My Portfolio



Startups

I occasionally invest in startups, thought I don’t consider myself an active angel investor. Here are my investments as of December 2019:

It’s early days, but so far the outcomes seem to follow a classic power law distribution. Out of 12 investments over 6 years, I have 1 at >20x, 1 at >5x, 3 at 2-5x, 4 at 1x, and 3 at 0x. My IRR on angel investments is 35% (including the failures), though it’s hard to tell how much of that is skill and how much is luck.

In addition to investing directly in startups, I am an LP in GrowX Ventures, a firm I believe is India’s best seed-stage venture investor.



For Founders

If you’re a startup founder looking for investment, I’d be happy to chat – with the caveat that I say no to the vast majority of deals I see, and even when I do say yes, I invest fairly small amounts.

I prefer B2B to consumer. I’m most familiar with business models that involve data, APIs and network effects, though I’m open to others. I especially like startups solving tedious problems in unglamorous sectors. If any of this sounds like you, please email me!



Elsewhere

Startups should only be a small part of any investment portfolio, and this is certainly true of mine. As of December 2019, my overall allocation is: