From idea to IPO and beyond.

What does it take to back a company for nearly two decades?
There are no written rules to navigate one of the most important relationships in a startup. One between a founder and an investor.

This episode is an inside look at how one of India’s longest founder-investor relationships was built and tested, between Yashish Dahiya (Policybazaar) and Sanjeev Bikhchandani (Info Edge).

In 2008, a ₹20 crore cheque was signed for 49 percent of the company, based solely on a powerpoint idea.
What followed were regulatory challenges, shifting business models, new investors on-board, and moments of disagreement. But through 17 years, six funding rounds, and an IPO, they stayed aligned.
These are two entrepreneurs who built their first ventures a decade apart; Sanjeev in 1997, Yashish in 2008 and have seen the Indian startup ecosystem evolve from the ground up.

If you are building or funding startups this conversation will resonate with you for its honesty and give takeaways for your own journey.

0:00 – Infoedge Ventures X Policybazaar
1:08 – Sanjeev’s first memories of Yashish before Policybazaar
5:33 – Pitching of the Policybazaar idea
11:08 – How Info Edge almost didn’t invest in Policybazaar
15:56 – What shaped Yashish as Founder & Sanjeev as Investor
25:14 – How the founder–investor bond evolved
27:08 – The Boardroom Dynamics at Policybazaar
31:08 – Moments of Disagreement: ₹840 Cr raised, ₹700 Cr still in the bank
34:38 – What makes an investor-founder relationship work?
46:02 – What We’ve Learned after 17 years of building together
49:03 – How India can build Long-term founder-investor bonds
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India’s talent has built the world’s tech—now it’s time to lead it.
This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.
What is Neon Fund?
We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.
Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.
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Website: https://neon.fund/
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Connect with Siddhartha on:
LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/
Twitter: https://x.com/siddharthaa7
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This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.

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Impact at the State Level | E. Michael Murphy, PharmD, Advisor State Government Affairs at APhA