Byju's crisis: 'Board members leaving en-masse also typically means people trying to protect their reputation,' Indian-American businessman Kanwal Rekhi said.
In a no holds barred interview, Rekhi said SoftBank pushed for growth instead of profitability and that a growth-stage startup with no profitability is nonsense.
Investors' association TiE Silicon Valley President Venktesh Shukla said a large number of startups are failing and "we should allow them to close their units in an easy way. It is extremely critical because lot of their energy is wasted in unproductive work".
BJP talked about clarity, investments, rolling out the red carpet, no red tape, but all hasn't happened yet, says Kanwal Rekhi, MD, Inventus Capital Partners. However, he likes the tone of the government
Kanwal Rekhi is building up his new fund and says he's looking at non-capital-intensive companies in sectors like healthcare, education, financial services, and those that have a strong technology component in their service offering.
He was the first Indo-American CEO to take a venture-backed company public on the NASDAQ. Now US-based Kanwal Rekhi is back in India scouting for innovative start-ups for his company Inventus Capital to invest in.
On the show this week meet team of equals at Inventors Capital Partners. Investing in India since 1993, early stage investment firm Inventus Capital Partners focuses on tech based start ups across sectors.