, express caution. Others point to strong GDP growth as a justification for high valuations. So, while some indicators suggest overvaluation, the economic fundamentals offer a different story. On one hand: - NIFTY trades at ~20x forward earnings vs historical average of ~17x - Small/mid-cap valuations are significantly stretched - FII ownership remains high, risking potential outflows - GDP numbers warrant scrutiny given base effects However: - Corporate earnings growth remains robust (15%+ YoY) - Banking sector NPAs at decadal lows - Domestic retail participation provides valuation support - India's consumption story and demographic dividend remain intact According to me, the key is bottom-up stock selection rather than index-level calls.

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Here's a book I wrote in the last few weeks, that encapsulates my learnings from 17 years of running high growth startups like redBus, Koo, The Media Ant and Goodbox. Hosting a version of it online for anyone who'd want a condensed boost of startup tips this weekend. It's called '500 Tips for Startup Founders & Employees'. Penning this down is a way to give back to all those in the trenches, making things happen. Sharing an unpublished version for the good folks here. Covers over 100 topics related to starting up, early stages, founder related, people related, growth related, product related, management related and personal aspects. If my effort of painstakingly recollecting and writing these learnings can get more folks to startup and improve an entrepreneur's chances of success, I'll be honoured.

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5.1 Years to Billion Dollar Dreams: India's Startup Boom Accelerates Forget the seven-year itch. In India's booming startup scene, achieving unicorn status (a valuation of over $1 billion) is happening at breakneck speed. While Inc42 Media reports a median time of 5.1 years, some startups are reaching this milestone in mere months! This lightning-fast growth is a testament to the incredible maturity of India's entrepreneurial landscape. Gone are the days of waiting years for billion-dollar valuations. Today's market is a launchpad for ambitious ideas, fueled by increased investor interest and a growing pool of tech talent. Of course, the past two years haven't been without their challenges. Market corrections have slowed the overall pace of unicorn creation. However, this doesn't diminish the underlying trend: India's startup ecosystem is undergoing a revolution, with innovation happening faster than ever before. This is a powerful moment for Indian entrepreneurs. The time is ripe to seize the opportunity and build the next generation of global giants. What do you think of India's Startup Ecosystem and journey to 100+ unicorns? Is it time to forget Silicon Valley? Is India the New Startup Capital? Share your insights in the comments below! 🔖Save this post, for future reference 🔁Repost to help others If you liked this post,give a 👍Follow me Monica Jasuja #startups #india #unicorns #digitalindia #fintech

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𝐆𝐌𝐀𝐓 715 𝐢𝐧 𝐉𝐮𝐬𝐭 40 𝐃𝐚𝐲𝐬 | 98𝐭𝐡 𝐏𝐞𝐫𝐜𝐞𝐧𝐭𝐢𝐥𝐞 𝐢𝐧 𝐃𝐚𝐭𝐚 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 Fewer than 1% of the GMAT test takes get to a score of 715. Achieving this in a mere 40 days is almost a rarity. Yet Siddharth did just that – he not only scored a brilliant 715 (99th percentile) with a perfect Q90 but also a phenomenal 98th Percentile on Data Insights. In this video https://lnkd.in/e_9yxjZq, we delve into the key elements of Siddharth's impressive GMAT success story: 1. 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠: Siddharth ’s journey to the top 1% involved ____. Discover what they were and how he identified these and fulfilled them to achieve the top GMAT score in just 40 days. 2. 𝐃𝐚𝐭𝐚 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐬𝐭𝐞𝐫𝐲: Six of the nine milestones were DI-specific. Siddharth not only completed all these milestones efficiently but also excelled in each of them, achieving 80%+ accuracy for hard questions across the DI sub-sections. 3. 𝐏𝐞𝐫𝐟𝐞𝐜𝐭 𝐐𝐮𝐚𝐧𝐭 𝐒𝐜𝐨𝐫𝐞: While many students are good at quants, only a few of them get a perfect Q90 score. Uncover the focused strategies behind Siddharth’s preparation that led to a perfect Quant Score. 4. 𝐓𝐚𝐜𝐤𝐥𝐢𝐧𝐠 𝐭𝐡𝐞 𝐭𝐞𝐬𝐭: Siddharth faced many challenges – from setbacks in previous attempts to test day anxiety. Learn how he overcame each of these challenges and performed exceptionally well on the test day. If you want to learn how to improve your score and excel at your GMAT dreams, then do not miss out on this incredible session! Take the first steps toward writing your own GMAT success! Payal, Abhinav, Atul, Satish, Sanchari, Shubham, Akash, Abhishek, Rida, Rashmi, Abha, Kanupriya, Prakriti, Mansi, GMAT Club, Siddharth, Manas

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Building on Mrunal Jhaveri's insightful reflections, I am compelled to share some thoughts on the dynamic landscape of venture investment through family offices—a domain not many venture into but one that holds immense potential for long-term impact. The road to establishing Ice.vc, as Mrunal describes, is paved with practical lessons that resonate across investment strategies and personal experiences alike. The clarity in focusing on core competencies rather than getting sidetracked by trying to offer everything to portfolio companies is something that resonates deeply. In an ever-evolving market landscape, flexibility and adaptability remain crucial. Furthermore, maintaining structured policies and decision-making frameworks isn't just a best practice; it's imperative for avoiding unnecessary disruptions. Clearly defining roles within the family office setup, just as Mrunal does with his brother, ensures seamless operations and clarity in execution. The essence of this journey, however, transcends financial metrics. It is about aligning investments with personal values and the overarching vision one cherishes—creating a legacy that's more meaningful than mere numbers. These insights continue to shape the future of investments and offer a beacon for those brave enough to innovate and invest in line with their own values.

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