When digital marketer Atul Hegde and industrialist Sudhir Menon collaborated, they brought the rain for early-stage startups. This alliance gave rise to a venture firm called Rainmaker Ventures, which would invest in early-stage, as well as mentor them. The firm recently closed its maiden $50 Mn VC fund.
Sudhir is the chairman and MD of Mumbai-based Dorf Ketal Chemicals India, while Atul was previously the CEO of Ignitee Digital Services – a Mumbai-based advertising and marketing agency, which is a part of Malaysia-based Astro Group funded TOTHENEW ventures.
We caught up with Atul for an exclusive chat on Rainmaker Ventures, its modus operandi and future plans. Here are the edited excerpts:
Inc42: Why did you and Sudhir decide to come up with Rainmaker Ventures?
Atul: If one observes the startup ecosystem for the past several years, one will notice how most startups fail. There could be several factors for this – the biggest being the inability of hands-on experience. While capital infusion plays a vital role in the formation of any startup, mentoring is extremely crucial as well. That’s where Rainmaker Ventures comes into the picture. Sudhir and I decided to create a value establishment that would not only invest financially but also invest time and experience. Our vision is to bring on board several leaders who are expert in their own field to join our mentoring board, along with Sudhir and myself.