 Well Angel investment refers to process in which individuals often refer to as Angel investors or Angel funders provide capital to early stage start ups or entrepreneurs in exchange for ownership equity or convertible debt in the company now these investors are typically جانش ایک بناتورٹ اور سبوتنیوں اور GORDON دوستی کم سرز ، بیزنس صورت اپنے اپنے بسٹر Throw انجل بہت برنٹ اپنے اپنے اپنے اپنے بہت برنٹ کے ساتھ کبھول کبھی skills عمری علاوہ اپنے ساتھ اپنے مقامات کو ساقی تک طرح بریزنوں کو تک عدیتی کرنے کے لئے ایک کامپنی کی نظر دورتا ہے۔ کھر اپنے ایک بہت ساتھ جو اپنے لندنی کے لئے کسی کسی ساتھ طرح بھی مقامات کو بڑھنے کے لئے ساتھ کتا ہے۔ these investments can provide start ups with the necessary capital to develop their product, build a team and established a foot hold in the market in return for their investment angel investors receive stake in the company میں امید بھییت completing the form of a common stock preferred stock or convertible debt دپنٹنگ on the ڈپنٹنگ on the terms of the investment. now the goal for angel investor is to eventually see a return on their investment when the کامپنی جانتی ہے تقید پر ایک اقتصاد ہوتا ہے۔ سب انج hinادی امام کے سے کہتے ہیں بہت بیٹرہ کے لئے یہ gonna ایک ٹمر ایک انشانی مجھے پابلگ افرaterم ایپیو بے سمجھنے قرار خود ہوتا ہے۔ Today in our podcast series talks that matter, we have with us one of the brightest and youngest angel investors Tej Kapoor. Yes Tej has over 15 years of experience in the VC industry. Tej has invested in several businesses as I understand in the e-commerce, logistics, content media, internet and b2b information industries. His work experience spans various geographies including the United States of America, China, India and the United Kingdom. کارنٹلی he is the managing partner at Ivy Cap Ventures while previously he was global partner at Fosun and he was head of Fosun RC capital of India and Southeast Asia. He has managed several portfolio companies and investment teams in multiple geographies which I just mentioned and Tej has made 40 plus angel investments in a personal capacity. He is always looking to invest in exciting early and growth stage technology companies. Yes so here we have Tej Kapoor for you. Welcome Tej to Mentor Talk Studios. Great to be here. Well Tej my first question has two parts. Firstly tell our viewers and listeners what attracted you to the idea of angel investing and what has been your investment experience like in India. Thank you. Great to be here and I think it's a very interesting question that you have asked. Just to give you the background like you rightly said I was leading the Fosun India and Southeast Asia investments and I was always being passionate about investing particularly in India. As you know we are one of the fastest growing economy in the world right now and I always had been investing in startups when it was not that well accepted I would say in India. So I was the first investors out of out of NASPRS into Flipkart which as you know has become a multi billion dollar company and then throughout my journey from 2010 to 20 I had been investing in India through various institutions and would have deployed about two billion dollars in India. Then came a time between Fosun and joining Ivy Cap that I had a spare year of a year and at that time I had and still now I do but at the personal level I was almost free for a year and thanks to Modi Ji because he banned the Chinese investments and you know you can't stop an investor from investing. So I said why not just make investments through my own personal money and that's where I started investing and thankfully I had access to some of the great founders and as a matter of fact even you won't believe but in one year I did about 45 angel investments because being in the industry and kind of out of industry you know I could do these and making angel investments is much easier as compared to investing through fund because you know you are playing with your own money and not anybody else's money so it has less friction and you know thankfully I was sitting at a point where I had access to some of the great people so I started investing on my personal capacity. تج how do you typically evaluate potential investments that's a fundamental question many of our viewers would be interested in knowing. Yeah so he went very very good question and I think as people in your audience might be looking for angel investing it is you know something some businesses that drive you you know every day we are millions of thoughts and you know we are always and you know we always wish oh I could do you know I could I could run an online car business or I could you know run a business where I could you know rent airplanes or you see a big opportunity and travel because they are a bunch of ideas we all have right and we don't have enough time in one life to implement those ideas or to run them ourselves so I think that's how I view angel investment if you are excited and passionate about certain things for example even ESG or climate change you know or traffic in India I think you could pick your themes and there will be somebody who is doing a business in that direction you know so one I don't view angel investing as just purely money making opportunity I think it's also driven through your passion. I mean you are in legal profession and they are a bunch of startups you know which are trying to solve the legal issues through tech way. So I think that alignment has to be very important and then if you know I mean for me it is important that I invest behind people and founders I can trust in and you know also go after markets which are deep enough because I like solving you know problems which are much deeper and the market size is much bigger. So I look at two things very very carefully number A is the founder quality and pedigree you know where is he coming from what has he done in the past. The thing he is trying to do does that resonate with what he has done in the past and second I look at deep markets you know are the markets deep enough. Where this problem even if he takes one percent market share he can become a much much big company. So I think those are two fundamental things I look for the third one you know which I would say is that you know as you know India markets keep evolving you know the things will keep changing. Does the founder have tenacity and the will to keep going that is very important because India is not an easy place to do business as you know. So you have to have that vision of 10 to 15 years. I don't typically like founders who are just there to flip you know I'll make quick money I mean that's not what I like. I like founders who are thinking this is my life and I'm going to do this for you know till I die and create a very large institution. So those are some very you know big sort of key themes I can give. What value do you bring to the startups you invest in other than the actual investment because you come from a highly accomplished professional background. Oh yeah that's a that's a very good question and I think I think founders who are seeking money are also pretty smart people. So they are also looking to take money from people not only for you know like even in funds this is apply right. They are not only looking for people who can just give money but also what do they bring to the table right. And our endeavor as investors is always being that what extra value are you going to add other than just money right. Because a founder could choose many many places to find money from. So that includes you know it's very lonely at the top as they say you know and especially in the early stages of the company. You know it is important to get somebody on your cap table who has you know done it in the past. For example there is a company which is building a SaaS solution for restaurants. And you know I got him investment to the you know Asia head of Starbucks right. So you know because that can open a lot of doors for him. Similarly there was a friend of mine who was building company in AI for legal tech right in the. So I got him connected to a lot of folks in the US also at that point a founder needs advice. You know at an angel level to connect with you know some of the very good investors to raising series A series B. Or even their seed rounds. So somebody who can who have access to you know these funds and actually can guide them you know because you know every fund has a different philosophy. So you know who is the person they can go to for their particular business that cuts short your cycle to fundraise. And also your intellect you know like you know for thankfully for me I've seen companies from incubation to exit and even IPO. So during the course you obviously build a lot of relationships. And as a young founder or somebody who is starting out they seek out for people who can open doors for them. You know to get to different stages a different level including you know some of the folks who have done similar businesses outside Indian geography so they can learn from. So I think this is these are some of the very big value ads. You know trying to get industry experts trying to get people who have done similar businesses trying to guide them to raise money trying to help them to navigate through. You know wages operational problems they might be having. So all of these things are super value add more than money that one can bring to table that are in your investment stage. What is your expected timeline for returns on your investment. And tell us how do you handle the risks and failures with regard to your investment portfolio. Yeah yeah yeah great great great question Haiman actually I don't think you should do angel investing if you don't have a big heart because you know a lot of startups as you know died right. And if you are if you are going to take stress about you know ensuring that every one of them succeed then you know you are not in the right game right. Because you know statistically speaking you know almost 70% would die but the ones that will make it actually will give you massive returns. Why you know I do you know I do invest with the philosophy that all of them should survive but you know it doesn't happen in reality right. And I would never recommend that you do angel investing in one company. Therefore you should do an investment in you know if you don't have the site of doing investments of at least 15 to 20 companies then you should not do it because you know then your success or failure ratio is 100%. You know if you are doing one to three or four companies because it's a book a approach. And I think the returns it really depends every every person has different appetite. I am more of a of a Warren Buffet believer I am a hoarder. So I like to keep hoarding and not sell my equity till I really have to you know as long as other companies are growing actually I like to liquidate from the company which are not performing that well. So that's the approach I take there's companies that are doing well I actually keep on you know holding the stake. I think a good horizon for an angel investor if he's coming at a very very early level at an angel level then maybe you know it's good to have and some exits in series A or series B as well. But CDC for sure I think you should look to exit a founder is a good good guide for you to tell you that you know what is the appropriate moment because some of the funds. Also don't like that angel investor investors are sticking around for too long but my general philosophy is I am a hoarder so I keep holding till I really have to exit. And in terms of you know risk reward like I mentioned you have to play this as you know asset approach where you have at least 15 to 20 investments and also be ready to you know keep in your mind that 50% might not work. So that's the math you can you can take in your in your mind as you're in. But I can I can assure you the market that we are sitting in the growth India has the tech moment that we have. I feel that you know as an angel investor if you if you if you invest right and you also you know ensure that you know you're helping and guiding them. The success ratio will be will be really good. Just as an example I know without naming the company some people who have who have put just a minimum check of five lakhs and have walked away with you know five to six crores in about five to six years. So I don't see that kind of return coming from anywhere else or any other asset class as startups could give you. Thank you so much for joining me in this in this conversation. It was brief yet very informative. I'm sure we'll have another session elaborate session on the same topic. Thank you so much. Sounds good. Sounds good. Look forward to that and thank you so much. Well angel investors often play a crucial role beyond just providing financial support. They may offer valuable business advice mentorship industry connections and strategic guidance to the startup as they've mentioned. And also guidance to the founders of the startup leveraging their own experience and expertise to increase the chances of companies success. Thank you so much all of you for watching this series. I will see you again next week by in large same time. Goodbye until then. Thank you so much.