In this episode we discuss the Growth stage venture capital investing in India with Ashish Kumar from Fundamentum.
There is so much to unravel on this topic, mainly because, contrary to what one might think, there is a gap in the market. Growth stage investing is under-penetrated in India, with many early and late-stage funds but insufficient in the middle. There's still room for more growth-stage players.
In addition, in the background, India is a major destination for VC funding in the Asia-Pacific region and is witnessing increasing interest from both domestic and international investors. Factors like India’s geopolitical positioning, manufacturing expansion, and technological advancements contribute to this growth.
The perfect guest for this session was Ashish Kumar.
Ashish is Co-founder and General Partner (GP) of Fundamentum which raised USD 220+ million for its Fund II in 2022 to invest in Growth stage startups. He has over a couple of decades of experience with building and investing in companies and believes India will produce many globally relevant companies in various industries. Ashish has founded multiple companies over time that includes a global software technology, a travel technology.
Where to find Ashish Kumar:
• LinkedIn: https://www.linkedin.com/in/ashishk/
• Website: https://fundamentum.co.in/
Where to find Rohit Yadav:
Web: https://linktr.ee/rohityadav
LinkedIn: https://www.linkedin.com/in/rohityadav23/
Newsletter: All Things VC
In this episode, we cover:
Episode Intro (00:00)
Intro: Ashish Kumar (01:16)
Intro: Fundamentum (02:08)
What makes the Growth stage investing attractive in the Indian context? (03:10)
LPs investing in the Indian Growth stage ecosystem (06:33)
Evolution of the Indian Growth stage VC Fund Managers (13:47)
Challenges for VC Fund managers at the Growth stage investing (21:49)
Developments in the Growth stage startup fundraising (25:04)
Deal dynamics at Growth stage investing (27:45)
Startup sectoral discussion in growth investing context (33:07)
Exit opportunities (M&A and IPOs) for the growth stage companies (36:15)
Key KPIs to look for when investing in Growth stage startups (39:55)
Advice for startups at the Growth stage (44:29)
Book recommendation (47:01)
Referenced:
Book Outliers from Malcom Gladwell (https://www.amazon.com/Outliers-Story-Success-Malcolm-Gladwell/dp/0316017930)
