Another quarter, another report, another opportunity to share the excitement that is this journey to becoming the Best VC fund in the country. They say when the root is strong, the fruit is sweet. With your continuous support and guidance, we continue to build stronger roots. In September 2016, Team YourNest got a big boost with the joining of Dr Vivek Mansingh as a General Partner. It now gets another fillip with Satish Mulugavalli adding his considerable expertise to YourNest and making the YourNest team the most unique and powerful team for any pre-series A fund anywhere!!! We now have strength in technology, business building and exits along with a strong presence in south and north India. And this benefits both Fund 1 and Fund 2.
It gives me a lot of pride to share that our Advisory Board has been strengthened with the joining of Mr Sharad Sharma, Ashish Gupta and Dr Rishikesha T Krishnan. You will find more details about them in the report.
In the recent past, the startup world has seen a number of delusions erased. It has been rocked by news of devaluations, closures, and of supposed fund paucity. And in all this, your invested companies have been steadily growing in value, with 9 of them having crossed annual revenue run rate of USD 2 million, 9 having received higher value up rounds, host of acclaimed VCs and investors like IDG, Kalaari, Venture Nursery, Mr K Gopalakrishnan, etc. co-investing in your companies, and the NAV continuing to grow. These small developments feed our hunger to work harder and better to deliver on the potential of these fantastic companies in our portfolio. Let me borrow a phrase from Bob Marley : Though the road’s rocky, it sure feels good to me.
The famous poet Kabirdas ji said:
Dheere dehire re mana, dheere sab kuchh hoye
maali seenche sau ghada, ritu aaye fal hoye.
Meaning: The gardner toils for years and keeps on watering (nourishing the plant). The fruit appears when the season is right.
The signs of the right season are on the horizon.
Sunil K Goyal