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Sasha Mirchandani

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Sasha Mirchandani

MD, Kae Capital

Mumbai

Sasha Mirchandani is a member of:

- Expert

Investment Strategy and Portfolio Companies

I have invested in about 35 startup companies. I like to invest in companies that have top tier entrepreneurs as Founders with large market opportunities.

Some of the companies in my portfolio are Inmobi, Myntra, Greendust, Fractal, Healthkart, Cloudbyte and Canvera. I invested in all these companies because I really found the Founders to have a big vision and a burning desire to achieve something great.

Attributes I Look for in an Entrepreneur

He should have a tunnel vision. The best entrepreneurs only focus on their own company. Additionally he should have the ability to think big. They should have a strategic bent of mind. They should be willing to hire people smarter than themselves.

Most Popular Types of Businesses in India at the Moment

Currently there are several sectors that are proving to be quite popular including education, healthcare, Payments and Big data.

My Criteria for Investing in Startups

I look at 5 things:

Team
Size of market
Exit
Key differentiator / unfair advantage
Capital efficiency

Common Mistakes Startups Make and How to Avoid Them

Startups make several mistakes in the early stages.

They hire the wrong people.
They don’t conserve cash judiciously.
Don’t pivot fast enough if the original idea is not working.
They are sometimes too optimistic on the acceptance of their product or service.
They misjudge the size of the market opportunity.

I think entrepreneurs need to spend a lot more time better understanding the market before they get going.

Thoughts on First Angel, Follow-on Investments and Offerings to an Angel Investor

Yes, I am happy to be the first angel but we have also successfully co invested in many deals.

Angels do not generally reserve money for follow-on investments. However at Kae Capital we certainly reserve money for follow-on investments. We can generally invest up to the B round.

A good way for an entrepreneur to check on what percentage of his company to offer an angel is for him to check on comparisons in the market for similar businesses.

You can offer an angel a board seat if they are looking to spend time and can add value.