Anup Jain, the newly appointed managing partner at Mumbai-based venture capital firm Orios Venture Partners, likes taking risks. If you don’t take risks, you can’t really come up with an innovation or idea that is perceptibly new and not just incremental, he believes.
This is true — the biggest risks result in the biggest payoffs. For instance, Benchmark Capital’s early bet on Snapchat in 2013 when it wasn’t clear whether it would be a serious social media company paid off beautifully. The VC firm, which led the Series A round that raised $13.5 Mn for the company, raked in a neat $3.2 Bn when Snapchat went public in 2017!
Going by Anup Jain’s previous career roles — he’s led big teams and handled large-scale finances at companies such as Bata, the family-owned global footwear maker — one wouldn’t imagine he had such a risk-taking appetite. He concurs that the propensity of most big companies and legacy enterprises for taking risks is subdued.
But Jain explains that notwithstanding the companies he’s worked with, he as an individual is not averse to risks at all. In fact, the thought of fuelling an innovative idea to make something of it excites him and he always had the desire to mentor and scale startups. So, in 2015, he acted on his passion and became an angel investor with his own company Redback Advisory Services, which provided startups access to growth opportunities, networks for partnerships, and growth capital through strategy advisory.
With Anup Jain joining Orios last year as a venture partner and with his new role, we can expect some exciting deals in the FMCG and retail space, where he will be leading investments.