Sanjay Mehta

"We bought a 13-acre piece of land in a village called Sikra in Kutch which is enough for us to reach a revenue of 500 crores." 🔥 Ep#08 of The India Opportunity Podcast with Aditya Aagare from Thermoflyde is out now! 🔥 Watch here: https://lnkd.in/g6JjrGq6 We talk about: > The market opportunity in the refractory space - north of $30 Billion USD globally > How Thermoflyde is aggressively growing its market share by taking on RHI Magnestia (a $3 Billion revenue-generating, publicly listed business) and has grown 100% year-on-year in terms of REVENUE > How starting up in college taught Aditya lessons about entrepreneurship the hard way > Focusing on customer service as a competitive advantage > Building an IPO-able, cash-flow-positive business > 500 Crores revenue in sight with current capacity and potential to grow much bigger > Aditya's goal of positively impacting 1000+ lives > How traditional manufacturing businesses can be multi-baggers over decades in the public markets > How kindness from angels helped them survive in the first 2 years Great episode for founders looking to build IPO-able businesses, with key insights into how to prepare your business at the earliest stages if IPO is an outcome you're working towards. Thermoflyde Industries Private Limited is destined to be a big success story emerging in the traditional manufacturing space and we're early backers via Swadharma Source Ventures - SSV. Thrilled to share Aditya's story with the world. #india #manufacturing #makeinindia #rhimagnestia #refractory #steelplants #ipo

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Here's one more theme that has played out over the past decade in India SaaS: SaaS companies that sell into India/Asia (non-China/Japan). There's been a reasonably large set of investors in India who have been default no in this category, based on perception of limited TAM and GTM challenges. However, there is reason to be optimistic for this theme (we are!). A reasonable set of companies in the ecosystem have scaled, such as MoEngage, Darwinbox, Capillary Technologies, Yellow.ai, Unicommerce , Gupshup, CRMNEXT, LeadSquared. Companies like Salesforce, SAP etc have reached multi-hundred million ARR in India. As a result, the potential scale from sales in India has grown from the $15-20mm that people used to talk about 5 years back to perhaps $50mm in India, overall $100mm-150mm in Asia. I think we'll see more companies continue to get funded here as IT demand in India/SEA deepens and local requirements (mobile, India Stack, regulations, languages) get addressed. Founders and investors will need to tune into this being a solid path to go but will take longer to get to impact than US/EU-focused companies. Some characteristics we see at India/SEA-facing software companies: * Many start out in SMB but then find scale & success selling into enterprises. India market has a ton of SMBs (10mm+), a relatively light mid-market and a significant set of large enterprises. * Products tend to have feature sprawl and design-deficit but this can be fixed. * Some large sectors that are pulling at enterprise level e.g. BFSI, multi-sector conglomerates. Early traction from digital native companies (but naturally capped market). * Natural to go to SEA & Gulf countries. Product could remain fairly similar but sales & marketing motion can be quite different. To get really large, feels like will have to end up going to US/EU markets eventually. * ~10 years to $100mm ARR, with market leadership in Asia * Gross margins start out perhaps 10-15 points lower than corresponding companies in the US/EU but trend up over time. * Most India-facing SaaS companies are starting as India Pvt. Ltd. today, compared to 5 years ago (versus US C-corp), with a view to going public in India at $50-100mm revenue level.

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🌿✨ Embracing AYUSH: Empowering Health Naturally! 🌟 Did you know? Recent data from the survey on AYUSH conducted by National Sample Survey Office, India reveals that 50% of Indians used AYUSH healthcare system in the last year! 🔹 AYUSH system of medicines refers to the use of one or more of the system(s) of Ayurveda, Yoga, Unani, Siddha, Sowa-Rigpa and Homeopathy 🔹 95% of rural and 96% of urban folks are aware of AYUSH traditions. 🔹 85% of rural and 86% of urban households practice Medicinal Plants/Home Remedies/Local Health Traditions. 🔹 Nearly half of rural (46%) and over half of urban (53%) individuals used AYUSH in the last year for health benefits. We at SaveIN work with several leading alternate medicine providers like Dr Batra’s Healthcare Jiva Ayurveda Madhavbaug Homeocare International among others, and are witnessing tremendous demand for alternate therapies, especially for chronic diseases and lifestyle disorders. Let's continue to explore the power of traditional wisdom in promoting holistic wellness alongside adopting the latest in healthcare! 🌱💪 #AYUSH #HolisticHealth #WellnessJourney #TraditionalMedicine #Healthcare #Lifestyle

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Was nice to share some thoughts with Akshata Gorde and Financial Express (India) on SEBIs new proposed fixed price mechanism as an alternative to reverse book building for voluntary delisting schemes. Read on to know more: https://lnkd.in/g25YCj_D #SEBI #delisting #law

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Thrilled to have participated in the Start-up Ecosystem & Investors Networking Meet at PHD House. Engaging in discussions about the critical role of fund managers and our approach to delivering substantial returns was truly energizing. It’s through such engagements that we continue to drive innovation and support the next generation of startups. I am excited to see the impact of these investments on the future of entrepreneurship. #Entrepreneurship #InvestorNetworking #StartupGrowth #StartupEcosystem

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Join us! With great power (capital, position, trust) comes great responsibility. Following the launch of Ortella Global Capital - OG Capital, India's only fund that co-builds companies, we are humbled by the overwhelming support and enthusiasm for our mission to empower the next generation of groundbreaking startups. As we embark on this exciting journey, we are reminded of the profound impact we can make through responsible and strategic investing and co-building. At Ortella Global Capital - OG Capital, India's only fund that co-builds companies, we firmly believe that with great power comes great responsibility. We are dedicated to upholding the highest standards for our investors, our co-builders, our founders and every individual whose lives we touch. As stewards of capital, we understand the importance of harnessing our resources for the greater good, not just for financial gain (yet focused on delivering 50%+ CAGR). As we grow, we are eager to expand our team with exceptional individuals who share our vision. We look forward to potentially working together to create the next hundred unicorns. Who is it for: a. If you had started a company ever and successfully exited, Reach out to us b. If you are a current founder who is passionate about building but for some reason, your business is not working out, Reach out to us c. If you had started out a few times before but for some or other reason it did not work out, Reach out to us And by the way, all our team members are ex-founders :) Additionally: - It does not matter whether you are 15 years old or 60, Reach out to us - It does not matter whether you are in Ahmedabad or Agartala, Reach out to us - It does not matter whether you are from IIT/IIM or a college drop out, Reach out to us --- because we have seen that success does not have a tag, you just need it to click once. And that's it! Please fill out the form in the comments :)

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Very glad to see this! We have travelled down the path of Swadeshi and import substitution with disastrous results. Re-inventing wheel never makes sense. The main genius behind the telecom revolution was to adopt cheap and easily available technology to provide the service to masses, rather than develop our own that Sam Pitroda championed and wasted $10 billions on. The name of the game is to innovate and build on available technology. Encourage manufacturing in India to employ masses. Assert comparative advantage where we have it, as we have shown in IT services. We should have a huge comparative advantage in agricultural sector. Turn loose our entrepreneurs to take the world on in all emerging fields. They are already starting to prove their mettle in spacetech. The goal of Atmanirbhar should be limited to defense and armament industry. Everywhere else we ought to go for most economic way of providing goods and services for the masses.

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Many VCs have written about eldercare as an exciting market opportunity in India. And indeed it is. India’s greying population will have a series of new unmet needs and therefore new TAMs will get created. However, the mistake that many are likely to make is to think of the silver years only from the lens of decline and disability. Think adult diapers and senior living. Like with everything else in India, it would be a fatal mistake to paint all the silvers with the same brush. Think the actors Rekha, Kirron Kher, Anil Kapoor and Anupam Kher. Rekha and Kirron Kher haven’t traded their lush Banarasis and Kanjeevarams with suti, neutral coloured cottons. The adornments too are celebratory and not subtle. Anupam Kher has built his body in his advancing years. Anil Kapoor is of course a case study of keeping himself current and relevant. Each of them continue to look at their careers from the lens not only of age but their abilities as actors. The much trolled Malaika Arora, though not yet in her silver years is refusing to allow her fifth decade to change her to a more matronly appearance. These though in the glamour business aren’t anamolies but rather an embodiment of how Indians are thinking about life post-sixty. Income, affluence is allowing Indians to redefine how life should be post 60. Founders looking for ideas to build for this burgeoning cohort should study this segment carefully for possilities of building large, venture fund able businesses. As I have said before on this platform, the best bussineses get built when you spot an unique opportunity early enough. #rukamfounders #ageingwell #newideas

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🚀 Breaking Ground with VC Grid: India's Venture Odyssey! 🚀 Thrilled to unveil VC Grid, a paradigm shift in venture syndication crafted exclusively for the visionary minds of family offices & UHNIs. With a formidable war chest of Rs 900 crore, VC Grid embarks on a mission to empower 100-120 startups over the next triennium, spanning diverse realms from agritech to financial frontiers, seeding each venture with an infusion ranging from INR 4-16 crore. Powered by the backing of esteemed Indian family offices, entrepreneurs, and UHNIs, VC Grid's helm is steered by Vansh Oberoi, a dynamic VC professional in early-stage investments with an illustrious six-year journey at Venture Catalysts alongside Sidhi Dalmia, former Goldman Sachs executive, captaining our venture towards new horizons. Already carving its mark, VC Grid has infused INR 40 crore into five trailblazing ventures, catalyzing an unprecedented INR 100 crore in follow-on funding. Notable among these are Autocracy Machinery Pvt Ltd, KisanKonnect Safe Foods and Ideal Insurance. But VC Grid isn't just about capital infusion; it's a beacon of collaborative innovation, fostering a nexus of expertise and domestic capital. Our mandate? Backing ventures grounded in research, profitability, and ESG principles, with an eye on delivering over 30% IRR. Join us on this exhilarating venture odyssey as we redefine the contours of India's startup landscape, one disruptive idea at a time! Venture Catalysts++ | India's 1st Multi-Stage VC, 9Unicorns, Anuj Golecha, Anil G Jain, Gaurav Jain, Vansh Oberoi, Sidhi Dalmia, Shreeyesh Chandgothia #VentureCatalysts #AngelInvestor #VC #IndianStartups #StartupFunding #SyndicateFund #FamilyOffices #IndianStartups #ESGInvesting https://lnkd.in/de65Wk9p

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Corporate Venture Capital (CVC) is on the rise globally, with India hosting over 150 CVCs. This trend reflects corporations' recognition of the innovation startups bring and their desire to stay competitive. By investing in startups, corporations gain access to innovation, value-adding technologies, and financial incentives. CVCs play strategic roles by investing in startups within their industries, offering benefits like industry networks and expertise, while also providing general support such as access to experienced professionals and relaxed return expectations. The significance of corporates investing in the startup ecosystem is continually growing globally, with many Southeast Asian corporations turning their attention to South Asia, particularly India. Read More Here: https://bit.ly/4a8vsTJ #Restaurants #Hospitality #Technology #Business #Innovation #AI #investing #venturecapital Branded Hospitality Ventures Noah Stern

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As the foreign venture capital world shifts and changes, to me it is evident that the next generation of Indian companies are going to be built with the support of Indian capital. The emergence of strong domestic brands in the VC space is a great start. And most of them (including Rukam) have raised capital from Indian institutions and family offices. The focus of Indian family offices too towards investing in startups is a step in the right direction. No country in the world has or can build a large startup ecosystem without domestic capital. As someone rooted in the Indian milieu it is of course significantly easier to understand the risks and the opportunities of building in India. There aren’t inflated business plans because it’s pretty evident to anyone who has lived most of their lives here that these just won’t fly no matter what. Domestic VCs have a great opportunity to build an ecosystem that showcases the best-in-class way of doing business. The emergence of domestic VC brands is a good sign of the robustness of our ecosystem. The next step is to make deeper pools of LP capital available as well as other enabling policies to domestic VCs so that this gets bigger and bigger. The more risk capital available to our founders, the bigger the pie becomes for everyone. #rukamfounders #riseofdomestocvcs #domesticcapital

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In my decade long stint with Sequoia India, we used to eagerly look forward to Sir Mike Moritz - erstwhile Chairman and forever Legend of the firm - showing up for India visits. And accompanying him was this cute little digital camera that he used, to record everything that he saw. Meet an interesting new company: snap. Walk into one of our portfolio company outlets: snap. We used to look forward to his compendium at the end of the trip embellished by these photos. I assumed that this habit was a hangover of his journalistic origins but went ahead and asked him anyway. He said - as backers and believers in startup founders, we have to also believe that we are watching history in the making. And we have a responsibility to not just observe but also record these moments. I think about this a lot. Culturally, we tend to be - for the most part - self-effacing. And sometimes our humility comes in the way of recording history. Many of the companies I work with do not have pictures of their origins or their first ever day at work or their first shop front. If you are a founder and you believe that you are going to make a dent in this world, then please record history as you are making it. Some day you will look back and find these pictures a fascinating record of your journey. And they will come in use when you are ringing that bell at the stock exchange. Or at an equally happy milestone. Leaving you with a much treasured pic of me with Mike, with the current Sequoia Global Head Roelof Botha in the background. Historical at least as far as I am concerned :-) #startups #Founders #HistoryInTheMaking #Investing #VentureCapital

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Investing in Aaiena has been immensely rewarding. Their innovative use of AI in fashion technology aligns perfectly with our mission to support transformative solutions. Aaiena's team's dedication, expertise, and clear vision have resulted in impressive growth and market impact. We are proud to back a venture that is redefining the fashion industry, and we eagerly anticipate their continued success and contributions to a technologically advanced fashion future. Unnati Ventures India Raj Gaurav Sakshi Chhapolia Aaiena #investment #fundraise #funding #fundingalert #investmentnews #startupindia #startupnews #investor #familyoffice #angelinvestor #venturecapital #india #investmentgrowth

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As someone who is privileged to be closely involved in the journey of several startups including Mygate, the ability to write such a blog, let alone publish it to the public shows an extraordinary longterm thinking and maturity for founders. First of all, kudos to the team on stellar execution and is the input to this blog. Secondly kudos on the courage to publish such information, for a second time now. Last but not least, I encourage all founders to write such a blog and a similar plan for the year ahead. Publishing this can be at your own discretion - private, management team, board, investors, public. Use your best judgement but write you must! It’s a great discipline to have - ideally once a quarter! Yes the first two times will be difficult, but it will soon become a “liberating” habit.

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#CEO and #CXO searches are going increasingly global as large #Indian companies getting into new business areas or looking to enter overseas markets and #multinational companies expanding base are casting their nets wider. #Executivesearch firms say about 30-50% of their CXO searches in the last six to 18 months have been looking at potential global candidates, up from about 10-15% a few years ago. #Businesses are looking at returning Indians with international expertise to support their expansion plans. #india #Humanresources #management #leadership #indianprofessionals #economy #growth

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S&PGlobal Ratings raised India's #sovereignrating outlook to 'positive' from 'stable' while retaining the rating at 'BBB-'. The rating agency's positive outlook on India is predicated on its robust #economicgrowth, pronounced improvement in the quality of government #spending, and political commitment to #fiscal consolidation. Its favourable #GDPgrowth to interest rate differential keeps government borrowing sustainable, S&P said, adding that it expects the country's debt to GDP ratio to reduce to 81% by fiscal 2028 from 85%. #india #ratingsupgrades #investments #macros #economy #interestrate #inflation #macros #emergingmarkets

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The abolition of the Angel tax marks a significant change for India's startup ecosystem, reducing excessive scrutiny, paperwork, and compliance challenges for startups. This decision will boost investment in startups, bring in more investors, and help create jobs and advance technology in India. Give a read to the article here: https://lnkd.in/gTYjbfCV #angeltax #startup

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What can FM gift to SMEs? Today, MSMEs are smart and competing with large corporations across various sectors. A prime example is the F&B industry, with companies like Paperboat, Bira 91, Licious, and Yogabar. MSMEs are not seeking subsidies or Production Linked Incentives (PLIs). For every successful startup we hear about, many others disappear. As someone who serves on the boards of several startups, I see that their challenges are multifold: 1. Permits and Licenses: Obtaining basic permits and licenses can take an exorbitant amount of time, ranging from months to years, even for non-invasive medical devices, simple drones, GeM registration, and trademarks. The Finance Ministry could create a simple single-window system exclusively for startups. 2. Compliance Hurdles: Startups, like babies, need support from the system. Currently, these young companies must compete with well-resourced established companies. The Finance Ministry should simplify compliance regulations for startup private limited companies to be as simple and straightforward as those for proprietary companies. 3. Incubation Centers: When I started an operation in Gothenburg, Sweden, a few years ago, the Mayor’s office provided us with a free office in a world-class development center, free audit services from E&Y for a year, and free legal services for a year. They also introduced us to top companies there. Singapore offers similar facilities. While we have various organizations and industrial development corporations, they are often too confusing and operate like profit centers. 4. CGTMSE: This scheme is intended to help startups (MSMEs) secure credit facilities without collateral. However, 90% of startups do not benefit from it. The scheme excludes pre-money startups, non-profitable startups, and those without a two-year banking relationship, effectively excluding 90% of startups. The government should establish a mechanism for evaluating idea-level and pre-money startups. 5. Confusing Schemes: There are numerous schemes, but startups lack clarity on which ones to apply for and which ministries offer what. The government should set up a startup guidance cell in each state and outsource its management to companies like TCS for effective implementation. #financeministry #budget #schemes #cgtmse #startups #pmo

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Tokenization and blockchain are at the core of Finternet, offering a seamless, user-centric experience across all asset types. Nilekani dubs it the "three U's" of finance: user-centric, unified, and universal. EkStep Foundation Centre for Digital Public Infrastructure - CDPI Pramod Varma Prasanna Lohar #digitalassets #blockchain #tokens #finance

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