Everything Abhishek Goyal said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Startup ecosystem should actively support Byju's despite widespread public negativity
“There is so much negativity around by Jews now, but I think that they are scaling well. We should work on what needs to be fixed, but I think we should sort of support them and make sure that they see the, you help them reach their peak potential.”
In late-stage investing, fundamentals follow capital, not the other way around
“Capital doesn't follow fundamentals. Fundamentals follow capital.”
Goyal: Raising at peak private valuations delays an IPO by five years
“Public market anyways give lower valuation than private market. And if the peak of private market, if you raise at the premium valuation, you can't do IPO for five years then.”
Strict VC ownership minimums cause funds to miss out on 100x winners
“And that is why I believe that if you have minimum ownership requirement, and hence you will lose out on a winner because of that, then you are, even at hundred million pre, there is an upside potential of hundred x now, which was, which didn't exist in 10 yea…”
Winning modern VC means backing rocket ships regardless of entry valuation
“So I think the new playbook, in my opinion, where the depth is going to be very crazily deep is just whenever you find a rocket ship, whatever it takes, you get into that boat or you get into that rocket ship and ride it through. And that is what will matter m…”
India will produce one hectocorn and five decacorns annually within ten years
“My, but my sense is that India will be producing in 10 years or less, India will be producing one hectocon a year and at least five decocons in a year.”
Indian SaaS startups will scale to $100M in revenue within three years
“And in US, I think there are companies which can grow from zero to hundred million revenue in three years. And I expect a lot of those companies to come out of India as well in coming times. So the speed will become very different than what it is today.”
Goyal: Indian market struggles to absorb IPO floats above $1B
“And as you grow larger, I think if your float is more than let's a billion dollar, it gets very hard for Indian market to absorb it in today's context.”
Goyal: Sweet spot for Indian IPOs is $200M to $500M valuation
“I think a sweet spot of entry in the market is between two to five hundred million dollar valuation. That is a sweet spot. Where an Indian market can attract a company.”
Goyal: Massive mega-venture funding rounds will return in 2024
“I think it's a 12 months slowdown. In my opinion, after 12 months in 24, you'll still see those crazy rounds happen.”
India's startup ecosystem remains capital-starved and needs 5x more funding
“India's a country, people still keep saying that there's too much money, but I think we are still very, very capital starved. We'd require, like, at least five X more money than what it and then we will, it will take the startup ecosystem in India to a much di…”
Global enterprise software opportunity is 100x the Indian domestic consumer market
“So in my opinion, global enterprise software opportunity will, is like, hundred x of domestic consumer markets.”
Goyal: Tracxn Achieved IPO Internal Readiness in 2-3 Months Instead of 12-18
“A lot of people advise us that, look, it's a three year process... And a lot of people said that first 12 to 18 months will just be internal readiness. So in our case, when we started working, we realized that within two to three months, that internal readines…”
Amazon's Jeff Bezos faced aggressive tech ecosystem ridicule for launching EC2
“And in 2006, Amazon was at a point where I think EC two was launched for the first time and how it was very interesting to see how Jeff Bezos was ridiculed so aggressively by everybody in the ecosystem.”
Flipkart was rejected by practically every Indian investor over nine months
“Practically they met every single investor in India for over a span of eight, nine months.”
Accel India initially invested 70 lakh INR for 10 percent of Flipkart
“And we ended up getting like first investment was 70 lakh for 10%.
And then we put in another money.
And so we, then the deal was to put another two crore for 10%.
And then we had another option of getting five percent at additional investment, but by then Tig…”
Accel India invested only $2.5M to $3M total into Flipkart
“We as a fund, we invested only I think two and a half, three million in that company.”
Abhishek Goyal was the sole angel investor in Delhivery's first round
“Sahil again was not raising angel round during delivery and I was the only person who invested.”
Successful founders present anti-signals that break conventional VC pattern matching
“Venture and angel investing is all about constantly unlearning these patterns that exist between different founders, because every successful founder has a lot of anti-signals that you would have seen so far.”
Goyal targets prospective startup investments with $500M to $2B in revenue potential
“Now that expectation has increased significantly. Now, like, I need to see at least a five hundred million dollar revenue, or my average expectation is like two billion dollar revenue companies.”
Mega-cap startups harbor widespread founder self-doubt, board doubt, and unhappy employees
“When you see success closely, you realize that how much self-doubt exists between founders, how much board members actually doubt success of these own companies, how much employees are sometimes unhappy.”
At least one-third of top Indian startups will be global enterprise software
“So my sense is that at least one-third of them will be global enterprise software companies, if not more.”
Active angel investing requires a ten-year cycle and at least 30 companies
“So in this market, you will have to look at least 10 years of cycle to be sort of be sure that if you should be a passive investor instead of being an active investor, or at least budget for investing in 30 companies, because that is how much diversity it will…”
Angel investing returns are dominated by winners; investors must not sell early
“Other very interesting thing about angel investing is that your winner will eventually, like, give most of the return, which basically means that you have to be very cognizant about not selling your winners.”