Sramana Mitra: You said many times that the ecosystem is still immature. Can you underscore the points where you see the Indian ecosystem needing maturity? Dr. Aniruddha Malpani: Sometimes, it’s the unrealistic expectation on the part of entrepreneurs partly because they don’t understand the grind that startups need to go through. A lot of the
Sramana Mitra: It’s wonderful to exchange notes. There are a couple of things you’ve said that I want to underscore. One is the importance of failure. The Indian ecosystem didn’t accept failures for a long time. It’s a cultural change where it’s okay to fail. You’re not penalized. A very long time ago when I
Sramana Mitra: Let’s take those two sectors – SaaS and the fintech sectors. In SaaS, the metric is MRR. Do you have a particular metric that you measure by when you’re doing your SaaS investments? Dr. Aniruddha Malpani: No, numbers can be easily gamed, and they are often not necessarily representative. As long as the
Sramana Mitra: One of the observations I have about the global startup ecosystem is this position of looking for paying customers is not at all unusual. I would say the vast majority of investors are looking for paying customers at this point. It has become so much easier to bootstrap companies. There’s a lot of
Dr. Aniruddha Malpani, Founder of Malpani Ventures, is an active angel investor in Indian startups for the past decade. Wonderful conversation. Sramana Mitra: Let’s catch up a bit on what has been going on in our collective universe and how you see the world based on all these years of observing the ecosystem. How do
Dr. Aniruddha Malpani, Founder of Malpani Ventures, is an active angel investor in Indian startups for the past decade. Wonderful conversation.
Sramana Mitra: How do you parse the unicorn mania that’s going on in the industry now? If you do get a hot company that goes through multiple rounds of financing, you could get buried under later-stage liquidation preferences. How do you protect yourself and how do you think about this scenario? Aniruddha Malpani: We’ve not
Sramana Mitra: What trends are you seeing in the entrepreneurs who are coming to you for funding? What kinds of entrepreneurs are coming? What resonates with you? Aniruddha Malpani: As I said, the social impact piece resonates with me because I actually think these companies will be far more profitable, partly because of the financial