Karunjit Kumar Dhir’s Post

Yesterday marked my last day at BCG Digital Ventures / BCG X. Eight years ago, I got the opportunity to work for one of the largest corporate startup incubators — and I was scared as hell. I never thought I’d be good enough for such a fast-paced, high-performing environment. Coming from a tiny village with almost zero opportunities to speak English daily, I struggled at first with the language — and, on top of that, everyone seemed so tall! I honestly thought some of them might be models 😄. But I thrived. So many challenges across so many industries made it the perfect place for someone as curious as me. Diving deep into new domains, quickly understanding them, and making smart product decisions became my daily routine. It was a true privilege for any digital product builder. Over the years, I have been part of several founding teams creating ventures that continue to make an impact. Shout-out to a few of them: heycar: We built the MVP in record time, transforming the used car market in a lasting way. Rumor has it my name’s still on the contributors list 😆. UP42: Developing the platform’s UX and architecture was one of the most fascinating projects. I learned so much about data science techniques, geospatial data, and satellite tech along the way. Scentmate by dsm-firmenich: This was our first big venture when COVID hit — what a unique product! I learned terms like “olfactory” and got a crash course in the science of scent. Creating a digital experience for such a physical product was challenging and I think we nailed it! I’m going to miss these challenges and the amazing people who helped me grow into who I am today. Thank you all! Now, I’m setting out to try my luck as a solopreneur, freelancer, and (once again) musician. I’m excited to bring everything I’ve learned into new projects and can’t wait to see where this journey takes me. Let’s stay connected!

10 years sounds like an eternity for a business to thrive. But who am I to say? Every businesses has their own journey, every entrepreneurs have their own mountain to climb. There is no over night success nor linear path. Melanie Perkins the CEO and co-founder of Canva, worked on her business for several years before gaining significant traction. She first had the idea for Canva in 2007 while teaching design programs at university, noticing how difficult and complicated tools like Photoshop were for most people. Initially, she started a company called Fusion Books with her co-founder and now-husband, Cliff Obrecht, to make yearbook design simpler, which served as the precursor to Canva. It took nearly six years of refining her vision and pitching to investors before Canva finally launched in 2013. Even after the launch, it wasn’t an immediate success. They faced several rounds of rejection from investors and significant challenges in scaling the platform. So, she spent roughly 6 to 7 years working on her business before seeing substantial results and gaining the momentum that led to Canva’s success. My fellow entrepreneurs, we have a lot to learn from Melanie. If anything, I’m inspired by her story and aspire to keep on keeping on. Adapting is key, sustaining yourself is vital and creativity is essential to defeat the odds!

The greatest journeys often begin with the smallest steps (and sometimes, questionable design choices 😉). Okay, maybe my first logo wasn't my finest moment... but hey, we all start somewhere! Four years into my startup journey with Katonic AI, and I'm more convinced than ever that building something of value takes time, grit, and a whole lot of learning. Here are 10 key lessons I've discovered. • 𝗔𝗴𝗲 𝗶𝘀 𝗝𝘂𝘀𝘁 𝗮 𝗡𝘂𝗺𝗯𝗲𝗿: I started Katonic just after turning 40, proving that age shouldn't hold you back. Don't be afraid to chase your entrepreneurial dreams, regardless of your age. • 𝗗𝗼𝗻'𝘁 𝗕𝗲 𝗠𝗮𝗿𝗿𝗶𝗲𝗱 𝘁𝗼 𝗬𝗼𝘂𝗿 𝗙𝗶𝗿𝘀𝘁 𝗜𝗱𝗲𝗮: Be open to pivoting, even multiple times. Successful companies, like Slack and Twitter, started with very different concepts before finding their winning formula. • 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗙𝗼𝗰𝘂𝘀 𝗶𝘀 𝗣𝗮𝗿𝗮𝗺𝗼𝘂𝗻𝘁: While services can generate early revenue, they can distract from your core product vision. Prioritize building a great product for long-term value creation. • 𝗧𝗵𝗲 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗶𝘀 𝗞𝗶𝗻𝗴 (𝗼𝗿 𝗤𝘂𝗲𝗲𝗻):  Validate that your product solves real customer problems. Continuously seek and incorporate customer feedback to ensure market fit. • 𝗕𝗼𝗼𝘁𝘀𝘁𝗿𝗮𝗽 𝗬𝗼𝘂𝗿 𝗪𝗮𝘆 𝘁𝗼 𝗩𝗮𝗹𝗶𝗱𝗮𝘁𝗶𝗼𝗻: Avoid relying heavily on outside investment early on. We bootstrapped for three years, proving our concept and gaining traction before raising capital. • 𝗧𝗵𝗶𝗻𝗸 𝗚𝗹𝗼𝗯𝗮𝗹 𝗳𝗿𝗼𝗺 𝗗𝗮𝘆 𝗢𝗻𝗲: Don't let your starting location limit your vision. Our early success was driven by customers worldwide, validating the global need for our solution. • 𝗧𝗮𝗽 𝗶𝗻𝘁𝗼 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗦𝘂𝗽𝗽𝗼𝗿𝘁: Many governments offer grants and incentives for innovative startups. We've benefited from R&D grants that accelerated our product development and export promotion grants that helped us expand into new markets. • 𝗥𝗲𝗺𝗼𝘁𝗲 𝗧𝗲𝗮𝗺𝘀 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲: By embracing remote work, we've assembled a remarkable team with diverse skills and experiences from around the globe, tapping into the world's best talent pool. • 𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗘𝗦𝗢𝗣: Offer an Employee Stock Options Plan early on to attract top talent and foster a shared sense of ownership in the company's success. • 𝗡𝗲𝘃𝗲𝗿 𝗨𝗻𝗱𝗲𝗿𝗲𝘀𝘁𝗶𝗺𝗮𝘁𝗲 𝘁𝗵𝗲 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗠𝗲𝗻𝘁𝗼𝗿𝘀: Find experienced advisors who have navigated the startup landscape before. Their guidance can save you valuable time and help you avoid common pitfalls. For example, my mentor helped me refine our pricing strategy, which significantly improved our bottom line. 𝗥𝗲𝗺𝗲𝗺𝗯𝗲𝗿, 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗮 𝗦𝘁𝗮𝗿𝘁𝘂𝗽 𝗶𝘀 𝗮 𝗠𝗮𝗿𝗮𝘁𝗵𝗼𝗻 Embrace the process, learn from setbacks, and never give up. If you're passionate about solving problems, you too can create something of lasting value! #startups #entrepreneurship #startuplessons  #KatonicAI #founderstory

Does the amount of money spent in an industry define its success? Great reading through the 2023 State of Australian Startup Funding Report, put together by Cut Through Venture & of course the wonderful team at Folklore Ventures (link in comments if you haven't seen it yet) High-level takeaway: $3.5bn was invested across 413 venture deals in 2023 - a number very similar to 2020, but about half of 2022, and one-third of 2021. (Pretty cool to have such transparency in what can be a very opaque market) I also enjoyed the media reactions (kudos to Business News Australia for headlining their article with the image of a man falling off a cliff) Got me thinking - does a reduction in investment actually represent that 2023 was a "bad year" for venture funding? I suppose it depends on what you define as "bad". My view is that the ultimate determinant of success of the venture industry, considering the incentives of almost every participant in it, is the outcomes of venture-backed companies 5-10 years after initial investment. How many businesses are a) still operating, b) flourishing, or c) truly thriving. I posted last week about the equity payday for early Canva employees - they raised their seed round in 2013. That's the time period we need to judge success. On this basis there's an argument that 2021 and 2022 may actually represent the "bad" years - Series B and later stage companies who needed capital in 2023 appeared to be the worst hit by these new funding conditions. But again, we won't know just yet. If it were possible, I would wager that companies who raise their initial rounds in "tougher" funding environments (2023, maybe 2024 - who knows) will outperform those who raised in 2021-2022, on average.

Are you willing to invest a decade into your idea? → Even if the world barely notices? → Even if you hit the billion-dollar lottery → Would you still chase it? → Be honest. Is your dream truly driven by purpose, or is it just a way to get rich? Take Melanie Perkins, co-founder and CEO of Canva, as an example. A platform many of us use daily to bring our ideas to life. Her journey was anything but smooth. Rejected by venture capitalists over 100 times, Melanie didn’t take no for an answer. → Every “no” taught her something new. → She refined her vision. → Perfected her pitch. → And kept pushing forward. She didn’t let rejection define her path. 𝗜𝗻𝘀𝘁𝗲𝗮𝗱, 𝘀𝗵𝗲 𝗺𝗮𝘀𝘁𝗲𝗿𝗲𝗱 𝘁𝗵𝗲 𝗮𝗿𝘁 𝗼𝗳 𝘁𝗲𝗹𝗹𝗶𝗻𝗴 𝗮 𝗰𝗼𝗺𝗽𝗲𝗹𝗹𝗶𝗻𝗴 𝘀𝘁𝗼𝗿𝘆 𝗯𝗲𝗵𝗶𝗻𝗱 𝗵𝗲𝗿 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻. Today, Canva brings in $1.7 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in revenue, serves over 100 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 users, and employs more than 4,000 people. Canva is now valued at $40 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 and has raised over $200 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 in funding. Her mission wasn’t just to build a company—it was to solve a problem she was passionate about. So, ask yourself: → Is your dream worth 10 years of your life? → Does it have a mission with real purpose? → If you won the billion-dollar lotto, would you still pursue it? Melanie’s story proves that success often comes after countless challenges and rejections. But if your dream is fueled by passion and purpose, there’s no limit to the impact you can make. So, are you ready to dedicate a decade to your vision? Be prepared to 𝗳𝗶𝗴𝗵𝘁 for it—no matter the odds. 𝗡𝗲𝗲𝗱 𝗵𝗲𝗹𝗽, go to our website and reach out. Follow me, Gerald Duran for daily startup and VC mentorship, 𝗰𝗼𝗺𝗶𝗻𝗴 𝗶𝗻 𝗵𝗼𝘁 from CanaGlobal's faith-driven venture studio and startup incubator.

𝗙𝗿𝗼𝗺 𝗯𝗼𝗼𝘁𝘀𝘁𝗿𝗮𝗽𝗽𝗲𝗱 𝘁𝗼 𝗮𝗰𝗾𝘂𝗶𝗿𝗲𝗱: How Kaleido AI Got Acquired by Canva In 2019, two founders and their team in Vienna launched AI visual tools like: > remove.bg > Unscreen By 2020, they were used by: → Over 100 million people → In more than 180 countries → Individual creators to Fortune 500 companies And they were completely bootstrapped with no investors involved from day one. Kaleido AI is the ideal startup we look for when it comes to M&A opportunities. ✔ They were a great company to begin with. ✔ The founders were fully committed. ✔ Products were simple but works. So what did we need for an M&A deal? Synergy. Canva had an AI vision for their design ecosystem. And Kaleido AI was a startup that could help fulfill that vision. At i5, we prioritize the strategic fit of a startup in the acquirer’s portfolio. And so Kaleido AI and Canva was a match we knew had to happen. We hope to get more unicorns like Canva to acquire hidden champions like Kaleido. Looking forward to helping more M&A deals happen in the AI space. #growth #founders #investors #venturecapital #privateequity #startups #i5invest Looking to get acquired? i5invest is a corporate development firm with access to 150K+ top decision-makers in Strategy, Business Development, and M&A. We provide innovative tech founders with insights, expertise, and access to our network to take their companies to the next level. Check other M&A deals we facilitated here: https://lnkd.in/dqQdQ5SC

🚀 Excited to share a milestone moment on my journey as CRO of Fountane Inc.! As a first-time CRO navigating the whirlwind of a high-growth startup, I've had my fair share of challenges. But today, I'm thrilled to announce that for the first time in six months, I can finally describe what we do in a single sentence! Brace yourselves: "We create enterprise value with tech-enabled services, products, and joint ventures." 🚀 Now, before you roll your eyes at what seems like a marketing cliche, let me confess - crafting that one-liner wasn't exactly a walk in the park for me. If you know me well, you know word economy is not my thing. As someone more accustomed to problem-solving and crunching numbers than crafting taglines, it felt like pulling teeth, and it took me six months to get there. Along the way, I tackled such eye-rolling questions as Is "digital and AI-enabled" stronger than "tech-enabled"? While "digital and AI-enabled" certainly sounds more cutting-edge, "tech-enabled" has a broader appeal and encompasses a wider range of technologies beyond just AI. And what about our global presence? Being a global organization isn't just about having offices scattered across different time zones. It's about understanding and embracing diverse perspectives, cultures, and markets. It's about leveraging our worldwide network to drive innovation and deliver value on a global scale. But I left it out because the sentence was already too long. Also on the cutting room floor, the HOW. Joint Ventures are amazing and give me so much energy and it hurt to not include it my "hero sentence." What is a Joint Venture Studio? An organization that excels at solving problems as a service and building digital products and companies. We're strategically embedded technology partners and when we identify a problem that demands a more comprehensive solution, we don't hesitate to roll up our sleeves and dive into joint ventures with our clients. Investing both capital and human capital. Because sometimes, fixing platform problems requires platform solutions. It's a bold approach, it's a unique approach, and it's what sets us apart in the crowded landscape of startups and service providers. So, there you have it - a glimpse into my journey of clarity, self-discovery, and innovation. Here's to many more milestones and breakthroughs ahead! 🚀 #Fountane #TechEnabled #Innovation #JointVentureStudio

I recently spoke with Steffan Bankier about his experience as an intern (over 2 summers b/w 2018-2020) at BCG Digital Ventures (BCGDV). The full interview is available on the Jobs @ Venture Studios website. Here are some highlights: "When I learned about BCGDV, it seemed perfect-a venture studio where BCG partners with clients to launch new businesses and pitch them Shark Tank-style for investment. Best of both worlds-consulting and startup. As a Venture Architect, I worked with experts, designers, and developers, building solutions to address specific customer pain points. It was a very cool role." "The idea of working in a studio within a larger company reduced the risks associated with startups (and why people don’t start or join startups). It also allowed me to experience consulting and learn from intelligent, emotionally aware, and exciting people. I loved the idea of being able to build businesses at scale, which would only make me a stronger founder. But the highlight was definitely the people." I asked Steffan: What would you recommend people do when they're looking to work for a Venture Studio? His answer: Start something. "When I talked to Venture Studios, what set me apart was proving I could launch a business. It doesn't have to be a crazy or even a successful business—none of mine were massively successful. Showing you have the grit to get something off the ground, even if it's just a monetized blog or a small side hustle, is important." Venture studios can be a great place for entrepreneurially-minded interns: * Lots of diversity in the work * Have to make up a lot of stuff on the fly * Get to see how startups are build from zero (and appreciate all the challenges) * There is an element of security (at least within a bigger studio or a corporate studio - although Steffan Bankier has a great story about his experience in a corporate studio that didn't quite work out!) versus starting your own company

How cool is this?! 💯 In a tricky venture capital market, the Tracksuit team have come out swinging 🥊 💥 Aside from the core areas that a startup needs to get right in order to scale and raise proper money (focusing on a core problem, providing a scalable solution to said problem, demonstrating product product market fit, showing proof of a viable commercial model) the area that I think that have shown an absolute MASTERCLASS in is their branding. From the outside, this is a brand that: ✅ Has made their brand relatable to their buyers ✅ Has encompassed their brand in how their people show up (quite literally) ✅ Through social media they portray an element of work hard, play hard. And why is that important? 1️⃣ People buy with emotion. A fun, energetic brand that relates to the customer, sells MORE. I have no doubt that there are a number of companies who really want to work with Tracksuit because they love the brand. 2️⃣ Great people want to work for great brands The way Tracksuit portray their brand, particularly through LinkedIn, does wonders for their employee brand. And, 1️⃣ + 2️⃣ = more deals (revenue) + great people (who continue the build of a great product) Investing in your brand takes time, but man does it pay dividends when it's executed well 💯 Awesome mahi Tracksuit! #venturecapital #startups

Dilution per round trending Credits to Peter Walker, follow for more infographics ------ Here's the original post: Founders - if you're in negotiations with a VC and they are asking for a higher percentage of your company due to "market conditions", show them this chart. Median dilution (meaning percent sold to investors) in primary venture capital rounds in the US has actually 𝗱𝗲𝗰𝗹𝗶𝗻𝗲𝗱 from the second half of last year until now. Look - there are many reasons why this may be the case and not all of them are founder-friendly. 𝗙𝗼𝘂𝗻𝗱𝗲𝗿-𝗳𝗿𝗶𝗲𝗻𝗱𝗹𝘆 𝘀𝗽𝗶𝗻 𝗺𝗶𝗴𝗵𝘁 𝗯𝗲: • VCs (especially at early stage) recognize that over-diluting the founding team sets up challenges that on for future investors.    •  The general startup market has settled on more reasonable terms for most deals (about 20% in seed and series A, for instance) even outside of Silicon Valley and NYC. 𝗙𝗼𝘂𝗻𝗱𝗲𝗿-𝘂𝗻𝗳𝗿𝗶𝗲𝗻𝗱𝗹𝘆 𝘀𝗽𝗶𝗻 𝗺𝗶𝗴𝗵𝘁 𝗯𝗲: • Only the "best" deals are getting done, and therefore the founders in those competitive deals still retain a lot of leverage in ownership discussions.    • There's some increased expectation of bridge or extension rounds, typically led by investors already on the cap table - so they may increase their ownership through that route instead.    • Terms like liquidation preference and participation are popping up a little more frequently than before. But in general, it seems that even in this difficult fundraising environment, dilution for founders in a given round has drifted downward. Cool to see, even while the distributions with each stage remain rather wide. (And take it easy on those VCs - they do need a certain percentage of ownership to make the math work on this whole asset class!) 𝗠𝗲𝗱𝗶𝗮𝗻 𝗗𝗶𝗹𝘂𝘁𝗶𝗼𝗻 𝗧𝗼𝗱𝗮𝘆 • Seed: 20.4% sold to investors • Series A: 20.0% sold • Series B: 15.2% • Series C: 12.6% Share with a fundraising founder! And if you're in pre-seed stage, shout out in the comments for a link to our pre-seed event on Wednesday morning where we'll cover dilution in SAFE or Note rounds. Final caveat -  this is across all sectors. If you want a sense of dilution for your sector specifically, let me know below. ♻️ Found this helpful? Repost it so your network can learn from it, too. Follow All Chance to learn from innovative visuals. #Startup #innovation #entrepreneurship #sustainability #investing #networking #venturecapital