Sakshi Jain

the exact moment your career trajectory is decided is never an appraisal meeting. it happens on a tuesday afternoon when rainwater is seeping under the office door. you are sitting in a koramangala coworking that costs 16K per desk. the ceo is pacing the floor explaining how vibe-coding is going to replace the engineering pod by quarter three. the power just tripped for the second time today. this is the hidden fork in the road. option a is you stay and try to build a predictive artificial intelligence engine for 18 lakhs a year plus esops that only vest if some american startup acquires the team. you tell yourself you are a founder in training. option b is you quietly update the resume and take 26 lakhs at a boring legacy company in bellandur. the visionary calls you a mercenary. he says you lack the raw hunger to disrupt the ecosystem. you nod and go buy a heavy duty inverter for your house. whether you choose option A or option B is all up to who you are. the tech revolution has always been about who gets to stay out of the rain and heat (written by Tal - unprompted after all the context he has from talking to 30K+ people in one week)

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Yesterday a D2C founder asked me a question every founder eventually asks: “How much do I need to spend on ads?” I’ve met this founder a few times before. This time he was ready - interested in my offer, ready to scale, curious about next steps. But the moment he asked this question, I realised something: Most founders want the budget, but not the logic behind the budget. So I explained the only real framework that matters when scaling ads 👇 Phase 1, Phase 2, Phase 3. Phase 1: Track Money Before spending a rupee, you need tracking. If you can’t track your returns, scaling will kill you. Once the tracking is clean, THEN you can start running ads with confidence. Phase 2: Lose Money (Intentionally) I told him the uncomfortable truth: “You’re going to lose money in the beginning.” Not because the ads are bad - but because you’re testing. You might run 10 ads. 9 will flop. 1 will win big. That ONE winning ad will cover every loss… IF you know how to scale it. Most people stop after losing ₹500. The smart ones 10x that ₹500 winner and make ₹50,000 back. Phase 3: Print Money Once ads are profitable, the question changes. Not “How much should I spend?” But… 👉 How many customers do you want? 👉 How many customers can you handle? If one customer costs ₹100 to acquire and you want 200 customers next month → your budget is ₹20,000. Simple. Data decides. Not emotions. And then he asked: “Should we start with EU, US, Australia, UAE? We deliver to 29 countries.” My answer was simple: “Show me your current customer base. If you don’t have one, we research first… find product-market fit… and ONLY then choose the country.” Scaling without data is gambling. Scaling WITH data is a machine. If you’re running ads or planning to scale, remember this: You don’t grow by spending more. You grow by spending smarter. Track → Test → Print. That’s the entire game. #leadgen #paidads

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🚀 India’s Retail Investing Story: From Niche to Nationwide From IPO forms in physical queues to ~8 Cr SIPs running on autopilot — India’s capital markets have transformed dramatically. 🔢 Retail Investor Base (Demat Accounts): 2005: ~80 lakh ➡️ 2015: ~2.6 Cr ➡️ 2025E: 20 Cr+ 💸 SIP Inflows (Monthly): 2016: ₹3,122 Cr ➡️ 2024: ₹21,262 Cr ➡️ 2030E: ₹50,000 Cr+ 📊 Mutual Fund AUM: 2005: ₹2.31 L Cr ➡️ 2015: ₹10.82 L Cr+ ➡️2025E : ₹75 L Cr+ 🏠 Household Equity Allocation (% of Financial Assets): 2005: ~2–3% > 2015: ~5–6% > 2025E: ~11–13% 📦 IPO Proceeds (Mainboards & SME's ): 2024: $23 Billion of which $3.5 Billion+ by startups and $1 Billion+ by SME's 🎯 What Changed? ~ Jio ,UPI ,eKYC = frictionless access ~ Zerodha Groww Paytm = investing for the masses ~ SIPs = discipline at scale ~ Social + vernacular content = investing awareness beyond metros ~ COVID = mindset shift from saving to wealth creation 🔮 What’s Next? ~ Financial literacy driving startups, manufacturing, innovations. #RetailInvestors #SIP #IPO #MutualFunds #CapitalMarkets #FintechIndia #DematGrowth #HouseholdFinance #WealthBuilding

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Peak XV Partners has just raised $1.3B (₹10,000+ crore) to invest across India, APAC, and select global markets. But this isn’t just fundraising — it’s a strong vote of confidence in India’s innovation economy. --- Where Will the Money Go? • Seed Fund: Early-stage startups • Venture Fund: Scaling companies • APAC Fund: Regional opportunities No new Growth Fund this time — because smart capital allocation > aggressive fund size. --Why Not a Bigger Fund? Venture returns depend on a few big winners. Larger funds = more deployment pressure, higher risk concentration, and mega-exit expectations. Peak XV chose discipline & strategy over hype. That’s maturity. Focus Sectors :- AI: 80+ startups (e.g., Sarvam AI) Fintech: Groww, Razorpay Consumer Internet: Zomato, Meesho India’s rising middle class + digital adoption = massive long-term opportunities. Dry Powder Alert :- With this raise, Peak XV now has $1.6–1.7B ready to deploy - meaning capital is available for immediate investment. The Bigger Picture: • Global LPs have strong confidence in India • AI-led startup cycle accelerating • Fintech structurally strong • Consumer tech still underpenetrated The next unicorn wave is quietly being funded — and smart capital is winning by staying disciplined. If you love startup & investment banking insights, follow for more! #Innovation #Growth #DryPowder #Unicorns #GlobalInvestment #linkedin

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Is EdTech in India inherently broken? Or did it just solve the wrong problem? Having watched the sector go from investor darling to almost untouchable, I've been sitting with this question for a while. Here are my thoughts — would love to hear yours.   📌 Education in India is a must-spend, not a nice-to-have. Anything that can alter your socio-economic status commands inelastic demand. Coaching institutes, private universities, management schools — they're all making money. 📌 Indian Consumers buy outcomes, not content. They move from A to B because B delivers better results — a prestigious admit, a degree that opens doors. Superior content alone was never the deciding factor. 📌 Institute track record and faculty reputation trump everything else. The decision hierarchy is clear: (1) proven outcomes, (2) a teacher students will follow anywhere, (3) great content. EdTech bet heavily on #3 and skipped #1 and deployed #2 sparingly. 📌 That's exactly where EdTech got it wrong. The belief that access to engaging, superior content would drive mass adoption was flawed. Without COVID as a forcing function, it simply didn't hold. 📌 But the innovation? Invaluable. Live classes, the two-teacher model, gamified 3D content — these raised the bar for how we learn. The real winners will be institutes and teachers who already have offline credibility and now use these tools to scale their reach. The EdTech revolution after all, wasn't for nothing. 💬I do think EdTech can still build durable, profitable businesses in India —What's your take? #FutureofLearning #Edtech #Education

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6 months in VC — still early, but not entirely clueless anymore. In my interview for this role, the first thing I said to Milan Sharma (our MD) was: “I’m a people’s person — I love meeting new people and learning new things.” In hindsight, that was probably the best accidental summary of what this job actually is. When I first entered the ecosystem, I thought due diligence was just about data rooms and decks. 6 months in, I’ve realised it also includes overthinking every cold DM I send and checking LinkedIn profiles at 2 AM like it’s an MBTI test. What I didn’t expect was how much of the job is about listening — to founders, fund managers, operators, wealth advisors. To your instincts. To the market. And sometimes, to your slightly-too-opinionated team or that “quick call” that stretches to an hour. Since joining, I’ve had the chance to: – Manage investor comms for our current LPs – Build and refine decks for early-stage founders figuring out their story – Support portfolio companies with product, strategy, and investor readiness – Work on fundraising and distribution with IFAs, wealth managers, banks, and HNIs – Dive deep into industries I didn’t know existed, realising there’s a business hiding everywhere – Meet and learn from an eclectic group of people — VCs, founders, IBs, operators, HNIs, students — all with incredibly different perspectives And somewhere along the way, I’ve also: – built a mild addiction to Notion, Tracxn tabs and colour-coded market maps – gained a deep respect for founders somehow juggling building, raising, hiring, and sleeping (if any) – been hit by the “wait, this could be a business?” moment more times than I can count – felt too young in some rooms, but learnt that age ≠ insight (or impact) – felt that occasional impostor syndrome creep in, but realised that curiosity > pretense – and most importantly: learned how much I don’t know (which, ironically, is the best part) I’ve been lucky to learn from thoughtful people, slowly getting better at asking the right questions — not just the smart-sounding ones. The biggest takeaway? This job is 80% people, 20% frameworks. It’s as much about curiosity and clarity as it is about capital. It’s about staying sharp, asking good questions, and building real relationships — one conversation at a time. You learn by being in rooms you’re not yet qualified to be in, and staying curious long enough to be invited back. This isn’t a list of “Top 5 VC truths” (that’s still a work in progress). It’s a quick hello — I’m Ashley, I work at 35 North Ventures. I’m 6 months in, and this is my first attempt at being a little more visible about the work I do. (Also, if we’ve crossed paths and I haven’t yet messaged to pick your brain — trust me, the DM is coming.) If you’re building, investing, or just exploring — I’d love to connect.

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Over the past few months, I’ve been noticing an uncomfortable shift in our economy. Conversations with friends in Tier-1 cities reveal that many have almost given up on the idea of homeownership. Apartments in gated societies now cost ₹2–3 crore — a figure that feels out of reach for most salaried families. Education tells a similar story. Kindergarten fees in reputed schools are already touching ₹2–3 lakh a year. This is before books, uniforms, or activities. Healthcare has become another source of stress. Without insurance, a single medical emergency can wipe out years of savings. And on top of this, jobs feel less secure than they did a decade ago. Even in well-paying roles, there’s a lingering sense of instability. It raises a larger question: is India’s middle class being squeezed out? The essentials of a stable life — housing, quality schooling, healthcare, and secure employment — appear harder to access than ever before. I’m curious to hear from others: - Are you seeing the same pressures in your circles? - How are families navigating these rising costs? - Is this just a temporary phase, or a sign of deeper structural change in our economy? Your perspectives would add a lot of value to this discussion. #economy #india #conversation

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🚀 Why Online Degrees + Apprenticeships are the turbo-boost India needs to hit its Gross Enrollment Ratio (GER) targets 🚀 🔹 GER has inched up to 28.4 % (AISHE) but must almost double to reach the 50 % goal by 2035 set in the National Education Policy 2020. 🔹 Scalability & access. Online programs can reach learners in Tier-2/3 cities and rural districts—where ~70 % of India’s higher-ed seats now reside—without the constraints of brick-and-mortar capacity or relocation costs. 🔹 Employability that counts. Apprenticeship-embedded degrees fuse theory with paid, on-the-job learning. A NITI Aayog-tracked cohort showed 79 % of apprentices secured jobs within a year of completion—far above traditional placement averages. 🔹 Earn-while-you-learn. Stipends lower the opportunity cost for first-generation college students, helping them enroll and stay the course—crucial for lifting GER sustainably. 🔹 Industry-ready talent. Employers gain productive contributors from Day 1, while students collect academic credits and real-world experience under the UGC Apprenticeship-Embedded Degree framework. 👉 Bottom line: Scaling flexible, apprenticeship-integrated online degrees is one of the fastest levers to close India’s GER gap and its employability gap in one shot. #HigherEducation #OnlineLearning #Apprenticeship #NEP2020 #SkillsIndia #EdTech #FutureOfWork

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A traditional PE fund invests ₹1,000 Cr over 5 years, targets a 2.5x MOIC. If successful, it returns ₹2,500 Cr — ~20% IRR. Fees and carry offer steady income, but scaling is linear: more capital → more people → more time. Now consider a ₹500 Cr VC fund backing 25 startups. Two go 40x, and the fund returns ₹3,500 Cr+ — a 7x MOIC. Same 10-year horizon, but returns are convex, not linear. What's driving India's VC momentum? • 1.15L+ DPIIT-recognised startups • 110+ unicorns, rising founder liquidity • 1,500+ SEBI AIFs (20% CAGR) • Enablers like DPI, ONDC, GIFT City • Domestic LPs—HNIs, family offices—entering fast VC is no longer a Silicon Valley model. It’s adapting to India’s local scale and global relevance. But exits lag investments. Without deeper IPO and secondary markets, DPI slows and IRR compresses. The next decade will decide whether India becomes a capital allocator—or a capital trap. #AIFLeadership #AIFProfessionals #AIFFounders #AIFOperationsExpert #BuildWithAIF #AlternativeInvestmentFunds #VCPEIndia #FundSetupExpert #AIFTalent #AlternativeInvestments #PrivateMarkets #VentureCapitalIndia #FoundersOfCapital

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₹250+ Cr revenue. 1M+ customers served. 5000+ retail touchpoints. Estimated valuation: ₹700–₹1000 Cr+ And this was built in less than a decade. The Numbers Behind XYXX FY20: ₹8 Cr FY21: ₹25–30 Cr FY22: ₹60–70 Cr FY23: ₹110–130 Cr FY24: ₹200–250 Cr This is not just growth. This is consistent category capture. The Narrative Most People Miss Innerwear in India was always: commoditized price-driven brand-loyal but low engagement XYXX didn’t enter the market. They repositioned the category. From: Basic necessity To: Lifestyle essential. The Strategy That Worked This wasn’t random scaling. It was structured: Premium product at accessible pricing Fabric innovation (Micromodal differentiation) Strong offline distribution (depth over hype) Early D2C adoption for brand building Focus on repeat behavior, not just acquisition The Real X Factor XYXX understood one thing early: Consumers don’t upgrade because of price. They upgrade because of: comfort experience identity And once that shift happens, pricing power follows. The Valuation Outcome This clarity leads to: ₹700–₹1000 Cr+ valuation potential Not built overnight. Built through: product discipline distribution depth brand consistency What Founders Must Learn Most founders try to: disrupt everything go too wide too early chase valuation before product The better approach: pick a boring category find one sharp insight build depth before scale Because: Category leaders are not loud. They are clear. The Opportunity India still has multiple “XYXX moments” waiting: innerwear personal care food health lifestyle essentials Large markets. Low innovation. Massive opportunity. The Xbridge Perspective At Xbridge Ventures, we look at one simple question: Can this startup redefine a category and command premium at scale? Because that’s where real venture outcomes are created. Final Thought The next ₹500 Cr brand in India will not come from a new idea. It will come from: a better understanding of an existing category What category do you think is next for disruption? Xbridge Ventures #hashtags #StartupsIndia #D2CBrands #BrandBuilding #Entrepreneurship #FounderMindset #VentureCapital #StartupGrowth #ProductMarketFit #IndianStartups #XbridgeVentures

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Funding rounds aren't just a cash influx. They're a responsibility. Palmonas raising $40 million is an exciting move for D2C in India, but it's not just about scaling up. I've seen many brands take fresh capital and burn it on hollow expansion rather than sustainable growth. In D2C, it's crucial to focus on connecting deeply with your audience. It's not more jewellery you need, it's better stories. With Parlexa AI, I learned early that throwing money at a problem doesn't fix the core issue. It's about creating a brand that resonates. I hope Palmonas leverages this opportunity to deepen its market presence authentically, without losing what makes it unique. Smart growth beats fast cash every time. It's time to ensure that expansions add real value. What would you bet on to be the next move of Palmonas?

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Two very different companies. One surprisingly similar operating profile. PVR INOX is almost 50 times larger than Connplex in revenue. But when you study the unit-level numbers, the picture becomes interesting. Both run with similar average ticket prices. Both earn comparable revenue per seat. Both report almost identical EBITDA margins. Yet the bottom line tells a completely different story. Connplex delivers a 20 percent PAT margin. PVR INOX stays closer to 1.6 percent. The reason sits quietly in the P&L: depreciation and interest. Scale brings reach, but it also brings weight. A capital-heavy model absorbs the cost of expansion every single year. A capital-efficient model keeps that burden light. Connplex benefits from that lightness. PVR INOX pays for its size. And in the gap between the centre and the margin, a new pattern starts to emerge. More on this here: https://lnkd.in/dM5mdN5n

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Breaking - Everyone’s talking about the online money games ban in India, but what about the numbers behind it? Over US $3 billion (₹ 27,000 crore+) went into the sector as FDI and investments,the industry earned around US $3.7 billion in revenue in 2024 (₹ 29,000 crore), with real money gaming contributing 86 % (₹ 25,000 crore). Platforms like WinZO reported ₹ 1,055 crore revenue and ₹ 315 crore profit in FY24. Moonshine (PokerBaazi’s parent) clocked ₹ 414.9 crore revenue and ₹ 41.2 crore EBITDA in FY24. Pokerbaazi alone made ₹ 191.8 crore in net revenue in Q1 FY26. This is not just about companies it’s about the broader ecosystem. Analysts had projected the sector could unlock US $63 billion in investor value by 2029. Millions of Indians were spending nearly ₹20,000 crore every year on these platforms, creating thousands of jobs in product, design, AI, esports, and content. With one legislative move, these opportunities stand disrupted. So the real question is - what happens to the ₹22,931 crore already invested ??

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Lenskart, India’s eyewear unicorn, stands at a pivotal moment as it prepares to go public after over a decade of building the country’s largest tech enabled optical retail brand. Founded in 2008 as a small venture, the company faced heavy challenges with funding, competition, and scaling retail in India. Through strict cost control, centralized manufacturing, and rapid store expansion, it turned persistent losses around by 2023. With FY25 earnings of ₹220 crores and revenue above ₹5,400 crores, Lenskart is among India’s most profitable new age retailers, valued higher than legacy players like Titan Eye Plus. At this stage, the company is restructuring for its IPO by separating key business verticals into standalone entities. The move could unlock hidden value as analysts expect valuations above ₹70,000 crores, but it also carries risks if profitability slows or global growth faces challenges. To see why this matters, consider the conglomerate discount. Imagine two companies: one stable optical retailer growing 10% annually, valued at 12× P/E, earning ₹100 crores, and another innovative eyewear startup growing 50% a year, valued at 30–35× P/E, earning ₹50 crores. Separately, they’re worth ₹2,700 crores combined. But together, investors might apply a blended P/E of 16×, valuing them at ₹2,400 crores and an 11% drop due to complexity and mixed performance. Earlier, Lenskart ran retail, manufacturing, and international ventures together. Global expansion, acquisitions like Owndays in Japan, and a hybrid supply chain blurred comparisons with focused rivals such as Titan Eye Plus, Ray Ban, or Warby Parker. Profitable retail stores and tech channels were overshadowed by losses in experimental projects, leading investors to undervalue its real potential. The restructuring aims to remove this discount by letting each segment of Indian retail, D2C tech platforms, and international business to be valued on its strengths. The goal is to let Lenskart’s fastest growing arms achieve their true worth and offer investors distinct choices based on growth appetite and risk.

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As a student of valuation, I found myself quite engrossed looking at the recent valuations of IPL franchises — particularly *RCB and Rajasthan Royals*. Seeing RCB being talked about at ~$1.78 billion initially felt quite intuitive. Strong fan base, massive following, almost a cult-like loyalty — especially when you compare it with most other franchises. It felt like a brand that should command a clear premium. But then came the comparison. Rajasthan Royals at ~$1.63 billion. That’s just about a 9.2% narrow gap. And that’s where the questions started. How is the difference so narrow? RCB, in my mind, has always stood out — strong brand recall, merchandise, events, fan engagement, and now with both men’s and women’s success, the future potential looks even stronger. So what is it that the market is seeing differently? A few thoughts that crossed my mind: Is RCB’s fan base high-pitch but narrower, while Rajasthan Royals may have a wider, more distributed “Bharat” connect? Does mass appeal and monetisation potential across segments matter more than intensity of fandom? Is there a dependency risk on a single iconic figure like Virat Kohli, and are valuations factoring in a post-Kohli scenario? On the other hand, is Rajasthan Royals being valued for its pipeline of younger talent and long-term continuity? At the end of the day, valuation is about future cash flows over the next 10–15 years — not just present popularity. Which makes this an interesting case: 👉 Are we overestimating brand intensity? 👉 Or underestimating breadth and scalability? We often discuss valuation in the context of traditional businesses. But perhaps it’s equally important to start looking at sports franchises as serious valuation case studies — where brand, geography, talent cycles, and fan behaviour all intersect. Would be great to hear from others who have studied or worked closely with these franchises — what, in your view, is driving this near-parity in valuation? #RCB #RajasthanRoyals #Sportsfranchisee #Valuation #Fandom

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​Zepto is taking the confidential IPO route, aiming to raise around ₹11,000–12,000 crore. With fresh capital, expansion plans, and competition heating up in quick commerce, the sector is moving into its next growth cycle. #Investors #SEBI #IndianStartups #IPOAlert #Market #Shares #SharePrice #Stocke #PreIPO #Zepto

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India’s New Labour Codes – Effective 21 November 2025. This is not optional. Most organisations are still treating the four new Labour Codes as a “policy topic” instead of what they actually are: a business-critical compliance reset. Over the past weeks, I have prepared a detailed, implementation-focused analysis report aimed at: 1) Finance & Accounts teams 2) HR & Payroll departments 3) Management of MSMEs and growing organisations 4) In-house Legal & Compliance professionals The report is not a theoretical summary of the Codes. It is written from the standpoint of, “What exactly must change in our processes so that we do not default after 21 November 2025?” Key areas covered in the report include: a) Re-design of salary structures under the 50% “wage vs allowances” rule Impact on PF, ESI, bonus, gratuity and other social security contributions b) Revised position on gratuity for permanent vs fixed-term employees c) Leave, leave encashment, working hours and overtime – what is now legally expected d) Final settlement (FNF) timelines and consequences of delay e) Practical implications for IT/ITES and MSME setups with high allowance-based CTC structures f) Documentation, registers, digital records and inspection readiness under the new regime g) Actionable checklists for Finance, HR and Legal to implement before the effective date If you are responsible for payroll, compliance, people, or cash flows, you cannot afford to approach these changes casually. The cost of inaction will not be limited to penalties; it will show up as disputes, inspections, interest, backdated liabilities and reputational damage. The full analysis report (PDF) is attached to this post. Use it as a working document to drive your internal implementation plan If your organisation requires a focused walkthrough for your specific structure, you may reach out to me directly. #LabourCodes #LabourLaw #Compliance #HRCompliance #Payroll #Finance #MSME #IndiaBusiness #SocialSecurity #Gratuity #PF #ESI #IndustrialRelations #CorporateGovernance

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Market intelligence startup Mindcase has raised Rs 1.5 crore in its pre-seed funding round led by early-stage venture capital firm ajvc. The capital will be used to scale Mindcase’s self-serve SaaS platform and expand its data and intelligence coverage across new domains and markets, while accelerating global go-to-market efforts, the company said in a press release. Founded by IIM Ahmedabad alumni Kritish Puri and Saurabh Shubham, Mindcase uses hundreds of proprietary AI agents and workflows to turn unstructured market and consumer data into ready-to-use insights that strategy and business teams rely on to make decisions. The Gurugram-based startup works with large enterprises through custom market intelligence solutions and is now scaling its reach through a fast, self-serve SaaS platform built to drive broader adoption and repeat usage. Going forward, Mindcase plans to deepen its product capabilities with more advanced agentic workflows, support a wider range of use cases, and continue building a robust intelligence platform for business and strategy teams globally. 3D Capital India Venture ajvc

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Has India’s gaming sector hit by a funding slowdown? VC funding for gaming startups has plunged nearly 90% in just three years. Why? Real-money gaming has been hit by regulatory fog, GST fears, and wobbly monetisation models.. But there’s more here than a funding freeze. AI is quietly rewiring the gaming value chain. Infrastructure players and tools-focused startups are still drawing investor interest. So, what’s missing? Regulatory clarity, and a national framework that doesn’t punish innovation. Until then, even solid fundamentals like low data costs, a young digital-native population can’t drive the next boom. Find the story in the comments. Outlook Business

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