Ishaan Mittal describes the core product innovations that led Sequoia Capital India to invest in Razorpay.
Prediction Not checkable as stated
Indian niche neobanks will build enduring, very large businesses over decades
“I think many of these companies will choose their niches, their group of customers, and cater to their needs much better than banks, and create very valuable companies not just in the next three to five years but companies that will endure and become very larg…”
Insight
Mittal: Venture capitalists are wrong more often than right
“In our business, we are more often wrong than right, and it is extremely important to keep an open mind, and be willing to change your mind when counter data and facts present itself.”
Assertion Not checkable as stated
Sequoia's best investments are driven by individual conviction rather than firm consensus
“While we have seen in the past that some of the best investments Sequoia has made have been driven by Conviction of few than, ah, consensus of everyone.”
Assertion Not checkable as stated
Ten times more Indian startups have achieved scale in 2020 versus 2015
“The number of companies that have scaled today is probably 10 times more than what it was five years ago.”
Disclosure
Mittal: Sequoia India holds 10+ companies across each core sector
“As Sequoia Capital India, we invest across a variety of sectors, including consumer, financial services, FinTech, payments, education, enterprise software, and healthcare. And we would have more than 10 companies across each of these spaces.”
Disclosure
Mittal: Sequoia India tracks early founders until product-market fit justifies growth capital
“Product market fit is what is most important for us as growth stage investor, investors. But what we like to do is that we don't want to wait for, ah, for this moment to come. We would like to be in touch with the founders and companies at a very early stage, …”