EP#63 Mark Kahn – Investing in startups building for the rural economy, identifying founders that scale and staying relevant as a venture investor

In this episode, Mark Kahn (Managing Partner, Omnivore), joins our host Digjay, to talk about his path leading up to Omnivore, Omnivore’s investment thesis and evolution of the agritech opportunity in India, how and why India stands out compared to other global agritech markets, attributes of founders that are able to scale & raise follow-on rounds, the case against investing in solo-founder led startups, staying relevant as a venture investor, importance of finding a wedge as a first time VC and more.

Founded in 2010, Omnivore invests in early-stage startups developing breakthrough technologies for agriculture, food, climate, and the rural economy. The firm recently announced the launch of its 3rd fund at $130mm. Omnivore was one of the first agri-focused VC funds from India, and has previously backed some stellar startups like DeHaat, Reshamandi, Stellapps, AgNext, Bijak, AGRIM, Eruvaka, Pixxel, and Animall among others.

Prior to Omnivore, Mark led Strategy & Business Development at Godrej Agrovet, one of India’s foremost diversified agribusiness companies and worked at Syngenta and PFM early in his career. An HBS alum, Mark is also the Co-Chairman of the Confederation of Indian Industry (CII) Task Force on Agri Startups and a member of the Governing Council of the Maharashtra State Innovation Society. You can connect with Mark here on Linkedin / Twitter.

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Show notes –

1. (01:15) Mark’s background & path leading up to Omnivore
2. (04:08) Omnivore’s investment thesis
3. (11:27) Evolution of the agritech opportunity in India
4. (13:31) Why India stands out compared to other global agritech markets?
5. (19:21) Portcos that are building the foundation for the agritech ecosystem in India
6. (24:36) Attributes of founders that are able to scale & raise follow-on rounds
7. (26:41) The case against investing in solo-founder startups
8. (30:39) Approach to deal flow and follow-on investments
9. (32:56) Staying relevant as a venture investor across multiple cycles
10. (35:52) Importance of finding a wedge as a first time VC
11. (38:41) How has being a VC influenced Mark’s personality over the years?
12. (39:18) Rapid fire and closing remarks

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