Jithin Nedumala, About Making a Significant Difference

Jithin, cofounder of Make A Difference, is a huge inspiration. From starting up and establishing a nonprofit to making a huge impact with it; every aspect of his journey with MAD has been truly inspirational. 9 years since inception, MAD today reaches to the needs of over 5000 children in 23 cities through a 2000+ volunteer network. MAD is also one of the few NGOs supported by Mitchell Obama’s International Youth Development Program!

For those who ask yourself.. “I am an investment banker alright; but how am I impacting the community I live in?” Jithin is the bout of inspiration you need!

In this interview we spoke about MAD’s philosophy, its vision  and the various challenges around running a nonprofit.

On MAD’s Mantra

MAD’s philosophy is that to treat a shelter home kid as your own. Your ideal society is one where underprivileged kids get to be treated the same way as any other kid. How do you see this working out with MAD?

At MAD, we strive to provide the best attention possible for a kid in shelter home. An average MAD kid will have 5-7 volunteers working with him/ her. 4 volunteers would be responsible for the education of the kid, one would ensure the kid leaves out of the shelter home at least once a month (experience the world outside) etc.

The idea is, in MAD we have identified the roles a fulltime parent would provide and divide that into various activities volunteers could perform under the banner of MAD. Thus trying best to imitate the life the child would have got under the parents.

Volunteering network and the challenge of mobilizing it

How is the volunteering system setup and how does it work as a coherent unit?

MAD is run centrally by a fulltime working National Team which coordinates with multiple City Teams – which are mostly run by volunteers.

The National Team, constituted by 17 fulltime employees, has a central vision which it carries out with the help of City Teams. The national team interacts directly with a group of people called “Strategists” in the City Teams who are responsible for 4-6 cities. Strategists further have a link with “Fellows” who are individually responsible for all volunteer activities within a city. All ground level volunteers interact with the Fellows to carryout daily volunteering activities.

MAD Structure

We have made the volunteering model truly inspirational and flat by encouraging them to move around and take-up diverse profiles.

How do you plan to mobilize and get the best of your volunteer network? What are the challenges which come with it?

We have a separate unit called “Mobilization Team” which strategizes to enable the volunteering community to be motivated throughout.

Inspire the Volunteers: We constantly organize events to engage the volunteers. Here we tell them about success stories and about how children are impacted because of their efforts. This way we intend to keep the inspiration going.

Provide Support: We are always there to hear them about to solve any genuine problems they are facing. We train them on how to deal with children and sort out any issues they face being on the job. Basically, if you are supported the chances of you continuing is even more!

Challenge Them: People think, easier the assignment, more floundering your volunteer network. This is actually wrong. We have the volunteers want to be challenged! We provide them tasks which take them to their edge of capabilities. That way, we see volunteers continuing with us.

Collectivize: Make them feel part of a common identity. Everybody feels part of MAD and they feel they’re strongly connected to each other etc. A MAD volunteer never does anything alone. The relationships they develop also play a big role.

Other than this, we’ve also made a point to not make it work only. We go for treks together and other activities which all has a combined effect to ensure this is a cohesive unit.

Managing an nonprofit – Getting your hands dirty

Management of an NGO:

  • How do you get the funding?

We look at our self as a product company. Our product is one which promises 25 years from now there will not be even a single child in the street. And there is a separate class of people who would like to buy this product – for example Mr Azim Premji just said he is planning to put in INR 1250 Crore to make India a better place for children. 1250 Crore is just money; and he needs somebody to deliver. So basically, his foundation Azim Premji Philanthropic Initiatives need to find people to get this job done and that’s where we fit in.

  • Challenges in fund raising.

You can’t rely on one type of fund raising. For example, we get funded INR xyz Crore from a fund for a 3 year period; you don’t really know if they will fund us again (after 3 years)! So diversification of funding is a major challenge.

Another issue is that you need to reach to a particular stage to get into the purview of such funds. These funds will be interested in you only if you’ve made it some level on your own.

  • How are salaries of full time employees decided?

Planning on salaries of our 17 member National team is pretty straight forward – we hired a consulting company which performed a market research of salaries among all NGO space. The salary we get are decided based on the report.

About MAD’s vision

Your vision statement, to ensure no kid is in street/ trafficked 25 years from now. Can you explain how plan to achieve this?

There are 20 million children in India supported by shelter homes. Currently we have a volunteer based mechanism of delivery which we can extend to cover up to 1 million children.

In parallel we plan to convert ourselves into a hub system where we also act as a training institution with focus on training other large NGOs who intend to deliver support to children. Through this kind of growth we intend to touch 5 million children.

We are also targeting revision of “Juvenile Justice Act” which as of now is very straight forward and doesn’t cater to all needs of a child. Government is the largest provider of shelter homes in the country and the idea is to make a course correction by making the Act more wholesome – we see this kind of influence from MAD happening in next 10-15 years. We see our self to work with the Government to implement it – in terms of training the staff to implement in a phased manner across the country.

About Travel?

We travel quite a lot actually; mostly to keep MAD going as a well groomed network. Every weekend, the national teams travel to the 23 cities and hear the volunteers’ say; we hear their journey and keep them engaged. In this time we try our best to make them feel part of MAD family as they truly are!


There you go folks! That’s Jithin making a difference, a significant difference! Do write your thoughts in the comments section.

Hope to keep this blog going with more interesting personalities! Cyall till next time J

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The Business of Microfinance – Listen to Mr Samit Shetty, Co-founder Chaitanya Microfonance

Besides the usual activities of lending, borrowing, customers profiling etc., Microfinance firms play a much bigger and righteous role. The role of empowering & educating the powerless & uneducated. The role of providing a righteous life for those with lesser choices in life and for those who are often omitted by the bigger corporates. The 7-8% GDP growth India boasts about never touches these masses and we cannot be a developed country until this section of people are developed.

What it is to run a MF business? What are the challenges of microfinance firms? How does their business work? How do they justify charging humongous rates (20-25%) from the poor? What to the borrowers do to manage the repay such heavy interest?

Find out this and more from Mr Samit Shetty, Co-Founder and Director Chaitanya Microfinance. Chaitanya is 6 year old firm with exposure across Karnataka and loans books of value greater than INR 100 Crore. Before Chaitanya, Samit had worked in Olam international for 9 years with exposure across Africa and South America. Samit is an alumnus from IIM Ahmedabad.

 

About Chaitanya Micro Finance:

We are setup as a company focused on delivering credit products to rural segments. Setup and operating entirely in Karnataka, we have an exposure of about INR 100 crore. The idea is also to evolve into building liabilities and other non-joint liability group financing.

We started off focusing in Karnataka because we knew the market well (comfort of home state etc.) At the moment, we have obtained a stability which allows us to look at other states too.

40% of Indian population is unbanked. A lot of things are happening today to improve the figure – but why are we in this position in the first place? What are the practicalities of Financial inclusion?

 We need to create a viable platform for private enterprises to spread banking across India. And for various reasons, we have not let private establishments to survive in the rural segment.

To have a good heart is only a start; to scale up and make your company impactful – you need to have a business case and investment case. Government in general has not allowed private enterprises to thrive in rural areas.

There are unreal expectation from Government in terms of interest rates and cost of transaction. For example, person ‘A’ is borrowing INR 1 Crore and ‘B’ is borrowing INR 1 Lakh – cost of the transaction is same or similar but you should obviously charge greater interest rates from person B to make your business viable. Regulation of interest rates and other interventions ends up killing the business; you don’t allow the business model to function and evolve.

A poor family borrows INR 25000 (for example) to set up a tea stall or buy a cow. MFI business demands humongous rates in the range 20-25%. How is it viable for a poor family?

There are a few ways to look at it:

  • A company lends money at 25% while the cost of transaction and cost of borrowing for the MFI is an average of 22% which means the microfinance company makes only 3%. The 25% lending is not because of any monopoly – there is enough competition in the market to drive the rates to equilibrium.

  • Second angle is from the borrower’s point of view. Most businesses for which MFI lends would have high marginal return on capital. For example, you buy a sheep for INR 4000 – in 6 months the sheep would return INR 7000. This means you have a 75% return in less than 6 months. The 75% return is certainly good to bear the 25% cost on the loan. On the other hand, it is only MARGINAL and if you do invest on 20 sheep (expecting 75% return) you also need to spend on manpower and other infrastructural aspects which would reduce the return %.

  • Besides all these factors, we charge the 25% on declining balances which means effective interest would be just 12.5% (means a INR 10,000 loans has an interest of 1,250 when repaid using a EMI)

What when loans are doled out for non-business activities (such as for marriage). How are the returns ensured/ mitigated:

Most important aspect in this business is, you need to be cognizant of the cash flows and overall loan portfolio of the customer – if you loan him INR 10000 for marriage expense, you should also understand what the customer is up to and can s/he generate enough cash flows to satisfy your requirements?

It is the responsibility of the microfinance institution to understand the customer’s other income generating activities and identify if s/he can make the repayment. If there is doubt that repayment is going to be beyond the means of the individual the lending is predatory and it does not change if it goes into non-business activities.  A lot of our lending is for cash flow management, which the borrower essentially needs and then it is about being as affordable as possible.

How do MFIs track the loans?

All MFIs do Loan Utilization Check. At the time of loan issuance we are more accommodative and encourage them to tell exact purpose of the loan. This way we would really know how customers are actually using the money. We have seen that it’s better to keep the purpose open and lend to all purposes, rather than being very hyper about focusing on a specific purpose.

Further based on track-record of the customer we educate defaulting customers.

Small Finance Bank (SFB) License: how will your business change if you get a license?

Am very excited about this as we get an opportunity to prove that a private sector “for profit” model can solve financial inclusion issue in India (assuming Government keeps its hand away in terms of intervention). As for operation is concerned, we will try to keep the geographical focus sharp and stick to 20 districts in Karnataka.

Challenge of raising deposits (if SFB happens):

Some cash burning is indeed required – no one questions when Flipkart burns cash! In this industry if you burn cash, we will have a concrete business footprint in rural area and capture a large chunk of deposits currently going to informal entities. In this business, market entry is comparatively very difficult. We should be more willing to burn cash!

We have a roadmap to financially break even in 5 years – by breakeven I mean make profits at return on capital of 14-15%.

Men vs Women – who are more trust worthy when it comes to repayment?

There is no doubt about this. The question is, do you want to support the family or support the individual? It’s women (mostly) who support the family and the reality is that men are more individual.

Favourite books?

Road Less Travelled is a great book for kind of self-reflection and rationalization. I also like Gandhi and have read a lot about him and what he has written.


So there ended the interview – a good kind of sneak-peek into the Mircofinance business! Hope you liked it; please do leave your thoughts in the comments section. If you have further questions to be asked or discussed upon, again please leave it in the comments section.

Samit LinkedIn – goo.gl/T123kK

Cheers!

Meet Vasuta Agarwal, An Inspiring Young Leader from InMobi

Vasuta Agarwal, Head of Global Partner Management in InMobi is a charm indeed. She is one of the fastest rising stars in InMobi having donned lead roles across various facets of the organization.

It was a delight to host this interview where Vasuta spoke about her time in InMobi, McKinsey, career growth, her view of success & failure, ambitions, thoughts on female leadership and much more!!

I experienced relativity of time at its best – had no clue how an hour of talking flew by! I present you Vasuta Agarwal from InMobi – Read on folks!


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Thanks a lot Ms. Vasuta for giving this opportunity. Let’s get started with InMobi first – you’ve been around here for more than 3 years now! Please tell us about the time you spent here.

I joined here as part of the Founders Staff Team, which was actually a sort of strategy and operations team working closely with the founders in different initiatives. The 9 months I spent there, I was involved in a lot of execution support, planning and initiatives which involved thinking though like an organization. It actually gave me lot of exposure to different people and to different teams.

I spent about 6 months or so in the product team handling the location-based advertising products and online sales products for online customers. And after that I had an option to move on to a business role – which was where both my strengths and interest was – and I’ve been here for two and half years now!

This shift from handling an internal product based role to a business role to sell your products to the outside world is generally considered very good and seen as an opportunity to grow your wings in the organization – please tell us how different and difficult it was and how it complemented your career.

I think the big difference here was one – the business handling and the external facing part and the other is the part around revenue and targets etcetera. The later was stuff related to revenue goals, meeting certain growth expectation while the former was around building a team, innovation and other aspects related to it. The change was something really exciting as I felt my forte lay there! It was more about my interest than anything else.

Moving into this role also gave me something like an outside in view as you get the opportunity to pitch it in a competitive scenario and bring a lot of inputs back to the organization. Initially it was indeed challenging but overtime it was very interesting with so much development happening in the market.

Before going into InMobi, you spent a couple of years in McKinsey. Probably a quick 2 minutes about your time there?

I joined McKinsey immediately after my MBA; I was extremely excited to join there considering it was one of the most sought after jobs out of campus. My experience there was phenomenal, it’s just the breadth of exposure it gave me across different industries, different geographies and working with extremely good and smart people; people who are execution focused and learning from them was very good for me from learning perspective.

You were living the Indian dream – from BITS Pilani, MBA from IIM Bangalore and McKinsey! That would be the definition of success for most Indians. What made you leave McKinney?

The learning experience and the foundation which I built at McKinsey was absolutely unmatched – but after I got exposure to couple of industries and clients, I wanted to drill deeper in one industry and really develop my career there. Consulting gave me the breadth of exposure, but not really the depth in one vertical this was one consideration.

Secondly, from lifestyle standpoint I really didn’t want to do a role which required 5 days of travel a week, being away from home.

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Post McKinsey, why InMobi? What are the factors which helped you take the leap into the firm?

My batch mates and alumni were working with different people in the firm already (at that time); they were in different roles cross functionally and they themselves had some very good things to say. This good feedback across functions really helped my confidence as it was not limited to a particular person or one team.

The other aspect is that, it was a really interesting sector. As a person also I am very risk taking and not the type to launch a massive research and know everything before taking the leap!

Let’s dig a bit deeper on your InMobi career. Being in the founders’ team in InMobi for close to ¾ a year, was it the strong foundation you had which convinced you to stay and made you grow at InMobi? Tell us about the time you spent in the team!

One big aspect of my experience in founder’s team is it exposed me to many people and teams cross functionally. You end up building a lot of rapport and relationship with people across function because I have to work with them. This gave me a bird’s eye view of the organization and set me up to identify my interests, helped me understand where I can path my future.

Also because you’re working with the senior leadership team you get the chance to exhibit the quality of your work to senior members including the founders. This part gave me recognition as I got the opportunity to show my skills to senior people directly. The relationships you make from the role lasts with you forever!

Tell us about the business development role which you’re currently in InMobi.

Business development at InMobi is about developing long-term partnerships, locking mid to long-term deals etc. obviously revenue targets are part of the role, KPIs associated to every quarter. It is a lot about trying to pitch to the client what they’re looking for than just sell your product. So, the key component is understanding your client needs and positioning your products in the way your clients would want it.

The aim is more to develop a sustainable business through the relationship we develop – than being a onetime success.

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Lot of MBA and Engineering grads end up in their first job through campus placements; and we all know how hap-hazard campus placements are! You might end up in a firm/ role which might not be best for you. How do youngsters tackle this? While still at an unsatisfactory job, how do you climb out of it?

I would say you need to be able to decide for yourself – job after MBA is not really the end of the world as you’re just starting your career. I think every job requires 6-9 months for you to really know about it and you may actually be pleasantly surprised. You might think am not made for finance but 6 months into it you’ll like it.

But if you genuinely feel it’s not your cup of tea, you can always switch – considering the plethora of options you have. Some people have this idea that since you started on this role you’d want to stick to it for a few years – this mentality is not going to help on the long run.

What really motivates you for success?

Solving a challenge is the best motivation for me – be it a business challenger or team challenge. Any opportunity to grow and learn more things; to get more exposure – that really motivates me. Being part of a really good team also is a good reason for me to do the extra mile…in terms of who I am working with, their energy levels etc.

Future plans?

A lot of future planning doesn’t work out for me; I think the more you plan, the more you try to change the current and that may not always work and it does take away focus and energy from your current role and you might miss out on something because you’re fixated in a particular future.

My belief in this philosophy is strengthened also because of the dynamism in the industry I am in, with the kind of new roles opening on almost a daily basis; it’s really hard for me to plan

Apart from the fact that I want to be in a senior level role in this space as I believe there is a lot of growth potential in this space I haven’t really thought much about it. Maybe at some point think of my own start-up or company – again not really thought too much into that!

I am a big fan of Sheryl Sandberg and think what she is doing with her “Lean In” campaign is fantastic! I would like to hear from you the practical aspects of female leadership – what does it take for an aspirational female to be successful in this majorly male dominated world?

Frankly, I think it’s about how you think about it. In all my professional experience, I’ve been in an environment which has largely been guys – this is always going to be there if you look at it that way! This is something women need to think of as an advantage rather than handicap.

If you expect privileges and special interest because you’re a woman, people will probably treat you as a different person and not as a colleague/ peer.

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Graduation is a person’s first view of the outside world, mostly the first time an average person steps out of one’s comfort zone. Can you share you life at UG and how it helped you to where you are?

BITS Pilani was a wonderful experience for me as it was not only about the studies and classes but also about overall person development. My UG helped me develop interpersonal skills through theatre, dramatics and so on.

Academics is only a part but the overall development you get at that stage helps you a lot in terms of communication skills and interpersonal abilities and boosts your confidence level.

You still do stage?

I am part of the theatre group in Bangalore.. and many of them in the group are my juniors from BITS. My husband, senior from BITS, is also part of that group and acts actively. Theatre is actually how we met. Even though I am associated with the group I’ve not been active in the last 4-5 years.

That’s great, am myself interested in theatre and do take an odd visit to Raghashankara/ Alliance Francaise. You also mentioned reading as one of your hobbies – any favourite books?

Am more of a fiction person – I don’t read that much non-fiction. I have a diverse set of books, the classics – Jane Eyre, Little Women, the Victorian Classics – I’ve read the whole lot of that.

I later moved into fantasy fiction – the entire Harry Potter series.. recently even read the entire Game of Thrones series.


There it is folks.. That was Vasuta Agarwal – young, dynamic and ready for new experiences from the word go! At the end of an hour-long call, one thing about her hit me – she is highly execution oriented and a real pragmatist.

Her willingness to come out of comfort zones and embrace change is really inspiring. It was a delight talking to Ms. Vasuta and would like to thank her and wish her well!

Thanks for reading! Please leave your thoughts in the comments section. If you have any particular question to be asked to Vasuta herself, do drop it in the comments!

Stay Hungry Stay Foolish

Meet Sasha Mirchandani, Founder and MD, Kae Capital

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As I kick off this pet project, My Two n Half Cents, I would like to post one of the first serious interviews I did (when I was) part of “$treet”, The Finance forum of NITIE. Part of Street’s quarterly magazine In-Fin-NITIE, we regularly interview prominent personalities from the industry.

For one of its editions, we had Mr Sasha Mirchandani and (I should say) what a time we had with him in his Nariman Point Kae Capital office. Mr Sasha, Founder and MD, Kae Capital (majority investor in some really successful IT start ups such as myntra.com, InMobi, eFarm etc) can probably be called a serial entrepreneur. A quick glance at his LinkedIn profile shows us he has been part of the founding team of various ventures; Mumbai Angels and Kae Capital to name a few.

You could ask me why is he “probably” a serial entrepreneur? That’s because ladies and gentlemen, Sasha is a classic case of someone having shaped by a mix of entrepreneurial and rich corporate experience.

I give you, Sasha Mirchandani! Read on, folks.

Q Hello Sasha, please tell us something about K capital.

K capital is India’s First seed funds.  We have 25 Billion US $   (about 150 crore) under management. We do early stage investments from 50 000 to 500000 US $   million dollars. We can invest up to 2 .5 Million dollars in a single company.

Q There are entrepreneurs flourishing in diverse areas; there are diverse set of sectors out there where they are doing really good. Is Kae Capital focusing its research and investment in any particular sector? What sectors do u target?

We invest mostly in early stage technological company that are capital efficient. We have funded multiple sectors which includes one e-commerce Company, couple of internet Companies, three payment companies, two cloud based companies. By and large we have been very opportunistic about the investment. This year we have had far more thesis focused approach but generally we focus where there is an opportunity and the team is world class.

Q How big is the threat that current economic possess for Kae capital

Well, obviously we are not happy about current investment scenario. There is tremendous amount of gloom but good news for us is that the space where we operate is in really early stage. Generally the companies are not that badly affected. Obviously with issues like people buying less, Dollar at 60, Inflation in a mess and so on so forth, it does not help but we focus on early stage companies where issues are more about product, adoption. But yes as these companies grow they will get into tailwinds and headwinds of economic conditions. More clarity would come after the general election. The key number one reason for me to hope something good is only if there is a clear majority by a political party. I really do not care which party wins but it should be in clear majority as then only they would be able to make key economic decision, hopefully some sensible decision to drive the Indian economy.

Q What are key differences dealing with providing seed capital to a new entrepreneur and a company already established.

We generally invest in new entrepreneurs. Our model is to bet on youngsters with a visionary idea.  Facebook, Google, Yahoo were all once a new idea. Our investments in the past as well are generally fresh start-ups.

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Q There are so many ventures in your name like Mumbai Angels, BRB advisors the list goes on. Have not you felt that you should have struck to one place and make it big.

They are all very different. I started with my family business which is Onida which is still going and run by professional. BRB was a job, it was not owned by me, I worked there for four and half years. It was great learning for me where in I worked as head of India with reputed venture capitalist around the world. Mumbai angels was co-founded by me and is still going very strong and is independently run. Kae capital is an institutional fund, so they are all very different and any two cannot be compared. Mumbai angels are still growing and we are now aiming Bangalore angels, so that’s growing constantly. The idea is to put professionals in the forefront so that they can scale faster without founders being in the way.

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Q Moving from Mumbai angels to k capital, does it really change the way you evaluate entrepreneurs.

One clarification that I have not moved, Mumbai angels is still very much under me but it is now professionally run. Coming to your question, it is a very good question. Sometimes there is an individual investor that has different premise, thesis and risk appetite verses being institutional early stage investor. The mind-set, return expectation are different.  In a fund you want to follow on invest, seed investor generally do not follow on invest. So there is definitely a situation where I would have funded as an individual but as a fund it becomes difficult and probably would not have done that.

Q Exit strategy is very important. At what stage do you decide to exit your investment in a company?

I think what we do as VC is if we can make back half of our fund, for example if fund is 25 Billion $ then 10-12 billion $ is a reasonable return. So that point we consider an exit if there is an opportunity. If I am investing in my private capacity I could look at the X i.e. 2X, 3X or 5X and do I see this company constantly growing over next couple of years. If I am getting good returns but I feel risk is very high I would get out. The reason I may stay if I really think it would be a big company. If you really want to make big returns in this business you have to be there for long.  For example still the largest individual shareholder is Inmobile which is probably the most successful start-up in India. The reason I stayed back is that I truly believed that Naveen, Amit and Abhay would built a global business of scale. If you know it can become this big it would be unlucky not to have continued as shareholder of that company.

Q What are the annual targets, Milestones or five year plan which K capital has?

We do not have 1 year or five year goals because our fund is generally a 8 year fund. So it is very different from traditional business. Ours big goal is to maintain returns and to fund entrepreneurs who are most determined. We did extensive research on what makes entrepreneurs successful -some said intelligence, some said assistance, but we found fundamental trait that makes best entrepreneurs is determinations.  We want to build a firm where entrepreneurs would come and enjoy working with us.

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Q You have been in this industry for long time. What kind of transformations has entrepreneur style gone through?

Entrepreneurs are now thinking bigger. I have seen Indian entrepreneurs thinking small while when I go to Stanford they come out with a billion dollar plan. Now it is not about millions or billions but about thinking big and having vision to build a global business here. There are many other traits and trends that I have seen but I feel this this as best.

Q Intuition plays a big role in investing. How much decision is actually given by this intuition?

Valuation at this stage is a combination of art and science.

Q what advice you give to a B school graduate who aspires to get into a VC industry?

I would strongly urge people to get operating experience. You cannot generalize as to one can or cannot do it but the best VC are people who have operating experience because they can empathize with entrepreneurs as to what entrepreneurs goes through as they have worked with operating sense . They can also add value by giving sensible input. So one is empathy and second is strategy. Hence I strongly urge people with operating experience.

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Q The moment we got here in this room we were electrified by the quotes present all over. Does k capital follow these types of virtues and values?

The main thing is K capital vision and mission  as that is what we have put . The rest are people we respect .It just a study.

Q You mentioned about Jim Collins. Even your vision and mission are inspired by one of his book.

I have read his books many a times. The best pun: we want to outperform. He said let’s give a number to it. Quantify target. So if we get 10 X results that means we have worked well.

Q What kind of personal milestone set by you in your life?

I want Kae capital very successful. In the perfect world professionalize it. So one day it will be run by people other than me and I’ll be doing something completely different. Youngsters like you would be running it. I don’t see myself running K capital 30 years from now.

I need to determine who will run this company and run it as independent.

My guru Ashish Dhawan who retired at 42 to give it to philanthropy. I want to work for social causes.

Ashish was no 1 guy in industry for him to retire is not only commendable but beyond commendable. We should be in a position to draw the line that enough is enough and the amount that I have earned is sufficient for me and my family and next generation and now it is time to do some help.