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Titan Capital's 100x returns on Mamaearth: Luck or Skill?
“Kunal and Rohit will pocket ₹40 crores each from Mamaearth IPO.”
You read this headline as Mamaearth lists today.
You pause. A few thoughts run through your mind.
“Wish I was Kunal!”
“Kunal can take that kind of risk. I can’t.”
“Kunal can put big cheques, I can’t.”
“Kunal has access to deals. I don’t.”
“It probably was a fluke.”
“Whatever.”
And you move to the next headline.
Let’s pause a bit longer to understand what goes behind the scenes.
What did it take for Kunal and Rohit?
Is it a fluke?
Or is there a process?
Kunal and Rohit have been patiently investing for 8+ years.
They have invested in 200+ startups.
They have spent countless hours meeting and listening to the founders’ pitches, mentoring the young entrepreneurs.
All this while they were building Snapdeal.
Being founders themselves, they could get access to young founders.
Being founders themselves, they could relate to other founders.
Being founders themselves, they were able to figure out what is hard to pull off, and what has a shot.
And they worked tirelessly towards building a diversified 'index' of Indian startups.
It’s a game of chance. Only if you invest in a single startup.
It’s a game of skill. If you follow a process.
Hyper-curation reduces the chance of losing money.
Diversification increases the surface area of luck.
It’s not a fluke.
When done systematically this asset class generates superior returns than public equity markets. It is about being on the right side of the risk-reward ratio.
As tech becomes mainstream and as tech accelerates, more founders will figure out more ways to use tech to solve the problems of users and businesses.
Hundreds of new unicorns will be born.
Hundreds of billions of dollars of value will be created.
Most of this value will be captured by a handful of angels and VCs with big cheques.
What about you?
How can you capture that value?
Be like Kunal. Do what Kunal did.
Or join Misfits.
It’s important to be in the right set of startups.
It’s not important to pick those startups yourself.
Misfits is about broad exposure, not big cheques.
Join Misfits to get systematic exposure to an ‘index’ of hyper-curated startups.
We are picky. So you don’t have to be.
