Insights from Chetan Doshi of Vinner Ventures
In a recent lively discussion at the BonBillo Community, Chetan Doshi, Co-Founder and Principal at Vinner Ventures, shared his perspective on investing in early-stage startups. Let’s dive into the key takeaways from this engaging session.
What is Vinner Ventures all about?
Vinner Ventures, a micro VC firm focusing on pre-seed and seed-stage startups across South Asia and Southeast Asia. With over 12 years experience in private equity, real estate, and investment analytics, Chetan combines financial acumen with a genuine passion for nurturing early-stage startups. Under his leadership, Vinner Ventures provides a unique investment structure, allowing smaller ticket investors to benefit from a diversified startup portfolio across sectors.
What’s the minimum check size for Limited Partners (LPs) coming into the fund?
For those looking to become Limited Partners (LPs), Vinner Ventures sets a minimum investment of $25,000. This is structured in a tiered approach, with 50% upfront and the remainder in two 25% installments.
What is the minimum check size for startup investments?
Chetan shared that Vinner Ventures typically invests between $25,000 to $50,000 with initial checks in startups. If a startup progresses well, they are open to doubling down with follow-on funding to support further growth.
What are the top criteria when evaluating early-stage startups?
When asked about the top factors for evaluating startups, Chetan emphasized the importance of the founder, stating, "30% of my decision is driven by the founder." He looks for passionate founders who are deeply engaged with their products and open to feedback. The next crucial factor is the problem being solved - whether it’s a real problem with a viable market. Finally, operational efficiency and compliance are considered to ensure the startup can scale effectively.
What themes excite Vinner Ventures?
Chetan expressed excitement about consumer-focused products, particularly in South and Southeast Asia, where the population offers vast market potential. He is interested in AI, although he admits it’s a complex field requiring careful navigation. FinTech, especially in payments, is another area where Vinner Ventures sees considerable opportunity.
Can you share examples of recent investments?
A Consumer Product Company: This company focuses on products derived from the Seabuckthorn fruit, known for its health benefits. Chetan appreciates the omega-rich properties of this fruit, making it an appealing investment due to the growing demand for natural wellness products.
He is also happy to have co-invested in PriyoShop and Blitz alongside BonBillo Ventures Fund II.
How does Vinner Ventures navigate different sectors?
Chetan and his partner Ram stay informed by regularly meeting with their investment partners to discuss market trends and share insights. They leverage a network of subject matter experts and partners to keep their fingers on the pulse across various sectors. Their approach is not to be an expert in everything but to engage with knowledgeable people who can provide valuable perspectives.
How should founders attract investors?
Founders should focus on clear and concise communication, both in their pitch decks and verbal presentations. Chetan advises against overloading slides with information and recommends building a narrative that piques interest. Additionally, understanding the investor’s background and aligning on mutual goals can strengthen the pitch.
How does Vinner Ventures support founders post-investment?
Vinner Ventures maintains open communication channels with founders, offering support when needed. They hold quarterly meetings but are available for urgent discussions, helping startups navigate strategy changes and other challenges.
How do you balance raising from LPs and investing in startups?
Chetan acknowledges that raising funds from LPs and investing in startups are two different skills. With LPs, it’s about presenting opportunities transparently, emphasizing the inherent risks and potential rewards. When investing, the focus shifts to evaluating the startup’s potential and aligning it with the VC’s expertise and network.
Learn more about Vinner Ventures: