Divraj Jain [6:59 PM]
@sushanto thanks for doing this , can you tell us a bit about Lead Angels and how you got started ?
Sushanto Mitra [7:01 PM]
Thanks Divraj for having me …Lead Angels is an angel network that invests in early stage companies INR 50–100 lakhs .
Divraj Jain [7:02 PM]
@channel: please begin your question’s with Q:
Hatim Baheranwala [7:03 PM]
Q: @sushanto Nice to see you here :simple_smile: Could you share your thoughts on when is the best time for a startup to start approaching angel investors?
Hatim Baheranwala [7:03 PM]
only post validation of the idea or as soon as the idea / concept is clear?
Sushanto Mitra [7:03 PM]
I was working in IIT Bombay running their incubator and meeting all the young entrepreneurs there got me inspired.
Sushanto Mitra [7:06 PM]
Early stage funding at concept stage and is a huge gap in india. Along with a professor and young graduate also from IITB set up the network in late 2013
Anit [7:06 PM]
Q: Hi Sushanto, nice to have you involved with this community. I run an Accounting firm called TheBackSpace, which works primarily with startups and Small businesses. What would you say is the biggest challenge faced by startups relating to accounting and book-keeping.
Saurabh [7:08 PM]
Q: What type of startups does Lead Angels Invest in? What sector primarily?
Sushanto Mitra [7:08 PM]
Hi Hatim. Good to see here as well. Most angel networks will invest once you have some validation . However at Lead Angels we have invested in one concept stage company
Vipul Shaily [7:08 PM]
As an early stage investor what are your focus area? any preference to particular sector?
Sushanto Mitra [7:10 PM]
Anit biggest challenge is that they don’t think is a challenge…. And end up wasting a lot of time later when they raise external funding or pay fines for late returns
Sushanto Mitra [7:12 PM]
While we are sector agnostic but given the fact we only invest upto 100 lakhs some ideas are too big for us to handle
Varun Goel [7:14 PM]
Q: Are there any particular sectors that Lead Angel members have a big appetite for?
Vipul Shaily [7:15 PM]
What is standard investment process? How long does it take to complete the whole investment process?
Sushanto Mitra [7:18 PM]
Varun there is no particular preferences but I think everyone is keen to look at mobile led on demand services
Divraj Jain [7:18 PM]
Q: https://medium.com/@arlogilbert/silicon-valley-s-dirty-secret-67b1f0efdce4 = Great post which outline’s Silicon Valley’s dirty secret as VC / Angel being the most human ( thus relationship ) driven asset class. As a consequence alot of deserving team’s / idea’s are overlooked by human’s. What’s your view on the future of Angel / VC , do you think AI can make the process more democratic / efficient ?
Silicon Valley’s Dirty Secret
Silicon valley has a dirty secret. Everybody in the valley knows about this secret, many people outside of the valley kn… (66KB)
July 17th at 9:32 PM
Sushanto Mitra [7:20 PM]
Vipul from the time the company makes the first pitch to money in the bank ranges from 45–60 days.
Sushanto Mitra [7:26 PM]
Divraj there are many examples of successful companies which got refused by the best known VC . The lesson here is don’t give up. AI has not done too well in listed equities where there is no dearth of information. This area is all grey and uncertain. Wonder if AI will help
You, Hatim Baheranwala and Varun Goel
Jeffery Axel [7:27 PM]
Q: Do think the failure of posture child mobile on-demand startup Homejoy will affect the environment for on-demand , are there any lesson’s to be learnt ?
Hatim Baheranwala [7:28 PM]
Q: What is your view on startups raising convertible debt funding? Have you seen many seed funding rounds where the angels buy out the people who funded the debt?
Sushanto Mitra [7:31 PM]
I think a lot of companies will fail in this area too. There will be many homes with sorrow. Focus on business and the laws of the land rather than chasing big M&A deals is a clear lesson
Sushanto Mitra [7:32 PM]
Hatim convertible is a good idea if your pretty sure of the series A happening sometime soon. Not heard of people buying out early stage debt.
Divraj Jain [7:35 PM]
Thanks guy’s for your question’s and @sushanto for doing this , hope it was insightful !
Fisher [7:36 PM]
Q: What is your opinion on “sharing economy” based startups in India?
Sushanto Mitra [7:45 PM]
Think they have a great future as Indians are cost conscious and there is a long tradition of sharing
Sushanto Mitra [7:47 PM]
Thanks Divraj for hosting Lead Angels. Look forward to interacting again soon.