Alok Mittal, the successful first generation entrepreneur-turned venture capitalist, has returned back to the realms of entrepreneurship after almost a decade. He led the India operations of Canaan Partners for almost nine years before quitting to start his new tech startup, Indifi Technologies. He is also a founding member of Indian Angel Network and co-founded JobsAhead, a e-recruitment startup in 1999, which was acquired by Monster.com.
In an exclusive conversation with Inc42, Alok Mittal opens up about returning back to be an entrepreneur again, his new venture Indifi Technologies and his plans and vision for the company.
Here are the edited excerpts:
Inc42: What instigated you to start Indifi Technologies? How does it feel to be an entrepreneur again?
Alok: Small business financing represents a big gap in the market – quantified at around $380 Bn of MSME debt financing by IFC. We believe that this gap exists because of fundamental on-ground issues relating to cost and mechanisms of origination and underwriting. We also believe that there are underlying trends which offer an opportunity to provide a solution.
Feels great to be back hands-on and building something!