Sramana Mitra: Before we get into that, let’s get the fund specifics. How big is your fund? What is your preferred investment criteria. Bill Bice: We’re an early-stage fund. My partner was the first VC in the state of New Mexico. He really took a different approach in building the firm. He brought together a
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Bill Bice was recorded in April 2019. Bill Bice, Partner at Verge Fund, discusses New Mexico’s startup ecosystem and his fund’s activities in that region. Sramana Mitra: Let’s start by getting acquainted
Sramana Mitra: Coming back to the more mundane topic of enterprise technology which is what everybody wants to invest in; by and large, in the venture world, what is your analysis? What kind of stuff do you see as interesting and exciting? Hemant Mohapatra: Coming into India, I don’t know how deep the enterprise is.
Sramana Mitra: What is your current analysis of the big problems in India? In the same vein that your colleagues went and sought out the Oyo team or founder, what are some problems out there that you are looking for solutions to or teams that are solving these problems? Hemant Mohapatra: There are three things
Hemant Mohapatra: We invested $60,000 in Oyo and then worked with the founder and built up a relationship. I saw them through multiple fundraising. They have raised more than a billion dollars now from the likes of SoftBank. We have stayed together with the founder on not just capturing India’s opportunity but also expanding into
Sramana Mitra: So, it’s a $175 million fund. What stage? Is there a comfort zone in terms of investing? Hemant Mohapatra: We come in early. We love series A and seed. Those are the two stages that are the most common. Last year, half of our investments were seed. Our check sizes range from $1
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Hemant Mohapatra was recorded in March 2019. Hemant Mohapatra, Partner at Lightspeed Venture Partners, India, talks about some of the large, open opportunities in the Indian market that are of interest to
Sramana Mitra: The immediate one is that all the carriers who are dealing with the last mile customers. If there is a real problem, they have still to send technicians in and that’s a very cumbersome model. We are all at the receiving end of that. It’s very frustrating. If something goes wrong, it’s very