Ask a Mentor : Parag answers questions from two students of FMS, Delhi University



t_parag

December 29, 2013:

How do you enter a sector with huge potential but you have absolutely no technical knowledge about?

Ankur Jhunjhunwala, FMS, Delhi University

The Internet has made the world a small(er) place. Figuring out an expert, within six (or lesser) degrees of separation, is not very hard on (say) LinkedIn. Also, so much stuff is available on a Wikipedia (just for e.g.) that one can start-off an intelligent conversation with an expert based on reading Wikipedia/blogs etc.

That said most of us VCs stick to specific areas. Technology (Internet, mobile, software and services) for Inventus.

How to get funding from venture capitalists or angel investors in this hard time? How difficult is it?

Anurag Bhasne, FMS, Delhi University

VCs and angels invest with the long-term (5-7 years) in mind. Given the nature of business cycles, a good VC/angel should not be impacted by short-term GDP/CAD trends. That said all of us are human.

In the best of times, fund-raising is a probabilistic activity. Be prepared to knock more doors (listen to more “Nos”) in tough times. Always know, though, that it is the business of VCs/angels to invest across cycles – a good team with passion for a great idea will eventually find a “beautiful” beholder.

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