Sramana Mitra: Switching the line of questioning, what are you thinking in terms of how you want to play this fund? Are you looking for unicorns? Are you looking for strategic early exits? What is the analysis? Alok Nandan: When we come in as investors, there are two guys in a garage most of the
Sramana Mitra: Do you want to do another use case like that one? Alok Nandan: Let me give you another one that is public. This is a company called Blitzz.io. There are two founders. One of them is a technical founder. He was in another venture-funded company. He was the Director of Engineering there. The
Sramana Mitra: You are looking for a founder that you feel good about. That is your answer. Alok Nandan: Unfortunately, it is subjective because at the seed stage, you don’t have that many metrics to go after. Series A and beyond, you have numbers and data that you can look at. At the seed stage,
Alok Nandan, Founding General Partner, First Rays Venture Partners, discusses the firm’s investment thesis which is very well-defined and focused. Sramana Mitra: Let’s start today’s session with a conversation with Alok Nandan, Founder and General Partner of First Rays Venture Partners. Alok Nandan: Great to be back. Thanks for having me.
Alok Nandan, Founding General Partner, First Rays Venture Partners, discusses the firm’s investment thesis which is very well defined and focused.
Sramana Mitra: When they started Observe.ai and when you wrote your first check, they did not have yet a product? Alok Nandan: They were building something else when they met us. Over the course of the next six months, they iterated and pivoted and eventually arrived at this idea. Initially, we wrote them a small
Sramana Mitra: FinTech is a segment where there aren’t a lot of humans in the loop. One of the great benefits that AI is delivering within FinTech is pre-approved loans within 30 seconds. Alok Nandan: You’re absolutely right. If it falls within a certain range, then it will automatically get approved. Humans may only get
Sramana Mitra: How do you define seed in your world view? I’m sure you’re watching this trend out there. The seed has fragmented. It’s pre-seed, seed, post-seed, pre-Series A, small Series A, large Series A. Where in that continuum have you positioned yourself? Alok Nandan: You’re absolutely right. There’s a lot of noise around what