Dinika Mahtani promoted to partner

The operator-turned-investor will continue to lead our UK investment and strategic initiatives, plus dive further into climate coverage

Cherry Ventures
Cherry Ventures
7 min readJan 22, 2024

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At Cherry, we work hard alongside our founders to help them achieve their greatest potential. Seeing potential in a founder or understanding the possibilities around an idea — especially when others don’t — is something we strongly value.

Over the past couple of years at Cherry, Dinika Mahtani has shown this attribute which is why, among many other reasons, we are thrilled to promote her to partner. As we continue to put founders first and, collectively as a firm and portfolio, make a dent in European technology, we are even further emboldened to embark on this mission with Dinika on our leadership team given her impressive record investing and supporting top founders and her work scaling businesses, like Uber, in Europe.

“Key in further establishing our London presence and investment strategy in the UK, Dinika is a clear leader in the firm and within the portfolio. Our team, founders, and many across the ecosystem value her operational experience, collaborative working style, constructive feedback, and the overall substance she brings to any discussion.”

— Christian Meermann, founding partner

Dinika joined Cherry back in September 2021 and, since then, has crafted our UK investment strategy. Having opened our London office, she has been instrumental in deepening Cherry’s relationship with the UK ecosystem and welcoming more UK founders into our portfolio, leading investments into e-commerce software platform Swap, AI-fashion company Finesse, and alternative food brand Julienne Bruno and several yet-to-be-announced seed companies. On the portfolio front, Dinika also supports companies such as Manual, Ravio, and Ben among others.

Another reason that led us to team up with Dinika in the first place was her tried and true operator background. Before joining Cherry, she was a founding member of UberEats EMEA and later led Uber’s clean mobility division as GM. But beyond this, what makes Dinika stand out is how much she loves working with founders. To founders inside and outside of our portfolio, she is approachable and ultimately supportive, yet direct and constructive in her feedback.

“We’re thrilled to welcome Dinika to the partnership and, more so, be recognized as a leader in the broader tech and investment space. In Europe, there are still far too few women in leadership positions and, as Dinika’s operational and investment track record, impactful working style, and favorable work with founders all show, she’s ready for the job and ready to make further impact.”

— Sophia Bendz, general partner

Dinika’s promotion signals additional momentum for our brand and portfolio. Over the past year, we won Europe’s most competitive seed rounds, primarily occupying B2B software. Dealroom ranked our seed portfolio among the top in Europe for a 4x higher-than-market seed-to-Series A graduation rate at 75%. We proudly invest not just capital, but invest our time, energy, and know-how to our founders across our 30+ person team, spanning investment, strategic resources, and operations.

Overall it’s fair to say that we could go on and on signing Dinika’s praises and what her joining the partnership means to us. But, as we want the ecosystem to get to know Dinika even better, we figured we’d toss the mic over to her and the founders who she works with daily.

What founders say

Anna Buldakova, Meander — “As a first-time female founder, it was important for me to find an investor who could be a true partner for me on this journey. I’m forever grateful that we found such a partner in Dinika. From the get-go, she was a strong believer in our mission of helping people take charge of their career development and has been an invaluable advocate for Meander. She has a rare skill to keep you energized and motivated while challenging and pushing for excellence at the same time, and that’s what made our work together focused and productive. In addition to all the value she brings to the table, I feel personally inspired by her setting an example for female entrepreneurs and investors.”

Seb Fallert, Ben — “We’ve really enjoyed working with Dinika over the past couple of years. She has elevated every board discussion that she’s been a part of, through her thoughtful and very well-reflected — and sometimes contrarian — insights. But her support has also been valuable in the one-to-one interactions and her ability to anticipate. She’s been such a dependable partner to us at Ben.”

Sam Atkinson, Swap — “We would 100% not be where we are today without Dinika’s support, day and night. Whether it’s looking at the designs that we’re building, helping with hiring, and just being there to bounce ideas off, we’re so appreciative of all that she does.”

Creating a mission

Dinika is driven to continue finding and, ultimately, teaming up with game-changing founders and help them turn their ideas into products customers want. Below, she shares more on her working style and motivations, how the UK ecosystem stands out, and the attributes she looks for in founders.

What drives you?
Dinika
: I’m driven by the desire to see great things where others don’t. I love the journey to uncover a truly game-changing founder in a crowded environment. I’m particularly driven to help other women succeed, win, and do great things. For as long as I can remember, I’ve enjoyed working hard and gain inspiration when I’m surrounded by peers, colleagues, and founders who push to do their best. Whether it’s in the board room or coding for the app of the future, I want to see those around me fulfill their greatest potential.

When I first started my professional career in banking, I was the only woman on the trading desk. Then at Uber, I was one of the few women at the leadership level in EMEA. I’ve always wanted to show the world that great things can come from unexpected places and overlooked individuals — and that’s why working with founders is incredibly personally motivating.

How has being an operator informed your investment (and support of founders) approach?
Dinika
: Being an operator means I know how to get my hands dirty, build teams, get stuff done quickly, and, most importantly, create a mission and purpose that will keep people motivated day in and day out.

My approach has always been to adapt to what the situation needs. Some founders only need a light touch whereas others want to hold your hand and jump with them. I have found that it’s best to be adaptable and flexible with the situation. In the words of Bruce Lee, “Be water, my friend.”

What is something that differentiates the UK ecosystem versus elsewhere in Europe? Why should we keep our eyes on the UK?
Dinika
: Starting a company in the UK is incredibly simple with minimal red tape, aided by the extremely high concentration of global talent and top universities, particularly (but not exclusively) in London. We’ve seen the results of the exceptional talent in this city — 46+ unicorns make their home in London. Many of these businesses are in fintech, an area our team heavily invests in and supports including the founder and operator ecosystems coming from Checkout, Monzo, Revolut, GoCardless, and Deepmind to name a few.

Don’t let the grey skies and scattered showers fool you. Cities like London, Manchester, Bristol, and Brighton continue to shine a light on the next wave of innovation and talent generation. These cities are leading the world in fintech, gaming, life sciences, and AI and we see that there’s only more to come.

The sheer density and depth of talent are the most important reasons for my optimism in the UK startup ecosystem.

In today’s world, what does it take for a founder to succeed? What attributes or skills?
Dinika
: The competition in the UK is fierce and some of the best and brightest plant their flag here because that tenacity primes them for success. Generally, I’m on the lookout for:

  • Boldness: The cards are stacked against you as a founder and you’ve got to be clear, be bold, and be willing to take a position that sets you apart.
  • Resilience: I like Charles Darwin’s “It is not the strongest of the species that survives but the most adaptable.” You will be challenged, scrutinized, and humbled. Yet, those experiences will give you the armor you need to win. I’ve always believed that the best founders showcase their adaptability.
  • Customer obsession: I think founders, whether in B2B or B2C technologies, should aspire to build a guerilla movement around their products. I’ve seen this in healthcare, software, and consumer products, and they are relentlessly focused on their customer experience and success. Everything they do is built for the audience and they are confident in their market. It is a beautiful thing to witness!
  • Directness: Founders have too many stakeholders to manage — team, investors, media, governments — and not a lot of time to spend on it. You’ve got to be clear with your words, know when to speak, and, better still, know when to listen. The best idea in the world will be submerged by poor communication skills, so make sure you are clear at all times
  • Unafraid to go all in: To succeed, knowing when you’ve got a great hand is a must. But it always helps to have a bit of lady luck on your side when you’ve got pocket Aces.

When you’re not teaming up with Europe’s top founders, where can we find you?
Dinika
: London is such a great city to explore, get lost in, and find your way back home. My toddler loves to get into random places so when I’m not chasing him down Primrose Hill or at an immersive Van Gogh Museum, then I love to find that hidden magical bakery in a mews in Peckham that has the best cinnamon buns you’ve (n)ever heard of.

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