Pankaj Makkar offers rare transparency when talking about his investment philosophy. “I always think that investing in a company is very similar to getting married.” said experienced investors. “exist Early growth, long-term Investors are basically becoming professional spouses to founders.” Since its inception in 2012, he has been leading Bertelsmann India Investments (BII) explains.
What is different from temporary risk-taking and market leaders? Often, it is the presence of patient investors that takes precedence over short-term returns.
Unlike most Series B investors who normally exit within 5-7 years, BII has a holding period of 10-15 years. “We came early and we stayed in the long term for a long time and helped businesses prepare for rapid expansion and long-term success.” Makkar explained.
Intent to invest: Spread scripts for ten years
Since the establishment of BII in 2012, Makkar has turned the fund toward a patient capital, a long-term investment philosophy that has achieved remarkable results. According to Bertelsmann’s Boost 25 strategy, BII has deployed over $500 million in India, supporting businesses that define categories such as Unicorns Oruditus, ShipRocket and Licious. About $1 billion in assets under management,,,,, BII Important players have been established in the Indian investment landscape, thus providing the capital depth and tactical guidance required for long-term business construction.
Designed for India, not Silicon Valley
“From day one, we have built funds for India, not by revamping the U.S. risk model.” Mecca said. This localization approach marks a distinct difference from traditional VC scripts and defines the unique position of BII in the ecosystem.
A key difference is how BII Close to post-capital. “We usually reserve three to four times the follow-up of the first check. Most funds capped one-to-one,” McCal said.
Why? Because it takes time to build in India. “You can’t rush. Early stages are not enough – the people who make up need capital support, far exceeding the third grade. ” He added.
Long-term perspectives also shape BII’s exit strategy. “If it makes sense, we’ll quit within five to eight years,” McCal explained. “But if the business is growing and the founders want us to come in, we can live for ten to fifteen years. We build for that. ”
“In India, huge results take time – we are here to help founders build long term.”
More than just capital: long-term partners and voice boards
In BII, investment is related to capital and capital. “We are balance sheet investors – we go back to the idea of solving real, complex problems,” Mecca said. “As long as we have a vision and a firm team, we can set out for a long time. ”
This philosophy shapes a portfolio that raises more than $2 billion in follow-up capital, including breakthrough leaders such as Shiprocket, Oruditus and Licious. BII’s approach (anchored in patient capital and long-term thinking) can prioritize building lasting companies rather than chasing fast exports.
“Our strength lies in the consistency of the founders,” McCal said. “We won’t make decisions that jeopardize long-term outcomes. We are still involved, not as investors, but as boards.”
This is the point that the founder himself reviewed.
“The feedback you gave us is very effective and constructive, which is why we came back for the second meetingAshwin Damera, CEO and co-founder of Oruditus.
“Even outside of capital, what we learn from Betelsmann on our journey online and globally is huge. ” “
“Bertelsman allows us to find our own path instead of boxing us into predefined moldsSaahil Goel, CEO and co-founder of ShipRocket.
“They prompted us to ask the tough questions of when network effectiveness, scale and strategy are crucial.”
Makkar summed it up best: “We play games, share meals, and sometimes argue – but like any strong partnership, we show up when we count. That’s why we build a real company.transparent
Strategic global expansion: financial insights
Jayesh Bavle, Chief Financial Officer BertelsmannIndia InvestingEmphasize the importance of priorities when considering global expansion. He advises the founders to evaluate whether they have international scale bandwidth and capital.
“It’s not just about launching the same product in another country – localization, planning and strategy involvedhe said. Bavle also stressed that companies should look for adjacent markets (in terms of product fitting or operational capabilities) to mitigate the expansion process.
Betting on Bharat: Build the next billion
Where is Bii next? Makkar and Sood point to Balat– The 2nd and 3rd floors of India – as the next border.
“These regions contribute more than half of India’s GDP, but are underserved,” McCal said. “The next wave of leaders will come here from here – bringing unique Indian problems to Indian consumers.”
“The chances in rural India are underestimated,” Rohit Sood said.
A prominent theme: rural India. “It’s not a 2-3 year story. It takes ten years to mature, which is why it requires patient capital,” Pankaj added.
Healthcare is another area of its radar. “These businesses take time to build, but once they do, the results are huge and sustainable. ” Makkar notes. “This is a natural fit for India and a long-term capital we bring. ”
Built for India. Support long distance travel
In a world of fast exports and short-lived trends, it takes time to make large bets by keeping close to founders, thinking long-term and betting heavily on businesses that take time but lasting.
“As investors, we don’t just write checks,” McCal said.We’re on the road – walking through the ups and downs with the founder, real skin in the game. “As assets under management are approximately US$1 billion, more than US$500 million have been deployed in India and through Bertelsmann InvestmentBII is ready to continue to support the next generation of Indian startup champions – built in India, India and in the long term.
Disclaimer: This live blog is a collaborative and has not been edited by Livemint employees.
