Sramana Mitra: What trends do you see in your deal flow?
Rajeev Singh-Morales: We are a fund that is mostly B2B. We don’t a have an industry focus. There are certain areas in pharma and biotech which are extraordinarily hot right now. We don’t invest in that. We do invest in digital health. That is really quite interesting right now. Everything around telehealth and remote diagnostics and remote healthcare in the US and in Europe is gaining a lot of attention.
>>>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 in a convertible note. E-commerce is booming now. Most people buy stuff that they want to return.
>>>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?
>>>In case you missed it, you can listen to the recording of this roundtable here:
Geoff Ralston is President of Y Combinator. We had a terrific discussion on what we each are seeing in the startup ecosystem.
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Ben Narasin is Founder and General Partner at Tenacity Venture Capital, a new Seed fund.
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During this week’s roundtable, we had as our guest Geoff Ralston, President of Y Combinator. We had a terrific discussion on what we each are seeing in the ecosystem.
Re:Mind
As for our entrepreneur pitch, we had Bindu Thirupathi from Bengaluru, India, pitch Re:Mind, a wellness wearable.
CultureTalk
Then, 1Mby1M Premium members Theresa Agresta and Cynthia Forstmann pitched CultureTalk, a corporate culture solution.
You can listen to the recording of this roundtable here:
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 invest in?
Karthee Madasamy: We are more thematic than very tight thesis-driven. We look for large deep tech-related transformations in traditional industries like automotive, manufacturing, agriculture, and biology. We don’t try to figure out the exact market problem. We let the entrepreneurs bring that to us. They are the ones on the ground looking at the problem.
>>>