Sramana Mitra: Very interesting. All right, so now I’m gonna switch back to the more usual way I do the AI investment thesis discussion, which is to ask you about your firm’s perspective about AI investments and how are you thinking about it? What is your investment thesis in AI?
Sramana Mitra: So could you double click on your AI algorithm of finding companies and give us a case study of a company that you found with that algorithm? What were the heuristics of how you found this and what were you looking for? How did the algorithm find what you were looking for? How
Sailesh Ramakrishnan, Managing Partner at Rocketship.vc, discusses his AI investment thesis and shares his firm’s use of AI in monitoring investment-worthy startups.
Sailesh Ramakrishnan, Managing Partner at Rocketship.vc, discusses his AI investment thesis and shares his firm’s use of AI in monitoring investment-worthy startups.
Sramana Mitra: Let’s do one example from your rocketship portfolio that illustrates more of what you’re doing today. Anand Rajaraman: I’ll give you an example from India. We are an investor in Moglix. It’s a company based in Delhi. They are in the B2B e-commerce space.
Sramana Mitra: Did Facebook come to you or did you go to them? Anand Rajaraman: A bit of both. At that point, they already had Peter Thiel’s money. He was the only investor at that time. They had just launched at Harvard and Stanford. Within those universities, we could see the growth. At that time,
Sramana Mitra: What is the preferred check size for your fund? Anand Rajaraman: We write about $2 million to $3 million checks, which means that we could co-lead in the US. In foreign geographies, we might even be the lead. In a B round, we follow.
Sramana Mitra: What is the fund size of rocketship.vc? Anand Rajaraman: We are on fund two. It’s $120 million. Fund one was a $40 million fund. That’s fully deployed. We started investing fund one around late 2015. We have about 30 odd companies in the portfolio. We’ve just started deploying fund two.