Manvendra S Saxena

SolarSquare Energy is the largest installer and operator of distributed solar assets in India, and has become one of my favorite case studies of *nailing* product-market fit within the Lowercarbon Capital portfolio. This week, they announced a $40M Series B funding round led by our friends over at Lightspeed - it's go time, chalo! India is the world's fastest growing residential solar market, with more roofs and more sun than just about anywhere on the planet. There's a whole lot of room to run - only 1M homes have been solarized to date out of the 50M ready to install. Add that up, and we see a $100B prize up for grabs by the end of the decade. The jalebi on top? The Indian government has strategically accelerated this industry by rolling out subsidies, reducing permitting friction, and enshrining net metering as a legal right. Solar Square is in the right place at the right time. Huge congrats to Shreya Mishra, Neeraj Jain, Nikhil Nahar, and the entire team. If anyone is looking to join the next Indian unicorn at the center of the global energy transition, look no further. #tech #climatetech #climate #energy #energytransition #solar #electrification #india #emergingmarkets

54

5 Comments

This past week, I had an engaging conversation with Sanjoy Sanyal for Caspian Climate Conversations. We discussed my newest venture, Edhina Capital, and investment opportunities in IP-led businesses in EV and Energy sectors. CCC has captured a wealth of knowledge from various thinkers, doers, and innovators in climate technology over the last three years. It is an honour to join this formidable line-up. At Edhina Capital, our competitive strategy is rooted in Sector and Technology depth and painstaking Research for differentiated investment opportunities. Our mission is to provide vertical support to businesses. We help family offices with direct investment opportunities. Couple of arguments that formed the centre of my conversation with Sanjoy: 1. Traditional sectors of Mobility, Energy and Built Environment are transitioning to being climate resilient on the back of deep Science, Computing, Communication and Scale. These present significant investment opportunities in IP-led businesses that are disrupting the sector. 2. Nuanced understanding of the Sector, Technology and Product differentiation feeds a powerful investment strategy at Edhina that is capital efficient at Early stage as well as at the Growth stage, and renders itself to market competitive returns. Listen to the full episode for more: https://rb.gy/7fpmy8 #ClimateAction #CleanEnergy #EMobility #Sustainability #ImpactInvesting #ClimateTech #CaspianClimateConversations‍

56

5 Comments

Looking forward to meeting women entrepreneurs who are on their journey to create some pathbreaking ideas and inspiring others to do the same. #advaitawomenentrepreneurs #womeninbusiness #entrepreneurship #womenentrepreneurs #EmpowerWomen #womenleaders #businesswomen

75

6 Comments

I had a lot of fun recording a podcast episode with Shiva Singh Sangwan. We discussed the evolution of Humba Ventures & Susa Ventures; tips for raising and building a fund; how to improve investment sourcing & picking; the role of luck in investing, and so on. https://lnkd.in/eiqsStej

32

3 Comments

its not just about VC/investor appetite for more mature start-ups where the risk is relatively less, its the turn now of VCs being treated the same by LPs. very likely to happen in India as well if not already happening. The infamous long tail in VC universe is very much going to be a reality.

5

A very succinct representation of energy / power as it relates to our daily lives. Very useful and helpful in all sorts of ways for all whether you are thinking your business economics, operational planning, carbon footprint. But most of all in big picture perspective.

16

2 Comments

Episode 341 of The VentureFizz Podcast features Somak Chattopadhyay, Managing Partner at Armory Square Ventures. Yes, markets like the Bay Area, NYC, and Boston get a lot of attention when it comes to building startups and having the ability to raise capital, but there are lots of other places to build a successful company. This has always been the case, but the pandemic definitely pushed this reality further.  This is why a firm like Amory Square Ventures exists. There are lots of secondary markets where entrepreneurs need access to capital and it is also a very important matter for the local economy for these companies to grow and create jobs, versus relocating. Somak shares the details of what led him down the path to start Armory Square Ventures, a seed and early stage venture fund, and why their approach of investing in seconday markets has not only been a differentiator for their firm but what they also consider as an optimism engine and a community catalyst for regions outside Silicon Valley. In this episode of our podcast, we cover: * Advice on how founders can push back on advice from investors. * Somak’s background story and his early career in startups. * How he landed in venture capital at Edison Ventures and Tribeca Venture Partners. * The details on what they are targeting for investments and portfolio company examples like Machinery Partner and ACV Auctions, a Buffalo company that went public. * Somak’s anti-portfolio, companies that he reviewed and an investment didn’t work out and went on to be a successful company. * Advice on building a marketplace. * And so much more. #venturecapital #startups #marketplaces

5

JEMHR.CO is a shining example of a company that embodies the principles of passion and purpose, much like the firms highlighted in "Firms of Endearment: How World-Class Companies Profit from Passion and Purpose" by Rajendra S. Sisodia, David B. Wolfe, and Jagdish N. Sheth. Here’s how JEMHR.CO aligns with these principles https://lnkd.in/dfqP5PkN

19

 Showcasing the sustainability and economic efficiency of #renewableenergy projects can persuade #investors of their viability and potential for #highreturns.

2

When Karthik, Rohit, and I were laying down the foundation of PeerCapital, the most important question we asked was: “Why are we doing this?” The answer didn’t just appear out of thin air; it took work. The thing is you cannot invent your why. You cannot manufacture it. You only discover it by curiously observing what is dysfunctional in the world and how you can uniquely contribute to making it better. I meet tons of founders who often aren’t madly in love with the problem but are somewhat mildly convinced about solving it. But to play for the long haul, the calling must come from within. External motivation runs out. And that's where the why is important. Gravity wasn’t invented—it was discovered because someone dared to ask “why?” This led humanity to build foundations of advanced physics and engineering. Because innovation is an action, and ‘the why’ is the intention that drives the action. Some questions we asked ourselves that helped surface our why: • What’s a niche/industry/idea I cannot stop thinking about?  • How do I envision changing my world? Where can I contribute the most with my current skill set and passion?  • What are my key motivations in life?  • Which problem pushes me to enter my flow and makes me feel alive? How connected a founder is to their purpose is the most underrated success-determining factor. Dare to ask - “why?”

394

34 Comments

Today, we had a productive gathering in San Francisco with top management from Five Star Bank - California and several of my VC colleagues to discuss current market challenges. It was an enriching conversation with a diverse group of individuals representing various types of funds, and the open-minded team from Five Star Bank. Here are a few key points from our discussion: - Inequality in Funding: We addressed the funding disparities between male and female founders. It's notably harder for female founders to raise funds, especially now as startup funding decreases. However, there are funds specifically targeting minority and underrepresented founders to support their innovative ideas and products. Our Vibranium Venture Capital team has always been dedicated to helping those in need, focusing on immigrant founders looking to relocate their businesses to the Bay Area. - Banking Challenges: A major topic was the situations with Silicon Valley Bank and First Republic Bank, which not only created gaps in specific banking products for startups and VC funds, but also led to serious trust issues. What our ecosystem is looking for in my couple of points?  - Banking Flexibility: Many banks lack flexibility, often requiring founders to be physically present and have extensive documentation to open accounts. This is why many immigrant founders, who are new to the U.S., turn to Neo Banks for their speed, flexibility, and simpler requirements.  - Trust Rebuilding: Trust can be rebuilt through personal relationships. Knowing there’s a person at the bank you can call to solve immediate issues like wire transfers or document retrievals can significantly enhance trust. - Use of Ai and Streamlining Due Diligence: We also touched on inefficiencies in the due diligence process between startups and VCs. I shared that we are developing an AI-powered platform INNOVERA.AI to streamline this process, enrich data, and synchronize founders and investors faster, thus increasing funding success through data-driven decisions. We agreed to meet again as this journey is just starting, and there are many opportunities to make this ecosystem more efficient. We aim for a win-win approach that allows founders to focus more on their companies and VCs on effective deal-making. We hope these meetings continue to bring ecosystem players closer together and further establish San Francisco and the Bay Area as the AI capital of the world. More updates to come! Was happy to see. James Beckwith, Brian💥 Sparkes , Irene Montalvo, Renzo Luján , Jennifer Vancini, and many others. Attn to: Daniel Kozlov, Kamran Elahian, Pedram Mokrian, Marilynn Ahern, Ella Shukho, Galina Dremova, Valentina Podgainaia (Pidgaina)

47

14 Comments

Three years ago, Stage Venture Partners backed Ariyan Kabir, Brual Shah , and Satyandra K. (SK) Gupta's startup, GrayMatter Robotics. Today, GrayMatter revealed their $45 million Series B, led by Wellington. In the past three years, GrayMatter's robots have handled 7.5 million square feet of products, streamlining tasks such as sanding, grinding, and finishing high-performance surfaces. This innovative automation addresses urgent labor shortages, enabling U.S. manufacturers to meet demand efficiently. Technology like GrayMatter's is crucial for American factories, and the company is just scratching the surface in revolutionizing high-tech production processes. https://lnkd.in/gJaUfDZq

207

16 Comments

I'm VERY excited about this. Having seen what Earthena's platform is capable of, I expect every C-suite across heavy industries to be clamoring for access. A 100 slide study from a big four takes months, disrupts your business, costs an arm+leg, and still doesn't give you the analysis you really need to take to your board. Get decision-quality answers to the complex financial & climate related questions you have about YOUR business immediately. From strategic planning to responding to an investor's question about a new regulation - Earthena will be your new best friend. #sustainability #decarbonization #climateregulation #climaterisk

101

14 Comments

This by Niren Shah of Norwest Venture Partners in his interview with Madhav Chanchani on The Arc is a point i deeply resonate with. Because we have a very thin (~30m households, ~120m people) consuming class (India1) for most products, if you are looking to expand outside this segment, then your pricing changes, and that impacts your cac, and unit econ and you have to reconfigure the biz model all over again, and then you have to rework PMF for this audience. My 2 caveats for early stage founders 1) monetise early, even if it is a 2-stage biz model where you get audience first, and then think of monetising. Do not keep it unmonetised for too long. It is only when the customer faces some economic cost, or you know someone is paying for the product (advertiser), that you know it is working, and can pour on the customer acquisition fuel 2) if you believe you are largely an India1 product - and there is no shame in it (for this 120m people would be the 13th most populated nation in the world if it were seen as a separate country) - then be careful about how much capital you raise. The biggest mistake happens when you raise a lot of capital - typically at Series B,C thinking the growth will continue, and you get tapped out, but to satisfy the madates of growth investors you still end up spending for customers, but a lot of your original biz model and pricing has to change to cater to this lower income set, and the unit econ goes awry. TLDR: Monetize early. And if you are going to remain India1, raise only the capital you can absorb, get profitable and list early. Link to the arc piece: https://lnkd.in/g7zsRE3F

507

23 Comments

My Entrepreneurial Kickoff for 2025 In 2024, a dream of mine came true: co-founding my own startup with my childhood best friend, Aayush Shah. We incorporated our company, kickstarted beta development, tackled compliance hurdles, and laid out a multi-year roadmap. Now I’m stepping into 2025 with a positive outlook—knowing we’re just months away from our beta launch! Our startup, Zennoia, is transforming how early-stage ventures interact with investors — from the very first pitch to long-term collaboration. What type of content to expect from us: • Bi-weekly updates on our journey • Short videos & reels to share behind-the-scenes moments • Candid conversations about both the highs and lows of startup life This year, Aayush Shah and I will both be sharing content from our unique perspectives—though not limited to just “tech” or “business.” As an engineer, Aayush Shah will talk about coding challenges and product development, but he’s also diving into the business side of things to understand how engineering decisions align with market realities. Meanwhile, I (Sharvil Ved) bring a business perspective, but I’m immersing myself in the technical foundation that fuels our vision. Each new insight shows how engineering decisions shape strategic outcomes—and how real impact arises when business insights and technical execution work in tandem. If 2025 is your year for bold moves—whether you’re starting something new, scaling up, or stepping outside your comfort zone—let me know! I’d love to cheer you on or swap stories. Where to Find Us Zennoia • LinkedIn, Instagram, Reddit: @zennoia • X (Twitter), YouTube: @zennoiaofficial Sharvil Ved (Me) • LinkedIn, instagram and youtube: @sharvilved • X: @sharvil_ved Aayush Shah • All Platforms: @shahaayush1999 Here’s to turning big ideas into realities and celebrating every step along the way!

48

29 Comments

The abolition of #angeltax has opened many doors for #FDI, as well as domestic money. With the removal of difficult tax regulations, domestic and foreign #investors now have more freedom to support Indian #startups. As a result, more private, individual and family office money is expected to flow into the #startup ecosystem in the coming days. This will unleash Indian startups to conquer the world and will be a powerful factor in translating research into #commercialisation. I spoke to Shereen Bhan of Young Turks on various intricacies of budget and its impact on our ecosystem. Watch the full episode here: https://lnkd.in/gsDzuH8b

14

In my 18 months at Prime, I've been a part of countless pitch meetings. Through these, I've identified certain patterns that pique my interest in a company and its founder(s) enough to move to the next level of discussion. Many founders express frustration with the pitching process due to a lack of actionable advice on how to prepare. In this fireside chat with Jerome Manuel, I share my approach to running a first pitch meeting and what I look for when considering a second meeting. I hope this proves helpful to those navigating the startup pitch and fundraising process. Please feel free to share your comments and feedback! #startuppitch #fundraising Check out the full video here: https://lnkd.in/gg2FK5qF

79

1 Comment

Ravi Venkatesan highlights a critical reality: India’s middle class, despite fueling economic growth, faces wage stagnation and structural challenges. At Capria Ventures, our investment thesis is centered around the potential of India’s rising middle class—creating scalable, profitable businesses that address their needs and lead to overall economic growth. From JobTech to FinTech, we have focused on solutions that don’t just create jobs but transform livelihoods, ensuring equitable growth and opportunities for millions. Click to read the article here: https://bit.ly/3DTWBzy Capria India , Mint, Will Poole, Dave Richards, Surya Mantha #FutureOfWork #CapriaVentures

10