The Ledger
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Founders cannot build a viable SaaS business selling only to India
“See in India, unfortunately you can't really build a SaaS business out of India, you know, and it is just our, you know, the Indian, the way Indian enterprises or the small businesses think I don't think they're ready yet to really embrace SaaS in a big way.”
Ghorpade: All 25+ Exfinity Portfolio Companies Focus on Indo-US Corridor
“All of them because enterprise tech by nature, and we always say that we work in the Indo-US corridor because companies can actually test their products in India. They can actually achieve scale in India. They can maybe learn from Indian corporations. They can…”
Ghorpade: Exfinity was likely India's first dedicated B2B enterprise tech fund
“I think Xfinity was probably the first, you know, true blue focused B to B tech fund, you know, so there were many, many funds, which did B to B investments or enterprise tech investments, but it formed a small portion of their overall corpus. The focus was la…”
Ghorpade admits Exfinity does not add much value beyond $10M ARR
“Beyond ten million is not something that we add a lot of value to be very candid. Yes, we can provide some inputs on strategy, et cetera, because we know the company, but I think I would imagine that after that we have seen growth funds providing a lot of valu…”
Global expansion is the biggest bottleneck between $1M and $10M ARR
“So it is a completely different mindset that is needed when you actually globalize. And that is in my view, the single biggest challenge that companies face between one to 10.”
Exfinity raises 500 crore INR third fund with late 2020 close
“And now we are on a third fund where which we are raising you know, amounting to 500 crores. We've done a first close already, and we are looking at a second close by end of December.”
Ghorpade details Exfinity Fund 1 and Fund 2 performance and sizing
“So first fund was 125 crores. We funded nine companies out of it. And we wrote down two of them. We have we launched a second fund, which in, in 2016, this was a 300 crore fund. Where we funded about 19 companies.”
Exfinity backed Mad Street Den for its pragmatic enterprise AI vision
“One is that we actually both Ashwini and Anand have been really stellar founders. I think what we liked about them is the fact that how they were looking at the application of AI, you know, so AI per se, a lot of funds do it. And every second company that you …”
Exfinity to target 20-22 companies, shifting to Pre-Series A and Series A in Fund 3
“And in the third fund, we anticipate creating a portfolio of about 20 to 22 companies. In the previous funds, you know, because of the fund size and all, we actually also did seed seed plus investments. In the third fund, given that the corpus is a little larg…”
Exfinity chose enterprise tech over B2C due to founding partners' expertise
“20 13 was a time when, you know, we were just discussing with Mohandas Pai and Bala, both, you know, ex CFOs and members of the board at Infosys. And we said that, look, we should really look at the VC space. And we said, we didn't know, you know, we thought t…”
Exfinity has four portfolio companies above $10M ARR
“I think now on the growth stage, if you, if I were to take your you know, sort of benchmarks, whatever you said, I think we have about now four companies, about ten million ARR. And between one to 10, I think we'll have a bunch of them. Actually our maximum po…”