Shubham A Mishra

✨ Chet Kapoor ✨ is quite the Silicon Valley legend. Three-time founder and currently the CEO of DataStax his wisdom for founders is incredibly spot-on ✅ and timeless ⏰ ! In this most recent and probably best-ever episode of The Enterprise GTM podcast, Chet discusses what it takes to build enduring tech companies. Some 🎤 soundbites 🎤 from our conversation: 👩‍🏫 The quality of people influences the outcome of your startup the most. 🔥 You do not need smart people who sit around and pontificate. ☄ Momentum is everything. Never underestimate it. 🌟 Having complete clarity of thought at any given time is very important--who are you doing this for, and how will it change their lives? 🌈 One of the best ways to create a large company is to create a parade or join one. ☝ Know who you are. There's a high likelihood that the company will become more like who you are rather than who you want to be. 🛑 Don't make the mistake of hiring sales execs too soon. Be extra cautious about partnerships. 📣 Tune in to hear about what he has to say about AI startups getting started today, the future of the data layer, the evolving importance of data roles (data science, data engineering), and so much more! #devtool #founder #startup #data #ai https://lnkd.in/gW-58nvE

31

1 Comment

🎉 Excited to share as an indirect investor that DevRev, backed by Khosla Ventures, has officially become a unicorn. Dheeraj Pandey, CEO at DevRev, puts it perfectly: "At the end of the day, every developer is either building something new or fixing something related to the product. But inefficient systems and processes keep developers further from their consumers. We believe there's a better way to build, operate, support, and grow your business through code. That's why we've embarked on a journey to create the Developer Customer Relationship Manager (DevCRM) that we hope will help makers build the most customer-centric companies on earth." Here are some key points about DevRev: - Co-founded by Dheeraj Pandey (co-founder of Nutanix) and Manoj Agarwal (former SVP of Engineering at Nutanix). - Offers three modern CRM apps tailored for support, product, and growth teams. - Already making waves in Southeast Asia. If you're in the region and have questions, reach out to Jeffin Mathew. 💡 Fun fact: Nutanix was also backed by Khosla Ventures. Congratulations to the entire DevRev team on reaching this incredible milestone in under 4 years! I'm thrilled to be part of the journey as a Limited Partner in 2 | Twelve one of their seed investors.

28

1 Comment

Venture capitalists in India often talk about innovation, but is it really happening? While business model innovation gets funding, true tech innovation, especially in deeptech, is a longer, riskier game. Deeptech startups in India struggle not because of talent, but due to a lack of patient capital, everybody looking for fast exit. Investors like BIF and pi Ventures are trying to change that by backing tech sectors like AI and semiconductors. But if we want India to become a deeptech leader, shouldn’t more VCs take the long-term view? To position India as a deeptech leader, the market calls for more long-term, patient capital. #DeepTech #Innovation #VentureCapital #IndiaTech https://lnkd.in/gyJYdSQW

25

2 Comments

Can technical founders become effective CEOs? Srinath Sridhar knew he needed to step out of his comfort zone when he founded Regie.ai four years ago. Now he and cofounder Matt Millen have raised more than $20 million and landed on G2’s list of fastest-growing software products of 2024. My full conversation with Sri is in the comments.

33

3 Comments

Startup decks vs Business plans. It's accepted that a startup needs a deck. Dax Dasilva of Lightspeed Commerce made an important point on 20VC. Writing a business plan - including financial projections - is an important step. It requires discipline. It provides a rigorous framework for thinking deeply about the problem you're trying to solve. Harry Stebbings countered that he doesn't even want to see a deck since it's all dreams. We spent a lot of time and energy on our business plan with the expectation that we would show it to no one ever. The business plan was part of our roadmap for the company. We researched customers - including having 50+ conversations. We wanted to understand them: their background, their interests, their presence on social media. We also wanted to understand how they were evaluated by leadership and how integrated they were with the business of the company they were protecting. We researched pricing both with potential customers and other products in our industry to find out if OpEx or CapEx was a better fit. How did they buy today? How would they like to buy? We did market research to understand the verticals and map the right entry point - we were wrong but that doesn't reduce the value of the research. We looked at competitors in depth to understand what they were seeing that we weren't. Dax is right. This is an invaluable document that should be updated every year - the company is changing, the market is changing, there's more feedback about price and ICP. It's not for sharing with the outside world. It's a map for driving forward. Decks won't get you investment - VCs invest in people. We make decks but we know they don't tell our story. The deck is a calling card. Dax and Harry are both right. https://lnkd.in/e25M82xY

15

1 Comment

Movie studio and a startup studio, they're more similar than you think. MS buys a screenplay. SS finds a business idea. MS invests a certain amount of the total budget as seed capital. SS invests a certain amount of the total budget as seed capital. MS hires a producer to raise the rest of the money and hire a Director. SS hires an EIR or a Founder to raise the rest of the money and hire a CEO. MS Director hires the rest of the team and manages them. SS CEO hires the rest of the team and manages them. MS Movie launches SS Company launches MS makes money on sales, distribution, merch etc. an exit plus the potential of long term revenue SS makes money on equity appreciation, profit distributions, secondaries, exits and or ongoing long term revenue

7

2 Comments

Great insights, I recommend you watch/isten to the episode either on Youtube below or from your favorite podcast app. Key Takeaway 1: Building a Growth Machine in Startups - Raman Malik, the Head of Growth at Perplexity, discusses the company's journey of growth, sharing insights on what worked and what didn't. This includes the key factors that drove growth, the lessons learnt from unsuccessful strategies, as well as the role of partnerships in driving growth. Key Takeaway 2: Acquisition, Retention, and Churn - Malik shares his thoughts on brand marketing, emphasizing the significance of retention over acquisition. He also provides advice on how startups can increase retention and defines what an "engaged user" means to Perplexity. Key Takeaway 3: A/B Testing - Malik explores the advantages and disadvantages of A/B tests, providing insights on when they can be most effective. This includes a discussion on the role of A/B testing in growth marketing and its impact on product development. Key Takeaway 4: Paid Acquisition - Malik challenges the conventional wisdom of relying on paid acquisition for growth, describing it as a "drug". He also provides advice to other founders on how to approach paid acquisition and why Perplexity chooses not to use this method. Key Takeaway 5: Building a Growth Team - Malik advises founders to hire more former founders, explaining how their experience can be beneficial in a startup environment. He also discusses the challenges and learnings from hiring for the growth team, underscoring the importance of understanding the unique management needs of different types of employees. https://lnkd.in/gwZev8dp

8

Had a 2021 reminiscent email this week, with a SaaS startup looking to raise at $20mn (₹160 crore) valuation. Traction? Less than $50k (~₹40 lakh) in monthly revenue. Hard pass. Reiterated rules of thumb: - Multiples follow midcap public equivalents + sensible rounds in private markets. Some indicators include 3-5x for D2C brands, ~0.8x-1.5x for marketplaces, 5-10x for SaaS - For deeptech, depends on stages of commercialization, a good seed benchmark (pre-revenue) is between ₹25-50 crore depending on product, team and LOIs - For those wondering why valuations are so apparently conservative, remember there are three methods to startup exits. IPO, Acquisition & Death - Study existing recent IPOs and acquisitions in your sector to understand good benchmarks - A 5 year DCF is RIDICULOUS for an early stage startup. Forget accounting valuation methods for something that's essentially an energetic team, a few early customers and lots of hope - A valuation essentially sets a return expectation. If you raise conservatively, your investors will likely be happier with a more sensible growth rate and a moderate exit (in the $50-$100mn range). Raising at sky high valuations essentially puts you on the path to become some sort of unicorn (no more acquisitions here) or die. - Founders, remember liquidation preference. If you raise $100mn, then until investors are paid back that $100mn, you won't get a dime. If you sell your company for $80mn (sounds good right?) you and the team that sacrificed blood sweat and tears to help you build get ..... 0 #venturecapital #funding #fundraising #valuation #startups

217

34 Comments

🚀 Swiggy’s IPO is delivering around 30X returns for many VCs, and the media is buzzing with excitement. A 30X return over 9-10 years works out to an IRR of around 40-45%, which is quite impressive. Now, let’s view this from another angle: if I set up a VC fund expecting a 25% IRR over a 10-year period, the fund’s value needs to grow by 9-10X. Typically, I’d not put more than 10% into a single investment. Here’s how the numbers play out: 1️⃣ Total fund size: 100 crores 2️⃣ Final target value at 25% IRR: 930 crores 3️⃣ Swiggy investment: 10% or 10 crores 4️⃣ Swiggy exit value: 300 crores 💰 This leaves me needing the other 90% (90 crores) to reach 630 crores. That’s tough, especially with many startup investments likely to fail. I’d need at least two more Swiggy-level successes in the portfolio just to hit average returns. 📊 Plus, several small-cap mutual funds have consistently delivered 25% returns over many years, making VC returns hard to justify. Venture capital is a challenging game. 🎢 #startups #swiggy #VC

5

2 Comments

Let’s talk about startups. I have successfully launched 50 + Companies. I have a list of 600 Startups on the BUY Side 150 Startups  on the SELL Side that I think would hit the $ 1 Billion Thrush-hold, However these  startups which I have created would be linked to a podcast where I would Like to discuss with you on how you would like to Participate. There has never being a better time to start Having your own Startup ! We can help you Invest in the Right Startup and have a better and clear Exit Strategy within a period of 3 - 5 years ! We can speak about HIGHER ROI We can speak about HIGHER YOY  We can speak about TAX RETURNS We can speak about INVESTMENT ROUND For more details click the following website :- https://lnkd.in/gSs6KpD4 Comment below and let me know ! Please make an appointment from the following link !   https://lnkd.in/gWh__VnD

2

Let’s talk about startups. I have successfully launched 50 + Companies. I have a list of 600 Startups on the BUY Side 150 Startups  on the SELL Side that I think would hit the $ 1 Billion Thrush-hold, However these  startups which I have created would be linked to a podcast where I would Like to discuss with you on how you would like to Participate. There has never being a better time to start Having your own Startup ! We can help you Invest in the Right Startup and have a better and clear Exit Strategy within a period of 3 - 5 years ! We can speak about HIGHER ROI We can speak about HIGHER YOY  We can speak about TAX RETURNS We can speak about INVESTMENT ROUND For more details click the following website :- https://lnkd.in/gSs6KpD4 Comment below and let me know ! Please make an appointment from the following link !   https://lnkd.in/gWh__VnD

1

V3 Ventures Deal Announcement: We just doubled down on Go Zero. Here’s the scoop on why: 1) The Market: When I said it the first time people said, “where’s the TAM (addressable market) for low cal zero sugar. The reality -  India is the “Diabetes Capital of the World”, with 140 million diabetics, 17% of the global population. This is totally relevant for these consumers. To add to this, the healthy population is growing and people are reading labels (credit to my friend Revant Himatsingka). I myself have been on a sugar-free for 5 But, even I crave something sweet now and then. And my go to is always - ice cream 🍦 2) Founder: There is energy and then there’s Kiran Shah! He hails from a family legacy of 50+ years in ice cream and invented one of India’s most famous ice cream innovations - the guava chilli flavor. Like me, he wanted to take his family legacy forward in a new way. Yes, maybe I’m biased to founders like him because they have a massive right to win! 3) Growth: I don’t say it often enough but, they’ve exceeded all expectations! 🍨 Grown >10x as a business  🍨 Expanded to 16 cities, 🍨 Grown 7X on quick commerce. 4) Product: In food, taste trumps everything. Over everything I absolutely love the product and so do most people who I make try it. And, the company has launched some of the most interesting flavors - from chocobar and nostalgic mango duets to a jamun sriracha pop! I remember negotiating the termsheet with Kiran the day after Aisha was born. Like her, we’ve come a long way since then :) Honored to re-invest with our partners DSG Consumer Partners and Saama. Let’s take this to the 🌙 PS - if you haven’t already - try my favorite flavor Mad Over Mango 🥭 . Available across Swiggy Zomato Zepto Blinkit and Instamart #GoZero #india #growth #fundraising

521

62 Comments

Founders, VC is a very very small ecosystem. Driving FOMO by saying X fund is investing just leads us to ping a friend at X fund to confirm. Picking this up as this happened recently, with a friend reaching out checking if Artha is investing in Y. I was confused as Y wasn't in our CRM. Asked colleagues. Turns out it's an early early conversation I'm having on LinkedIn. This does NOT mean we've confirmed participation. Sharing some tips around this: - If you're talking to an analyst at BigFund (Accel, Lightspeed, Peak, Z47 etc), you are NOT about to get an investment. These folks have KPIs to talk to every startup that exists (including folks having a coffee chat around an idea) - If you're bumped up to associate stage, progress is happening - When you've had 2+ conversations at Principal/Junior Partner level, then you can start add fund X to your 'Warm Lead' pipeline, as there's a decent-ish chance for conversion - It isn't till the signed term sheet that a fund is confirmed to participate Disclaimer: Adverse DD findings/protracted painful SHA negotiations can still lead to the round not being completed down the line. It ain't over till the money's in the Bank! Addendum: If a fund really likes your story and confirms to lead, odds are we'll help you fill the rest of your round by sharing the opportunity with other friendly funds. #venturecapital #funding #founders #startups

647

111 Comments

An interesting trend in the Indian family-office ecosystem: > Old-money family offices (entrepreneurs who built traditional, successful businesses) allocate ONLY 5-10% to private markets and startups and a significant portion usually between 40-70% in public markets and a decent amount to fixed-income/debt instruments whereas > New-money family offices (FOs of entrepreneurs who have made their money building startups) invest the majority of their capital in private markets (sometimes as high as 70-90%) and have a much smaller public markets and fixed income portfolio relatively. Many startup founders say that they do not understand the stock markets and PREFER to do private markets as they think it's within their 'circle of competence'. Will be super interesting to see how this trend plays out over the long-term.

337

38 Comments

Vinod Khosla agrees with me. Or rather I agree with Vinod. If you are a startup founder take advice from other startup founders. Not VCs. Not bankers, not lawyers, not your dads friend who is so good in business, not 99.9% of people on LinkedIn. Not anyone under 40 (ok some but very few). The easiest rule to remember is just don’t take advice from anyone. Because the chances are slim that you will hit on the 0.01% of advice that is worth listening to. https://lnkd.in/dYvvtEH9 https://lnkd.in/erbypgam

16

9 Comments

This hard reset is required for all AI founders from India building global B2B products: Product Innovation > GTM muscle Product innovation is happening at a rapid pace in each of your categories, valley competitors are building thought through features that can help them win customers mid-long term, GTM muscle alone without product differentiation wont help you win in the first half of this AI decade. We are doing this hard reset within BoldCap on what we are looking for in AI founders. Ping us if you are tinkering in global AI B2B products. Shiv Tayal Pratham Chadha Aditi Gera

132

10 Comments