Prashant Pansare, co-founder of seed-stage fund Eagle10 Ventures, explains his criteria for evaluating founding teams and his reluctance to back solo founders.
“So there is no fixed number of founders that we look for, but definitely a single founder I have seen, it's a little bit of challenge predominantly because from my own entrepreneurship journey, I've learned that a founder always needs another shoulder to cry on. It's in the crisis that founder really needs somebody else. So my personal preference is to have at least two co-founders in the team or three or four is also perfectly all right.”
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More from Prashant Pansare
Insight
Syndicate seed rounds take at least six weeks to close
“The challenges, as I mentioned, the time taken to invest easily, it's not less than a month and a half where an individual angel investor would be able to take quicker bets.”
Indian first-round startup checks have grown from 2-3 Cr to $1M
“In India, the early checks have never been more than two or three CR, right? Past probably four, five years earlier, it was very difficult for an entrepreneur to raise maybe two, three CR as a first check. Now it's possible to even raise higher, a million doll…”
Early startup employees with short-term monetary goals quit quickly
“People who come with a short term goal of maybe making a short money or with a very limited vision of what you are trying to do, they usually fall apart faster and they don't contribute to you as meaningfully as you would expect.”
Passion without a broad market cannot build a sustainable startup
“Most of the entrepreneurs tend to start their journey with something that they're extremely passionate about, but it may not be a business worthy idea, right? The passion is something that you really love, but is the market large enough? Because if what you're…”
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