September 28, 2023

FDI Forum

Earn the right Invest

Why this Harvard Enterprise School alum made a decision to start an early-phase financial commitment fund

As an angel trader, Saloni Jain has invested in a diverse portfolio of organizations, which includes AjnaLens, The Hosteller Hospitality Pvt Ltd (in which she is also a board member), Neeman’s, CultYvate, and Saarthi Pedology.

Bringing her expertise as an angel investor, Saloni decided to get started SUNiCON Ventures in 2018 to spend in early-phase startups. She has a a few-fold vision for the Mumbai-headquartered fund–work with passionate founders, create a favourable impression, and make a versatile ecosystem.

Saloni is a believer in steady learning. Ahead of getting into the money realm, the Narsee Monjee College or university of Commerce and Economics graduate did chartered accountancy, and lately concluded her certification in negotiation tactic from Harvard Company School–an schooling that is aimed at realising her vision.

The SUNiCON staff also incorporates Suresh Jain, who is a General Spouse. He was the founder of Networth Inventory Broking Ltd, Sunlight Money Advisory Products and services, Sunshine World-wide, and SUNiCON. He has invested and scaled in excess of 50 businesses in price about his career. He sites importance on developing effects and runs social impression institutions, including Vishwakarma Kaushal Kendra and Vidya Ghar.

Saurabh Shaw, a graduate of Pune College, is also a Common Spouse. He is the founder of MAKS Team, a multi-business business centered on vitality and automobiles, and also was an early trader in Bira. Saloni suggests his strength lies in building business enterprise by bringing in the proper culture and SOPs in business operations.

UR Bhat, Undertaking Companion and Advisor at SUNiCON, has far more than 45 yrs of practical experience doing the job in money establishments. He formerly headed Dalton Group, JP Morgan Asset Management in India, and has been on the boards of Axis Asset Management and Edelweiss Asset Administration.

In a dialogue with HerStory, Saloni talks about the fund’s eyesight and its strategies.

Edited excerpts from the job interview:

HerStory (HS): Tell us every thing about the sizing of the fund and what sort of startups, sectors, and levels do you invest in? 

Saloni Jain (SJ): SUNiCON Ventures is an early-phase sector-agnostic fund with a eager concentrate on Internet3 and buyer solutions. We devote in find providers and function alongside their expansion journey. We are a SEBI registered class II fund.

This is our very first fund and we have allocated $20 million, with an normal expense of $300,000 per startup. We act as an incubator as perfectly, and have previously manufactured our initial near as nicely as begun deploying.

HS: Why did you set up the fund? What were the core aims and applications? 

SJ: It’s the pure pleasure of building good organizations alongside amazing founders that drives and energises us. Our founding team has been in the investing room for 30 years now—way right before the word startup was even coined. We constantly get concerned with our founders and assist them expand faster. We system to do this in a far more impactful manner with the fund framework.

HS: How did you develop the core team? How did you fulfill, and how did everyone align with the plan?

SJ: The core team of 6 members has been investing in early-phase companies for 4 several years now. We resonate with every single other’s thoughts when it will come to selecting portfolio organizations. The staff is a potent believer in using its encounter and community to improve the portfolio companies. Our analyst workforce has also been doing the job alongside with us for the very last 12 months, and has been skilled in the performing lifestyle before the fund’s start. 

HS: Convey to us about some of the investments and why did you opt for them?

SJ: Some of our former investments are:

  • Dimension NXG – Ajna lens – to stimulate deep technologies and hardware advancement from India.
  • The Hosteller – to make a backpacking group in India which is lacking.
  • Neeman’s – really encourage sustainable and cozy brand 
  • CultYvate – to bring automation in irrigation, leading to preserving drinking water, electricity, and raising the crop quality 
  • Rubix – to establish a amount 1 blockchain for India and bring genuine-world utility to blockchain technology 
  • Sportzchain – help supporters and bring enthusiast engagement as a notion in Asia.

 HS: Convey to us what sectors you are on the lookout carefully at and why? 

SJ: We are closing searching at World wide web3 simply because it is a breakthrough technological know-how which will have a substantial influence on all sectors. Our eyesight is to make an ecosystem to prosper Net3 corporations out of India.

We also seem at purchaser products and solutions simply because India is a escalating purchaser marketplace, and there are a great deal of revolutionary solutions still to explode. We also like edutech, AI/ML, and customer service 

HS: What do you appear for in the founding workforce and the organization just before investing?

SJ: Given that we entered early, we give a lot of emphasis on the good quality of founders ….We check out to realize if they have the functionality and vision to pull off a quickly-advancement story. 

HS: What ought to founders retain in head while pitching? And what information would you give?

SJ: Be accurate to your story and 100 percent fully commited. Make a very simple pitch deck and place significant knowledge points upfront …Don’t try out to cover information, hoping buyers is not going to question since investors will not miss any knowledge …In simple fact, they will very first talk to what is missing in the deck.