Vishesh Shrivastav

The target of achieving USD 1 trillion worth of merchandise exports calls for a paradigm shift for India - to corner a much larger share of the global opportunities presented by supply chain realignments, and to leverage the new and emerging demand from sunrise sectors. To truly thrive, we need a bold, action-driven strategy that is homegrown, inspiring and impactful. Applying the #VIKSIT framework across the entire value chain of select potential sectors would provide a further fillip to India’s export story. This framework is aimed at providing comprehensive guidance to all stakeholders – triggering both thought and action along different dimensions to solve current bottlenecks and propel India’s positioning in the global market. Know more: https://lnkd.in/dedCRt3j #TogetherWeFuture #CommittedIndia

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Eternal source of confusion in India SaaS. Terms like SMB, mid-market and enterprise are used pretty casually. Putting out a version here and inviting opinions from founders & investors on how they see the breakpoints between segments. US: SMB (upto $250mm in annual revenue), mid-market/commercial ($250mm-$1B), enterprise ($1B+). India: S (upto 10cr), MB (upto 250cr/$30mm in annual revenue), mid-market (250cr-1000cr, upto $150mm), enterprise (1000cr+/$150mm+) (note the breakpoints between segments are much lower in India and not comparable to the US)

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While cautious, investors are excited about the next phase of Consumer startups in India. Whether it is the incumbents or the ones at very early stages, we believe that large scale businesses will be built in the consumer space across premiumization, digital entertainment, tech led services themes across sectors in the coming decade. The below article captures our view in much detail. If you are building in Consumer Tech/Services space and are solving a complex problem, we would love to talk to you. Gemba Capital Adith Podhar Vipul Rawal ↗️ Kamini Shivalkar Shashank Gupta

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The more time I spend talking to founders building consumer companies in India, the core truth that emerges is that irrespective of the category, consumers want variety. As recently as five years ago, variety seeking behaviour was presumed to be only in impulse categories but it was believed that in almost every other category, more of the same is what was wanted. This is how large companies were often built on the back of that one hero product. Think of Smithkline which made its fortunes just selling Horlicks for decades. Once a company found its hero product all it had to do was to play defense. You did not touch the winning formula no matter what else happened in the market. Cut to the post Covid behaviour. In almost every category the consumer wants something new, something different and for this they are willing to reward the company by coming back frequently to buy all the new, shiny things that are available. Since this behaviour is relatively new in non-impulse category it offers both an opportunity and a challenge. Getting a new product to the market isn’t easy no matter how well you might know your customer. But if you don’t play by the new rules of the game you are likely to get edged out of the market. This conundrum is one of the trickiest things that founders have to solve for; and those that do so successfully will build the next set of consumer unicorns. #rukamfounders #notjustoneheroproduct #newshinyobjects

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Kabhi Revenue Kabhi EBITDA? Yesterday the Dharma Acquisition by the Poonawala family ignited a curious question amongst Media founders exploring M&A - 'Why was Dharma acquired on Revenue Multiple & not EBITDA?' → Traditionally you see, most Media deals happen on either - • 3-8x of EBITDA OR • 1-2x of Revenue Ofcourse, filled with exceptions. The only companies where a Revenue Multiple is entertained is where the company has great moats, defensibility & sustainable IPs to back themselves. → Does Dharma have any sustainable moats? A big YES! (1) Existing Movie Business - Ofcourse the existing movie business will go as it is & I'm assuming will get more streamlined with good corporate zing. - Enhanced focus on Bottomline & not spending exhorbitant amount on mindless movies & webshows. (& promotions) (2) Monetising Existing IPs - Dharma has some of the best older movies in its kitty with excellent recall value. - Their new set of IPs too have found a set of viewers (Bollywood wives, Tribe etc) Love watch it or Hate watch it, but you watch it anyway xD (3) Talent Management Wing - Not sure if the Talent Management Wing is included in this deal, but could be an interesting add on. • The Dharma deal, happening at 2x of Revenue is a good case study for any Media company imagining a 10x 'Revenue' Multiple! Overall just validates that consolidation is due in Media, be it India or globally. Done Deal Rohit | Aneesh | Shubhang | Gaurav | Neha #india #business #media #mergers #acquisitions #economy #startups #movies #cinema

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We just released episode 42 featuring Anurag Chandra on Swimming with Allocators. Anurag, a VC, advisor to family offices, and chairman at a major pension fund, shared valuable insights on modernizing pension funds and investment strategies. Anurag emphasized the importance of supporting smaller managers and advised against capex-heavy industries, highlighting the balance between risk and reward in venture capital. His tips on differentiation in the competitive VC market centered on having conviction in your investment thesis and owning your niche, akin to crafting a compelling college essay. What strategies do you believe emerging VC managers should embrace to establish their presence? Share your thoughts below and check out the episode link in the comments below!

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🚀 Why Invest in Gurugram Real Estate? Unveiling the Optimism and Benefits🚀 Gurugram (Gurgaon) has become a hotspot for real estate investment. Here’s why you should consider investing in Gurugram’s real estate market and what makes it a promising venture: 📈Optimistic Growth Trajectory - Economic Hub: Gurugram is a major economic center, housing numerous multinational corporations and startups. Its status as the corporate capital of India contributes to a robust job market and increased demand for housing. - Infrastructure Development: The city boasts advanced infrastructure, including the Dwarka Expressway, the Metro network, and upcoming projects like the Delhi-Mumbai Expressway. These developments enhance connectivity and increase property values. 🌟 Investment Benefits -High Rental Yields: Gurugram offers attractive rental yields compared to other major cities. Its thriving business environment drives demand for both commercial and residential properties. - Appreciation Potential: The city has demonstrated consistent property value appreciation over the years. As new developments and infrastructure projects come to fruition, property values are expected to rise further. - Diverse Property Options: From luxury apartments to affordable housing, Gurugram provides a wide range of property options catering to different segments of buyers and investors. 🏢 Business and Commercial Real Estate - Corporate Headquarters: Many Fortune 500 companies have their headquarters in Gurugram, increasing demand for high-quality office spaces. Investing in commercial properties can yield substantial returns due to long-term leases and stable tenants. - Retail Growth: The city’s expanding retail sector, with numerous malls and shopping centers, creates opportunities for retail property investments. High foot traffic areas can be lucrative for retail and mixed-use developments. 🏠 Residential Real Estate - Expanding Residential Projects: Major developers are actively investing in Gurugram’s residential sector, creating new housing projects with modern amenities. This development caters to the growing population and enhances the quality of living. - Quality of Life: Gurugram offers a high standard of living with well-planned neighborhoods, quality healthcare, educational institutions, and recreational facilities. These factors make it an attractive location for families and professionals alike. 📊 Research-Backed Insights - Market Reports: All market reports highlight Gurugram as a top performer in terms of investment returns and property appreciation - Investor Sentiment: Surveys indicate strong investor confidence in Gurugram's real estate market, driven by its economic stability, infrastructure advancements, and favorable government policies. 🌟💼🏠 #RealEstate #Gurugram #SmartCity #CommercialRealEstate

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SEBI sure knows how to keep capital market players on toes. Their Board meeting outcomes are so keenly followed these days, the buildup of anticipation is palpable. There is something in it for all players, let's see this Sep Meeting key outcomes: MF - MF lite for light touch regs on index funds Primary Markets - Trade in secondary markets with UPI mechanism (from 1st Feb 2025), fast track rights issue Alternates - New Asset Class (10+ lac bracket) Business teams will have to devise new business models, Legal / compliance teams to evaluate structures, finance to look at tax implications. SEBI ensures everyone has their tasks cut out :) #SEBI #CapitalMarkets #BoardMeeting #FinancialRegulations #MarketOutcomes

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It is fabulous to see the growing interest in Angel Investments in Startups.. The news of Mamaearth stocks and also those of Zomato, Policy Bazar etc doing so well and making many new millionaires is definitely helping the cause. Some of these angel investors are beneficiaries of exits and esops and hence believe in this asset class, while others are looking to build such breakout events in their lives. Yet there are others who thrive in the ecosystem and enjoy riding the wave while making profits or losses from it. Whatever is the motivation, this space needs to be tread with caution. As a lead investor of our syndicate VG Angels at VentureGarage and having over a decade of experience in this space, I often advice my fellow angel investors the following: 1. Angel Investment is probably the riskiest asset class and requires patience. If you want to be one, then invest in 7-8 cos in 3 years or so and then expect a breakout in the 4th year from one of them. 2. There are over 20000 startups registering in the country every year, it is almost impossible for you to source and then invest in one of the top 20 of those. Follow a syndicate lead investor or a curated angel network for the deal flow and evaluation. 3. Founders are not looking for your mentorship. Invest in them first and then maybe you can mentor them. Definitely do not invest in founders who need your active guidance. 4. Learn about the future opportunities and build your thesis around some sectors. Learning new stuff is one of the big requirements and motivators of angel investments after all. Invest in those sectors which you are bullish about. Happy investing! https://lnkd.in/g2xx3zBX

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Consumer tech businesses will continue to get built in India as we go deeper and deeper in the market. Micro transactions have enabled new business models for content consumption /digital entertainment/ Gaming. B2C businesses in Healthcare and Edtech, still have a large untapped opportunity in India. Govind Lohia from our team at Gemba Capital captures some of his thoughts in this article published by ET. Do give it a read, if you are interested in the early stage consumer tech space in India and reach out to us, if you are building one. #consumer #tech #Venture #earlystage #seed Vipul Rawal ↗️ Sujoy Chakravarty Kamini Shivalkar Shashank Gupta

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To VC or not I came across two separate notes yesterday. One where Zomato and PolicyBazaar (InfoEdge is the common and largest investor) topped the charts on the market cap of all the 20-30 tech IPOs in the last few years. And the second about 65% IRR growth of Rohit and Kunal's investment. It got me thinking of operating entrepreneurs are yielding impressive returns compared to regular VC's Most first time founders get lured into raising VC funding as they get instant recognition from their social circle. But they suffer unimaginably. 1. The day they raise VC funding they cease to be an entrepreneur but a glorified CEO/senior exec working over time and severely under compensated. 2. Most VC's don't like founders to take enough salary (barely to make ends meet) and they don't like them to sell shares till they get an exit. I meet so many first time founders who are proud of this act of sacrifice hoping for a glorious victory at the end of it all. Their first time romance of entrepreneurship and gullibility gets exploited by VC's who misguide them at times to go without salaries/comp leaving them torn between family care and business priorities. 3. VC's like to invest in high growth, strong businesses with low risk(ideally, showing signs of profitability already) but as soon as they invest, they want the company to grow 100X continuously citing examples from the silicon valley of that one company which did amazing. They only care about the "power law" which is even 2-3 of their 10 investments work, they make enough but in that process the poor first time founder gives the best years of his life to the startup in vain as unwinding from this mindless experimentation and growth is nearly impossible 4. VC's celebrate Job's brashness or Travis's aggression and calls you a weak or a soft founder if you grow and manage business sensibly without undue aggression. They steadily try to influence your character and personality through stories of inspiration of "aggressors" but the moment you get there, ditch you for your insolence. 5. VC's don't bring any operating experience but have high conviction coming from their gut experience and reading a book or two on silicon valley startups. The reality of India dawns on to them after 10-20 years of investing and by that time, several founders have wasted their most productive years getting misguided by the intuition and gut feelings of the inexperienced VC's What's the solution - 1. There are some ideas that need VC capital and some don't - anything that required deep tech, strong network effects (mobility), research need VC capital. 2. Good businesses (so already existing business models getting improved by tech/AI etc) should not need too much VC capital. They should treat VC capital as an expensive debt and don't get influenced by VC's too much (discipline is key here). Example - D2C, or SAAS, or Edtech or Traveltech or such.

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Today's Headlines from : *Economic Times* 📝 FMCG, auto companies step up ad spends to revive demand 📝 Trai extends deadline on traceability mandate to December 1 📝 In a first, govt inks deal for contract farming of pulses 📝 Canara Bank Q2 Results: Net profit rises 11% YoY to Rs 4,014 crore on lower provisions 📝 Marico Q2 Results: Net profit rises 20% to Rs 433 crore 📝 RBI parks majority of its gold reserves in India; Local holdings up 100 tonnes in H1 📝 Musk’s xAI seeks $40 billion valuation in new funding round 📝 TCS signs $245 million 15-year deal to transform Ireland’s pension system 📝 Finova Capital secures Rs 1,135 crore from Avataar Venture Partners, Sofina, Madison India others 📝 Vridhi Home Finance raises Rs 310 crore funding from Norwest Venture Partners, others 📝 Gaming firm Krafton backs South Korean IMM Investment's maiden India fund *Business Standard* 📝 Cipla Q2 results: Net profit rises 15% to Rs 1,303 crore, revenue up 5.6% 📝 Maruti misses Street estimates, Q2 PAT slides 18% to Rs 3,102 crore 📝 JSW Group, Korea's POSCO announce deal to set up steel plant in India 📝 Festive boost: Flipkart records 7.2 billion customer engagement visits 📝 Lockton receives Irdai approval to acquire Arihant Insurance Broking 📝 JSW Energy tops rivals Adani, NTPC as highest bidder for KSK Mahanadi 📝 Yes Bank looking to sell Rs 635 cr of non-performing unsecured loans 📝 John Distilleries plans 30-acre Karnataka plant with Rs 600 cr investment 📝 GST returns to become time-barred after three years from early 2025 📝 Credit cards get a festive boost, spending increases 25% in September 📝 Cashfree Payments gains regulatory approval to operate as a PPI provider 📝 Record-breaking real estate IPOs in India raise Rs 13,500 cr in 2024 so far 📝 Summit Digitel Infrastructure raises Rs 1,000 cr at a coupon rate of 7.58% *Financial Express* 📝 CCI floats tender to appoint forensics agency to assist in probes 📝 Big response to PM Suryaghar, residential rooftop solar units up 50 per cent in 6 months 📝 SpiceJet clears TDS dues till September 📝 Ninjacart reports 74% surge in FY24 revenue, cuts losses by 20% 📝 RIL subsidiary Reliance New Energy acquires remaining stake in Faradion 📝 Indian Bank logs Rs 700 crore profit from PSL certificates sale 📝 India and Russia Seek to Bypass Dollar with Rupee-Ruble Trade, Tackle Financial Barriers *Mint* 📝 Google-Backed Moniepoint Raises $110 Million for Expansion 📝 South African Government Raises Civil-Servant Pay Offer to 4.7% 📝 US job openings hit more than 3-1/2-year low; consumer confidence rebounds 📝 PM GatiShakti planning group evaluates key road and rail projects 📝 Govt to impose penalties on GE Electric over delivery of fighter jet engines 📝 Adani Enterprises Q2 results: Net profit zooms 665% to ₹1,742 cr 📝 Razorpay's payment gateway business clocks ₹2,068 crore in revenue for FY24

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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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Monday Momentum: Strategy #4: Preparing for a Successful Exit: Compelling Value Propositions: I was woken up this morning in Delhi with a friendly yet insistent string of bird chatter. This beautiful parrot was sitting on the ledge outside my window on the 19th floor and showing high interest in checking me out. Its distinct beauty and character is a perfect metaphor for today’s exit strategy: A strong value proposition is the heartbeat of your business—and a major factor that will attract buyers when the time comes to exit. To stand out, you need to present a valuable offer that clients simply cannot resist and strategically seize new opportunities. Tip 7: Develop an Irresistible Offer Create a value proposition so compelling that clients feel the impact from the start. Offer a free trial or a pilot program with clearly defined measurable success criteria. Demonstrating the tangible value you bring upfront builds trust and credibility, making it difficult for clients to walk away. Tip 8: Find Untapped Market Opportunities Look for the “white space” in the market—those unaddressed areas where your competitors aren’t focusing but where clients are seeking solutions. By filling these gaps, you make your business not only more valuable but indispensable. Buyers will recognize your ability to capitalize on these overlooked opportunities and will see huge potential for growth. By crafting a compelling value proposition and claiming untapped market opportunities, you create a business with undeniable appeal to both clients and future buyers. Ready to make your offer irresistible? #ExitStrategy #ValueProposition #BusinessGrowth #MarketOpportunities #Club33 #Entrepreneurship #BusinessSuccess #Leadership

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🌟 India’s Real Estate Boom: A Game-Changer for Allied Sectors! 🌟 Congratulations to Aditya Joshi and the team at Brookfield Asset Management for the successful sale of IndoStar Home Finance Private Limited to EQT Group 🚀 This achievement underscores a broader reality. India’s real estate and housing finance sectors are booming, with every allied sector from housing finance to construction—minting money 💰 and driving India's economic engine. 📈 Take, for example, the recent Bajaj Housing Finance Limited IPO as beautifully posted by Manish Kejriwal, a testament to the unprecedented investor interest in the sector. But it’s not just about housing finance. As housing demand hits new highs, especially in fast-growing hubs like Gurugram, we’re witnessing significant growth across the entire ecosystem—real estate investors, cement, steel, construction companies, and more. 🔹 $1 trillion of annual investments in the housing sector 🏘️ is expected by 2030, with cities like Gurugram leading the charge.   🔹 The cement industry alone is seeing a surge, with consumption crossing 300 million tons, fueled by new housing and infrastructure.   🔹 Companies like ours, ProperT, have thrived by aligning with this momentum, with upcoming marquee real estate projects valued at over Rs 2000 crores and ongoing construction worth 1000 crores. At SSVG and Millennium Engineers, we’ve fast-tracked the acquisition of construction projects  🏗️ valued at over 1000 crores from marquee clients. This growth, alongside the demand for housing finance, is creating a robust cycle where every segment is flourishing. As Keki Mistry, Vice Chairman of HDFC Limited, has rightly said: _"India's housing sector is on the brink of a massive transformation."_   Indeed, we’re witnessing not just a boom in housing but a multiplier effect across industries supporting this growth.  #RealEstate #HousingBoom #Gurugram #Finance #Construction #ProperT #SSVG #MillenniumEngineers #EconomicGrowth

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🔥 Ep07 out now with Piyush Goenka from Prath Ventures! We talk about building great consumer brands in India 🔥 (Link in comments 👇🏻) We talk about: > Piyush's journey across all stages of investing > How he and Harmanpreet Singh defined Prath's sector and stage focus > The journey of Safari from a 200 Crore company to a 10,000+ Crore company > Prath's recent investments in Jimmy's Cocktails, Assembly and Aukera > Consumer trends in India and opportunities in the Indian market > His experience of fundraising for Prath (not something you get to hear very often and that too so candidly and vulnerably!) > How Vipassana changed his life   Prath ideally wants to be the first institutional investor when founders are raising their seed or series A rounds and the first cheque for them is usually between 3-15 Crores which is roughly 500K-2M USD. Excited to deep dive with Piyush into the consumer landscape in India today, and his plans for Prath in the future. Founders who are building consumer businesses, you will gain a lot of rich insights from Piyush’s experience about business building as well as fundraising. #startups #india #consumer #consumption #consumerbrands #founders

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Momentum investing is one of the best ways to capitalise on a dynamic bull market such as what we are experiencing today. Investors have debated its credibility based on risk, returns, and long-term outlook for ages, however, it has thrived significantly across market cycles and strongly beaten the broader markets. Our Valtrust Momentum PMS launched in January 2023 primarily invests in Indian public equities with an aim to generate capital appreciation by capitalising on the continuance of an existing trend. We have weathered market sentiments with consistent outperformance against benchmark indices like the S&P BSE 500 TRI. Our PMS has delivered a healthy 91% return in the past year (as of 30th April 2024). #MomentumInvesting #PortfolioAllocation #MultiFamilyOffice

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