The Ledger
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Kapoor: India has leapfrogged China in payments infrastructure through UPI
“Actually, we have leapfrogged China in one area that's in UPI because we were able to get all the 21 banks together to work with each other and make all payments, you know, almost frictionless and also the cheapest way possible.”
Kapoor: Delhivery's closest competitor will be half to one-fourth its size
“Where they have become one of the, you know, unicorn in logistics space, and is growing phenomenally, and I think the next the next company which would compete with delivery will be at least half or one fourth of their size.”
Kapoor: Fosun RZ Capital avoids investing in single-founder startups
“We don't typically invest in a one founder one founder, you know, company, because I think it takes a lot of effort to build the company.”
Kapoor: Indian tech follows Chinese business models more than US models
“India is is following I think more closely the Chinese market than the US market, you know in terms of business models for sure.”
Kapoor: Africa's tech ecosystem is roughly 15 years behind India
“Africa is probably 15 years behind us, you know.”
Kapoor: India can produce 10 to 15 billion-dollar fintech companies
“So I think there can be at least 10 to fifteen billion dollar companies in India in the payment, in the fintech space in different, you know, categories”
Kapoor: Fosun RZ skips Series D and E rounds in India
“One is seed investments, which are which are minimum check size of 500 K to a million dollars. And then we do Series B onwards, which is about, you know, close to five million to ten million dollars. And then we do large ticket transactions. So we don't typica…”
Kapoor: India's e-commerce market is $24B-$30B vs. Pinduoduo's $64B GMV
“If you look at the size of e-commerce is only 24 to thirty billion in India. And if you look at just one company in China, ah, called PDD, it does sixty four billion of GMV.”
Kapoor: Storytelling only works through Series B before diligence takes over
“The storytelling is important in earlier, you know, when you're doing C, A, even B, but post that, you know, people start, especially the private equity firms, when they come in they start looking at numbers much, much deeper. They do far, far more diligence a…”
Kapoor: Ixigo has reached 30M MAUs with near-zero marketing burn
“They are doing about thirty million And we use and three million D use with a marketing burn, which is next to nothing.”
Kapoor: Ixigo is operating at an almost $30M run rate
“And the answer is yes, they are now, you know, at a, almost thirty million dollar run rate.”
Kapoor: Fosun RZ manages 10 Indian startups, targeting 20 to 30
“In India over the last two and a half years to three years, we have built a portfolio of about 10 companies so far, and we look to further build this portfolio into 20 to 30 companies and in, in China, RZ has more than 60 companies that are invested in, in US …”
Kapoor: Delhivery continues to grow 40% to 50% year-on-year
“I mean, delivery is another example of a great company, which keeps growing, you know, 40, 50% year on year on large base.”