The story of Paradigm Shift VC fund
With on its investment in Purplle, the Indian investor ecosystem is making its mark on the global market for all the right reasons. A report by gaining 22X returnIndian Private Equity, IVCA, and AWS states that the number of micro VCs rose to 88 in 2020 — up from just 29 in 2014.
However, amid the pandemic, Dhruv Washishth realised that there was a need for a “younger” VC fund managed by younger people to further push the VC envelope. So, he teamed up with his sister Surabhi Washishth, as well as Govind Mundhra to start Paradigm Shift in 2020.
Keeping an eye out for big opportunities in Tier II and III cities, the VC fund is currently focused on niche Indian startups, catering to Bengaluru, Mumbai, and Delhi, with the scope to scale globally.
According to Dhruv, the founders’ passion and the problem they are trying to solve tick the checkboxes for Paradigm Shift.
“The founder’s passion and intensity to build something that lasts and brings a valuable change to the world is the primary driver for us,” he adds.
Being not tied to a location to work, the concept of remote working that emerged during the pandemic has the potential to up the female labour force participation in India, which is currently at a dismal level. Flipkart's Aishwarya Kalakata, DXC Technology's Anuradha Balasubramaniam, Though Works' Gunjan Shukla, LogiNext's Pooja Patel, PharmEasy's Shraddha Kanpal, and Streak.ai's Jayalakshmi Manohar talk about what the new normal means for women in tech.
Editor’s Pick: The Turning Point
Rather than working for a big corporate, Utkarsh Ayush realised his interests lay in uplifting people through politics. So, in 2019, he started Digital Minds Media Services — a startup that helps political parties and politicians with portfolio creation, content, digital platform creation, implementation of a standard operating protocol, etc. Read more.
Indian families have transitioned from being multigenerational to nuclear. With the drastic changes in family structures, providing holistic care for the elderly has become a challenge. Enter Khyaal, an agetech startup that provides the elderly with well-rounded physical, mental, social, and financial support. Read more.
Khyaal Co-founders (L to R): Pritish Nelleri, Hemanshu Jain, Alok Soni
News & Updates
- The Supreme Court of India ruled in favour of the Tata Sons’ decision to remove Cyrus Mistry as executive chairman in 2016. A three-judge bench ruled out oppression and mismanagement at Tata Sons, as alleged by Cyrus Mistry.
- WeWork has decided to go public via a SPAC merger with BowX Acquisition Corp., the company said in a statement on Friday. Both companies expect the deal, which will value WeWork at $9 billion, to close by the third quarter of this year.
- Companies will now be required to disclose their dealings in cryptocurrencies, with the Ministry of Corporate Affairs (MCA) putting in place stricter disclosure requirements to enhance transparency.
- As part of furthering the ease of doing business in India, the government is set to introduce a single-window clearance mechanism for investors by mid-April to attract greater foreign investment, a senior official said.
- A mix of the uncertainty of 2020 and accelerated digital adoption saw Indians leverage their time spent online for "determined pursuit of progress," a report by Google said, which also noted the geographical expansion of new digital users in smaller locations and rural India.
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“When everything seems to be gone by the board, we tend to be more innovative and more creative to find solutions.”