Rajib Arjun

In PE, tough to create a value creation without a clear & compelling vision for the portfolio company. And no, the "Vision" ≠ the financial targets Fantastic discussion with Shiv Narayanan on the PE Value Creation Podcast! Thx for having me Shiv. #PrivateEquity #PE #ValueCreation #First100

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In India's startup ecosystem, equity is crucial for early-stage growth. However, as businesses grow and evolve from ideas into structured organizations, debt becomes increasingly significant. Part II of this debt series analyzes the role of debt as a complement to equity, exploring when and how to integrate debt into your capital mix, and the specific use cases [across working capital, runway extension, acquisition financing, and Asset liability mismatch] for which startups can effectively utilize debt. Part I of the series focussed on exploring debt's function in the capital mix of early-stage startups, the factors underlying its limited adoption, its significance within capital structures, and strategies for optimizing costs to attain an ideal capital structure for startups. In case you missed it, please have a read: https://lnkd.in/gnCrbw6T

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The abolition of #angeltax has opened many doors for #FDI, as well as domestic money. With the removal of difficult tax regulations, domestic and foreign #investors now have more freedom to support Indian #startups. As a result, more private, individual and family office money is expected to flow into the #startup ecosystem in the coming days. This will unleash Indian startups to conquer the world and will be a powerful factor in translating research into #commercialisation. I spoke to Shereen Bhan of Young Turks on various intricacies of budget and its impact on our ecosystem. Watch the full episode here: https://lnkd.in/gsDzuH8b

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While technology continues to captivate us, placing too much importance on technical superiority can be a pitfall for international companies entering the U.S. market. This is because emphasizing tech alone often sidelines the unique needs of each target segment. What works in New Delhi might not hit the mark in New York. Likewise, expectations in the EU differ from those in New England. Plugging in your technology without considering these differences can lead to failure. The key is balancing technology with a human touch. Engage with your customers, users, employees, funders, and competitors. For more practical advice on entering the U.S. market successfully, check out our full article: https://lnkd.in/d8Pp5aC7 #BusinessStrategy #USMarket #MarketEntry #Technology

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While technology continues to captivate us, placing too much importance on technical superiority can be a pitfall for international companies entering the U.S. market. This is because emphasizing tech alone often sidelines the unique needs of each target segment. What works in New Delhi might not hit the mark in New York. Likewise, expectations in the EU differ from those in New England. Plugging in your technology without considering these differences can lead to failure. The key is balancing technology with a human touch. Engage with your customers, users, employees, funders, and competitors. For more practical advice on entering the U.S. market successfully, check out our full article: https://lnkd.in/d8Pp5aC7 #BusinessStrategy #USMarket #MarketEntry #Technology

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Excited to share Marathon Venture Capital's investment in Eva Magnisali's DataForm Lab! Construction is large enough to be measured in GDP terms, yet remains a laggard in the adoption of automation. Our buildings are still constructed manually! Offsite manufacturing, i.e. assembling buildings in factories, provides the perfect canvas for putting automation to work – still, however, robots are nowhere to be seen... Eva studied architecture and robotics, and worked with design firms, developers and industry vendors, realising first hand what's keeping the industry stuck in the past. Then she got to work... Dataform Lab's software platform translates designs to production drawings and machine code, along with optimising processes and scheduling, essentially offering a modern operating system for construction factories. The company already works with some of the most prominent offsite manufacturers worldwide. Today it announces the completion of a GBP 1.1m Seed round led by Marathon. Eva and her team are on a mission to drive automation in offsite manufacturing. If you are excited about working at the intersection of technology and construction, get in touch! Building construction has been slow and expensive for far too long. Our next homes and schools may come from fully-automated factories, delivered at a fraction of today's time and cost. Keep an eye on Dataform Lab! https://lnkd.in/dVVfnudS

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Tech of today was at some point of time considered as DeepTech. This evolution happens gradually, powered by visionary innovators and supportive investors who pave the way forward. Today, India stands in a unique position—not only to drive groundbreaking innovation and attract top talent but to do so at a significantly lower cost than in other markets. At Aeravti Ventures, we are continuously inspired by the innovation potential of the Indian founders and are thrilled to be at the forefront of it. Below is the link of the The Economic Times article in collaboration with Ankit K. of Capital-A https://lnkd.in/gPhJ3pyk

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Looking forward to meeting women entrepreneurs who are on their journey to create some pathbreaking ideas and inspiring others to do the same. #advaitawomenentrepreneurs #womeninbusiness #entrepreneurship #womenentrepreneurs #EmpowerWomen #womenleaders #businesswomen

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its not just about VC/investor appetite for more mature start-ups where the risk is relatively less, its the turn now of VCs being treated the same by LPs. very likely to happen in India as well if not already happening. The infamous long tail in VC universe is very much going to be a reality.

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Super excited to welcome back Prof Aswath Damodaran for a second year on TRIUM Angels Ascend Program and R3i Venturers. 9 Key Takeouts from our workshop on #StartupValuation 1. Numbers Meet Storytelling: Every valuation starts with a narrative. You can't understand a company's value if you don't know the story behind it—whether it's a growth market, a disruptive force, or a brand with cultural cachet. Your company isn't just about products and financials; it's about where it's going and why. 2. Revenue Growth & Target Margins: Growth potential is sexy, but profitability is the goal. Investors care about the path to target margins. Can you scale without bleeding cash? Show them the road—profitable, and efficient. 3. The Corporate Lifecycle: Understand where the company is—startup, growth, maturity. Different phases need different strategies, different stories. Not every company is meant to be the next Nvidia, but every company needs to understand where it stands. 4. A Good Narrative: Keep it simple, make it compelling, and hook the audience. Nobody remembers buzzwords, but they do remember a powerful story about unmet needs and market gaps. Make it memorable, not just measurable. 5. The Runaway Story: Charismatic leadership, disrupting an unliked status quo, with a bonus benefit for society? That's a formula for a runaway narrative. People root for the underdog—and that includes the market, sometimes even irrationally. But be careful—don't let hype override rationality. 6. Check the Narrative Against Reality: A great story is compelling, but it’s even better when backed by numbers and common sense. Always pressure-test your narrative—does it hold up to market dynamics, macro factors, and historical precedent? 7. Link Story to Value: If it doesn’t impact cash flow or risk, it doesn’t impact value. Make sure every part of your story affects a key value driver—revenue, margins, reinvestment. The narrative must translate into financial outcomes. 8. Keep Feedback in the Loop: Defending your narrative without critique is a one-way ticket to poor decisions. Open yourself to opposing views—have the people who disagree with you the most challenge your assumptions. Hubris kills investors. 9. Be Ready to Adapt: Market conditions change, competition moves, your strengths may turn into weaknesses. Always be ready to adjust the narrative—because what works today may not work tomorrow. Huge thanks to Professor Aswath Damodaran sharing knowledge this #Deepavali on TRIUM Angels program. What does it take to be the most loved Corporate Finance Professor on the planet? A heart of #servantleadership, #passion, #humility, and a consistent commitment to  #accessibility, #disruption, and #excellence. The spirit of TRIUM Global Executive MBA and our fellow alumni at NYU Stern School of Business HEC Paris and The London School of Economics and Political Science (LSE) shines brightly this #deepavali.

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JEMHR.CO is a shining example of a company that embodies the principles of passion and purpose, much like the firms highlighted in "Firms of Endearment: How World-Class Companies Profit from Passion and Purpose" by Rajendra S. Sisodia, David B. Wolfe, and Jagdish N. Sheth. Here’s how JEMHR.CO aligns with these principles https://lnkd.in/dfqP5PkN

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I'm VERY excited about this. Having seen what Earthena's platform is capable of, I expect every C-suite across heavy industries to be clamoring for access. A 100 slide study from a big four takes months, disrupts your business, costs an arm+leg, and still doesn't give you the analysis you really need to take to your board. Get decision-quality answers to the complex financial & climate related questions you have about YOUR business immediately. From strategic planning to responding to an investor's question about a new regulation - Earthena will be your new best friend. #sustainability #decarbonization #climateregulation #climaterisk

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Securing a term sheet in today's environment is challenging, but valuation isn't everything. Watch out for these red flags: 1) Excessive control provisions that limit your autonomy. I have seen veto rights, controls on hiring and firing, control on future funding rounds, or overburdensome board constructions. 2) Unreasonable deadlines for milestones. I have seen unsophisticated investors set key milestones in an attempt to “encourage” the founders to deliver, but in reality rush the team leading to mistakes and regrets. 3) Onerous liquidation preferences that can severely dilute founders. Liquidation preference determines how proceeds from an exit are distributed. I have seen 3x or worse on some term sheets. 4) Misaligned incentives prioritizing investor gains over company health. I have seen high interest rates, ratchet provisions that increase investor ownership, and even uncapped returns. 5) Burdensome reporting requirements that distract your team. I have seen groups ask for audited financials monthly and constant KPI updates. Don’t be afraid to negotiate or walk away from a term sheet. The terms you agree to now will impact your business for years to come. Any other red flags you've seen that would be helpful for founders to know? #venturecapital #startups #founders #termsheets #fundraising #earlystage

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When Karthik, Rohit, and I were laying down the foundation of PeerCapital, the most important question we asked was: “Why are we doing this?” The answer didn’t just appear out of thin air; it took work. The thing is you cannot invent your why. You cannot manufacture it. You only discover it by curiously observing what is dysfunctional in the world and how you can uniquely contribute to making it better. I meet tons of founders who often aren’t madly in love with the problem but are somewhat mildly convinced about solving it. But to play for the long haul, the calling must come from within. External motivation runs out. And that's where the why is important. Gravity wasn’t invented—it was discovered because someone dared to ask “why?” This led humanity to build foundations of advanced physics and engineering. Because innovation is an action, and ‘the why’ is the intention that drives the action. Some questions we asked ourselves that helped surface our why: • What’s a niche/industry/idea I cannot stop thinking about?  • How do I envision changing my world? Where can I contribute the most with my current skill set and passion?  • What are my key motivations in life?  • Which problem pushes me to enter my flow and makes me feel alive? How connected a founder is to their purpose is the most underrated success-determining factor. Dare to ask - “why?”

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I’m thrilled to share that Antares Ventures co-led the Series B round for The ePlane Company, marking our third investment in India. ePlane’s cutting-edge eVTOL aircraft technology is set to redefine urban mobility in Asia’s congested and polluted cities.    The company epitomizes the ingenuity and frugality of India-based deep-tech entrepreneurs, who are building truly world-class solutions at a fraction of the cost. We are delighted to invest alongside prominent investors like Speciale Invest, Naval Ravikant, and other leading mobility-focused funds.    We are finalizing two investments in Europe - news to come soon. This will bring us to 11 portfolio companies by year-end, as we continue to scale Deep Tech ventures tackling sustainability challenges in Asia’s Growth Markets. https://lnkd.in/gdFkuRfQ #DeepTechInnovation #UrbanMobility Michael Gryseels Louis Christian Volk Murayama

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PE - Top PE Firms Have Dual Expertise: Investing & Operating One of the best investors in the world always got it right: "I am a better investor because I am a businessman, and a better businessman because I am an investor." - Warren Buffett --- How this applies to PE: - Top decile PE firms have great investment teams and great operating expertise in-house - PE investors are good at investing when they are also have deep expertise in understanding operations, both from their own experience and from their colleagues who've been there and done that - The most successful PE firms of tomorrow are those who have already built their operating expertise as a truly core part of their firm's business model --- #pe #privateequity

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Because I look waaay better on a podcast than on YouTube, LOL (though it is also on YouTube), here is a link to the interview from Prashant Choubey with me on the subject of How VCs should approach LPs. Thanks for a good interview, Prashant, and I hope this is useful! https://lnkd.in/gXANyehS

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✨ Breaking: MountTech Announces New Fund.- MountTech Growth Fund - Kavachh : Led by Dr. Ajay Kumar, the fund emerged in 2024 focusing on startups in sectors such as defense and national security, space and aerospace, cybersecurity, semiconductors, communications, critical minerals, and industrial sectors. Investments range up to Series A, with ticket sizes from $1-3 million. https://lnkd.in/dRiJ4fUM Please share to let other #Founders know For the ❤️ of Startups #Fusion42 #Startups #Venturecapital

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