Sramana Mitra: There are a couple of questions that come into my mind as I am listening to you. First in the battery company, how did you do technology validation in making this investment? What did the company come to you with? What was the decision to assume that this team can build this technology?
Rajeev Madhavan: You have IoT devices like headphones where you do not need to replace the batteries. First, it untethers the device from all the electrical connections that you need. Second, it gives you the ability and the freedom of not being tied to a bunch of battery replacements that you have to go through.
If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page. Rajeev Madhavan is Founder and General Partner at Clear Ventures, a firm focused on seed-stage deep tech investing. Sramana Mitra: We are going to start today’s session with a conversation with Rajeeev Madhavan, the founder and general partner of Clear Ventures. I have known
Rajeev Madhavan is Founder and General Partner at Clear Ventures, a firm focused on seed-stage deep tech investing.
Sramana Mitra: That point that you made about seed capital being abundant and seed funding being abundant, and Series A becoming an issue is huge. The numbers are 50,000 to 70,000 seed financing a year, and Series A is only about 1,500. There is a huge drop off that is happening. We don’t really have
Sramana Mitra: Reversing the question now, if you look at 2017, what have you seen? What trends have you seen in your deal flow? How many companies do you see in a year for example and how many do you invest in? What has been the 2017 deal flow nuggets of trends? Rajeev Madhavan: In
Sramana Mitra: What is your perspective on enterprise companies? In a lot of sectors, the mid-market is underserved and enterprise is over-served. Rajeev Madhavan: One of the mid-market companies we’re serving in that space is a company called Reflektion. Most of the retail vendors are mid-market. They’re now scaling to the higher end but they
Sramana Mitra: An aspect of running a company that’s not pleasurable at all. Coming back to Clear Ventures journey, let’s double-click down a little bit on what stage are you looking for. When you say you are willing to put in very early stage, what are you looking for in terms of validation? Are you