Sramana Mitra: Talk about the companies themselves. Rajeev Singh-Morales: Let me start with one that was just sold about two months ago. Returnly is a firm that we invested in five years ago. It was sold to Affirm for $300 million. It was founded in 2014 by an immigrant from Spain. We invested in 2015
Rajeev Singh-Morales, Founder and Managing Partner at Alma Mundi Ventures, discusses the Europe – US bridge for tech startups. Sramana Mitra: Your name is so interesting. It seems like there is a whole story in your name and your firm’s name. Do you want to start with a little bit of background?
Sramana Mitra: There is one question that I want to ask you today. In the deal flow that you are seeing and your analysis of the market, what are some open problems that you have identified where you are looking for deep tech teams to solve those problems? Are there any that you are looking to
Sramana Mitra: In the scenarios where are you doing deep tech and you need to bring in a CEO to manage a tech-savvy team going after an interesting market opportunity, what nuggets or lessons from the trenches can you offer as guidance to our audience? Karthee Madasamy: It’s a hard question. I sympathize with you.
Sramana Mitra: We have been doing 1Mby1M for over a decade and with our experience, technical founders can be taught the business side. I would say that the biggest achievement of 1Mby1M is teaching technical founders this accelerated mini-MBA that gives them all the pieces that they need to put things into perspective at least
Sramana Mitra: Let’s double-click down on deep tech and seed investing in 2021. What check sizes are you writing and what does a team need to have in place for you to be willing to write that first check? Karthee Madasamy: We invest between Seed and Series A. A lot of our stuff is with Series
Sramana Mitra: Your portfolio is almost entirely enterprise-focused companies, right? You do B2B enterprise businesses? Karthee Madasamy: That is correct. Sramana Mitra: Let me underscore what you are saying. When we started getting into this COVID mode of doing business, the buyers were not used to buying technology just based on a Zoom meeting. This
Karthee Madasamy is the Founder and Managing Partner at Mobile Foundation Ventures. We discuss the nuances of Deep Tech investing. Sramana Mitra: Karthee has been here before. We are going to catch up and level set on how COVID has been and how the ecosystem around us is evolving. Welcome back. It’s great to see