Most people in Avnish Bajaj's shoes, when he sold Baazee.com to eBay for over $50 million, would have thought that they've done it all. But the entrepreneur in this accomplished individual's heart is still restless. Now an MD at Matrix Partners, Avnish is at the top of a $600 million fund's India operations, which boasts of a rich and varied portfolio of startups.
In a conversation with YourStory.in, Avnish reveals the secret sauce to Matrix's investment philosophy and his view, from an investor's standpoint, on the Indian Startup ecosystem on the whole -
"There is a lot of seed money available in the Indian ecosystem. This is a good thing, but a business might not necessarily be able to raise a Series A, because it was funded at the seed level. A lot of research needs to put into the market that you're operating in. You must put in the hard work at the seed level itself if you want to raise the next rounds of funding also. If you don't, you might still raise seed money because it is easily available, but not the next rounds."
Watch the video to find out why Avnish thinks so and stay tuned to YS TV as we bring you his thoughts on the mobile ecosystem in India.