Propell.fund: Here's why and how.

Thanks to all our friends, we made this announcement of the Propell micro fund over the week. I wanted to write a short note on how this came up and how I plan to execute it. A short thread.?

https://www.cnbctv18.com/business/companies/letsventure-ceo-shanti-mohan-launches-new-vc-fund-propell-to-invest-rs-50-cr-in-early-stage-startups-

14205372.htm https://economictimes.indiatimes.com/tech/technology/letsventure-cofounder-launches-new-micro-investment-fund-propell/articleshow/93010840.cms

Let me tell you why and how. LetsVenture has a SEBI registered AIF. Over the last 4 years, we have seen the platform truly scale, after the legal frameworks around this got formalized. LetsVenture today at scale is a well-oiled engine. We do 25-30 deals every month, across 100 syndicates.

Though I have invested in startups while at LetsVenture, it has not been a concerted strategy.? What I love about building LetsVenture is the access to founders we get who are building amazing companies. The access to the best conversations and to the brightest minds.

My north star is to partner with group of founders whom I can work closely with, share my learnings & connects in ecosystem, and be part of their journey. I am firm believer that one should also put in capital as it is best endorsement one can make on commitment to founders.

Hence this fund. And investing is NOT a zero-sum game! It is about partnering with the best investors and the best founders – and collaborating to be part of something big.

Why should someone invest via a fund or a syndicate? What I have learnt over my years of building LetsVenture in investing:

1. You will never cover 100% of the market. There are deals happening every day (in private networks, on platforms, in dorm rooms, and in Corporates).
2. As an investor, you will get some right, you will get some wrong?
3. You will miss some deals which in hindsight look so obvious but while evaluating you would pass because the context was different.
4. Know why you invested. At the stage we invest, market size is just a number. Founder market fit and founder resilience are the most important factors. Many times we miss asking if this founder can really sustain the ordeals of entrepreneurship.
5. Respect the founder – know that as an investor you may not get his vision or his aspiration or inner drive. Decline respectfully.

Now to how we are investing: About Propell : Propell is an attempt to actively invest and take investors along who want to build? a portfolio of stellar founders. We did 15 deals already, and want to do maybe 20 more. Over the next 12-18 months.

Some stats on Propell:

1. 53% of investments made have experienced founders.??
2. 33% co-investors are global VCs, domestic VCs, and Angels (5 investments each)
3. We are fortunate to invest alongside the best co-investors: 3one4 Capital , Accel in India , Sequoia Capital , Tiger, ycombinator ycombinator , Waveform, BoldCap ), LC Nueva and others. For us collaboration is key!
4. Super fortunate that our deal flow is driven strongly by referrals. By co-investors who are participating or other founders.
5. Our sector focus is to invest in founders who are building for India.

Special mention to Tejas Panchal , who is the one who makes my ops behind Propell seem easy.

As a founder, if you want to discuss an idea, or need a connect, or need capital, write to us at [email protected]. If you are an investor who wants to participate, write to Tejas! We will surely respond if we can help.

Propell aligns with my north star of working with founders to contribute to an ecosystem I love being part of, and so wholeheartedly connect to. This decade belongs to the Indian founder and there is never a better time to be a founder or an investor!