'There were hardly any VCs in India': Shark Tank's Anupam Mittal shares how he raised funds

Anupam Mittal, who runs the successful matrimonial website Shaadi.com, shared in the latest episode of Shark Tank India how he raised funds for the first time in 2006 at a time when there were hardly any venture capital or private equity firms in India. 
 
“Around 2005, we realised that competition will increase from here on so we will need investment,” Mittal said adding, “At that time, there were not many VC or PE firms. So I packed my suitcase and went to Silicon Valley in the US where all VC or PE biggies sit.”
 
Mittal said that he ran around a lot in Silicon Valley, did numerous meetings. He even went to New York, Washington DC and other places in the US to find investors but nothing worked out. “Pura US up and down karlia par kuch hua nahi…”
 
The founder of the People Group saw the light at the end of the tunnel in 2006 when he got a call from a well-known venture capitalist. Mittal didn’t mention the name of the VC but added that he was asked to make a pitch. The process took about 4-5 months but eventually he was to raise funds that year.
 
“We received the first cheque from Sequoia Capital, Silicon Valley Bank and Westbridge Capital,” he concluded. 
 
Mittal is one of the most prominent angel investors within the Indian start-up ecosystem. He is known for his investments in iconic start-ups and unicorns such as ride hailing company Ola Cabs, online grocery start-up BigBasket, drone unicorn Druva, and many others. 
 
He has invested in over 240 companies. In the season one of Shark Tank India, he invested Rs 5.4 crore in over 24 companies. Of these, 70 per cent are led by young entrepreneurs, 50 per cent are women-founded companies, and 30 per cent are being led by families. In season two, till the second six, the shark has invested about Rs 8.05 crore. 
 
According to Shark Tank’s website, Mittal’s net worth is between $20-25 million. 

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