Ashish Fafaria
Partner, Blume Ventures. On 1 show, 1 appearance. The Shows tab opens the full record on each.
1shows
1appearances
22statements
6resolved
3supported
2contradicted
50%fully supported
Everything Ashish Fafaria said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Fafadia predicts physical cash will completely fall out of circulation soon
“So in a few years from now, I do imagine and dare to say that cash will be out of circulation.”
Fafaria: Blume's Fund II is tracking toward an 8X to 10X return
“So when I say dragons, I mean each of these four unicorns are dragons also. So if sold at that point in time, they return the full fund. So what you're talking about in terms of eight X and 10 X funds, fund two looked like that kind of a promise. And even toda…”
Fafadia: Venture capital is the highest level of intellectual sales
“You are in a job which is the highest level of intellectual sales.”
Fafaria: Dollar-denominated capital would have halved Blume's early fund returns
“And today when we talk about the dollar rate, we are in the eighties. Right. So, it's, Almost doubled. That means if we, thankfully we were not having dollar capital, but if we had dollar capital, our returns would have halved.”
Fafaria: Converting an institutional LP requires seven hours of engagement over years
“Unless the GPs have engaged with an LP for seven hours. This is hard to convert because you need that kind of a time and depth to understand the whole thing very well. And it's not that you do a morning, evening, seven hour thing. The seven hours has to come s…”
Fafadia: GreyOrange returned an entire fund without being valued as a unicorn
“So gray orange is a dragon. That's the difference. It is not a unicorn, but it returns a full fund.”
Fafadia: Trillion-dollar TAM pitches are meaningless without addressable profit pools
“When somebody's pitching a market size on real estate, you talk about trillion dollar market size. That's a BS. One has to look at the profit pool.”
Fafaria: No ground-up India-centric VCs were capitalized from India by 2010-2011
“Fast forward, 2010, 11, when we were still not having original grounds up India centric funds, we did have a little more effort from the eight, 10 that I mentioned, fingers of two hand analogy. We had a few more where from abroad or US or China, they would hav…”
Fafadia: Carbon Clean Returned Blume Ventures' Entire First Fund
“Even today when we look at our fund one, we have one company that is one time the whole fund. It's a dragon outcome. Okay. So this is carbon clean. And it has done incredibly well.”
Fafaria: SIDBI is effectively India's equivalent to a sovereign wealth fund
“SIDBI is as close as it can come to. So that's effectively our sovereign wealth fund.”
Fafaria: Blume plans to cap Fund V at $250M-$300M
“Fund four is two 90, fund five need not be five hundred million. You will go with the two 50 to three hundred million dollar story at that point in time, maybe as well.”
Fafadia: Exotel operated for nine years on just over ₹2 crore
“And then there's Exotel. It's a story which has been told many a times over by just a couple of crores of capital, literally little, little above two crores, and riding it for nine years, and paying advance tax, which is more than the funds that you use.”
Fafaria: The core job of VC is making exceptions to your rules
“The other thing that I do try and remember, remind myself, and we do discuss during our leadership meetings and ICs is, ours is a job to make exceptions. You first make the rules, and then you make exceptions.”
Fafaria: VC nimbleness is evolving thought to rationalize exceptions, not fast checks
“The nimbleness until the froth was there in 2021 was defined by how fast you can cut the check and land the money in my bank. I think nimbleness comes in the way we are able to evolve the thoughts and come to rationalizing an exception that you want to make be…”
Fafadia: Relying on outside investors not on your cap table is disastrous
“Leaving it to a fate of an investor means you can you create a bridge around which is enough for this cap table to support you? That is okay. But it is a disaster to leave the fate to an investor who is not on the cap table.”
Fafadia: Entering VC with less than a 15-20 year horizon is wrong
“If you're looking at anything which is less than 15, 20 years, it's a wrong foot forward.”
Fafadia: Founder friendliness means honest partnership, not conceding to every request
“Founder friendliness of Bloom does not mean that We are exceeding to the founders request all the time. It's about a partnership and the founder respects our feedback, even though it might not be what he wants to hear. And the friendliness is about the best in…”
Fafaria: Indian tech IPOs were hitting public markets at 65 to 100 crore rupees
“Do remember, back through that decade also, there were two-digit IPOs hitting the markets, where people would IPO at 65 crores and 85 crores and a hundred crores, and it would still be big enough. That is how small and It's nascent. The Indian capital markets …”
Fafaria: Blume Fund II was 85-90% institutional and two-thirds international
“Two third came outside of India. One third came from India. And that is one way to divide this. The other side of the two by two is how much was institutional and how much was retail. So for us out of the sixty million dollars, almost. 85, 90% was institutiona…”
Fafaria: Blume achieved 15% DPI on Fund I before raising Fund II
“We had a 15% DPI. We got to that point where some small exits had happened.”
Fafaria: Six institutions provided $82 million of Blume Fund III
“Here, in fund three, six investors constituted eighty-two million dollars of the capital. So, in fund two, you had sixty million dollars. In fund three, you had six institutions pretty much rounding off to eighty-two million.”
One line per show, most statements first. The link opens Ashish's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 NEON SHOWLEDGER | Partner, Blume Ventures | 1 | 22 | 50% 3/6 | full record on the Neon Show → |