What have you found most effective in building trust across diverse stakeholders, founders, investors, and institutional partners?
For me, building trust was the main part, and it took me 10+ years to reach here and it has 5 Pillars:
Deal Quality – Consistently offering high-potential, well-vetted opportunities.
Accessibility – Being available for key decisions, due diligence, and support.
Proven Results – Delivering returns for investors and founders fosters credibility.
Transparency – Openly sharing risks, progress, and setbacks—no surprises.
Adaptability – Tailoring communication to resonate with founders (vision) and investors.
How do you approach decision-making when balancing long-term ecosystem goals with immediate operational outcomes?
Balancing long-term ecosystem goals with short-term outcomes requires strategy and discipline. Here’s my approach:
Anchor to Vision – Every operational decision must align with core long-term objectives (e.g., sustainability, trust). Short-term wins should fuel, not undermine, the bigger picture.
Tiered Prioritization – Categorize decisions: Strategic bets protected from short-term cuts (e.g., key partnerships).
Scenario Testing – Stress-test choices: “Will this Q3 cost-cut harm our 3-year competitive edge?” Build buffers (cash, relationships) to absorb trade-offs.
Transparent Trade-offs – Communicate sacrifices openly (e.g., “Lower margins now ensure market leadership later”). Involve stakeholders in tough calls to maintain trust.
My Rule: If short and long-term goals conflict, ecosystem health trumps immediate gains. Consistency compounds trust.
Which early-stage sectors or themes do you believe are currently underrepresented in mainstream investment conversations?
While mainstream VC focuses on AI and SaaS, these overlooked areas offer substantial upside:
Climate Adaptation Tech – Flood/drought resilience, infrastructure hardening, and agtech for extreme weather are critical but underfunded vs. mitigation solutions.
Real-World Tech (“Bits of Atoms”) – Robotics, advanced manufacturing, and construction tech bridge digital and physical worlds with less competition than pure software.
Digital Infrastructure – Data centres, cybersecurity, and network upgrades lag behind cloud/AI growth despite being foundational.
Deep Tech & Materials – Quantum computing, photonics, and novel semiconductors enable breakthroughs but require patient capital.
Biotech for Underserved Needs – Rare diseases, women’s health, and mental health solutions face funding gaps despite high societal impact.
Circular Economy – Upcycling, industrial waste recovery, and closed-loop systems address sustainability needs beyond basic recycling.
Private Debt & SME Financing – Alternative lending for underserved small businesses (especially in emerging markets) fills bank retreat gaps.
Diverse Founders – Female, LGBTQ+, and BIPOC-led startups deliver outsized returns yet receive <2% of VC funding.
Why It Matters: These sectors tackle pressing global challenges, face less hype-driven competition, and align with long-term trends.
Investors who build expertise early can capitalize on mispriced opportunities while driving systemic impact.
What role should institutional frameworks play in strengthening founder readiness and capital access in emerging markets?
Strong institutional frameworks, including policies, regulations, and support Programs are vital for bridging gaps in founder readiness and capital access in emerging markets. Here’s how they drive impact:
Filling Structural Gaps: Address voids in legal protections, market infrastructure, and information asymmetry, enabling smoother business formation and investor trust.
Founder Capacity Building: Government-backed incubators, accelerators, and training programs equip entrepreneurs with essential skills, networks, and investment readiness.
Expanding Capital Access: Public seed funds, credit guarantees, and regulatory reforms (e.g., simplified listing rules) unlock early-stage funding and attract diverse investors.
Strengthening Governance : Robust corporate governance standards and investor protections boost confidence, encouraging domestic and foreign capital inflows.
Enabling Global Integration: Harmonized regulations and strategic partnerships connect founders to international capital, expertise, and markets.
By providing stability, resources, and connectivity, institutional frameworks lay the foundation for scalable entrepreneurship in emerging markets.
Which upcoming regulatory or macroeconomic shifts do you think will most influence how early-stage deals are structured?
Key Regulatory Shifts Reshaping Early-Stage Deals in India:
Stricter Merger Control
- New ₹2,000 crore deal value threshold (DVT) brings more digital/pharma deals under CCI scrutiny
- Minority stakes now face approval if they grant access to sensitive data/operations
Eased Foreign Investment Norms
- PN3 restrictions relaxation expected for neighbouring country investments
- Higher FDI caps in space (100%) & insurance (74%) via automatic route
Angel Tax Removal
- July 2024 abolition reduces compliance burden
- Boosts domestic & international early-stage capital flow
Tighter Disclosure Rules
- SEBI’s expanded UPSI definition requires:
- Enhanced due diligence
- Stronger confidentiality protocols
Investor Focus on Fundamentals
- Funding winter driving demand for:
- Profitability overgrowth-at-all-costs
- Staged financing with milestone triggers
- Stronger governance rights (veto, board seats)
Sectoral Tailwinds
- Fast-track IPO pathways for SMEs
- Policy pushes for AI/deep tech (PLI schemes)
- Sustainability incentives boosting climate tech
As someone who’s seen the arc of ecosystem-building firsthand, what change, or inflection point are you most looking forward to?
The inflection point I am most looking forward to in the startup and investment ecosystem is the rise of a more democratized and purpose-driven model, where access to capital, talent, and pivotal markets becomes truly inclusive and global.
Several trends are converging to create this shift:
Democratization of Capital: Innovative platforms and regulatory change are allowing broader participation, from international LPs to family offices, enabling more emerging managers and diverse founders to raise and deploy funds, even outside traditional hotspots. Smaller ticket investments and cross-border capital flows are transforming who can build and scale ventures.
Focus on Sustainability and Impact: Investors and founders alike are increasingly prioritizing sustainable, mission-driven businesses. ESG, climate tech, and socially conscious models are becoming mainstream priorities, aligning profit with purpose and long-term value for all stakeholders.
Realignment Toward Fundamentals: With less froth and more scrutiny post-2021, the ecosystem is shifting focus to unit economics, capital efficiency, practical AI, and tangible business value. This reset means resilient, problem-solving founders will thrive, leading to more sustainable and impactful ventures.
Regional and Sectoral Diversification: The next wave centers around scalable innovation from non-metropolitan regions and fresh sectors, especially in countries like India, where Tier 2/3 city startups and Middle India-focused solutions are attracting capital and spotlight.
Technology-Enabled Collaboration: AI-powered due diligence, blockchain funding rails, and digital public infrastructure are opening new pathways for trust, transparency, and operational scale, even across borders and cultures
This upcoming transformation means a vibrant, more level playing field, where the “next big thing” can come from anywhere, powered by bold builders with access to global capital and supportive ecosystems, not just elite networks or major cities. It’s the most exciting and impactful inflection yet, and its effects will shape innovation for years to come.
About Rahul Prigawat
Rahul Prigawat is a dynamic and accomplished investment professional with a proven track record in startup ecosystems, venture capital, and strategic leadership. Based in Delhi, he has over 10+ years of experience in scouting and evaluating startups, managing investments and fostering relationships with investors and entrepreneurs.
Rahul has played pivotal roles at organizations like Camel Capital, LetsVenture, Nasscom and IAN where he spearheaded deal sourcing, fund-raising, and investor relations. His expertise spans equity, debt, and venture debt investments, with a remarkable achievement of facilitating 30+ startup deals and raising over 250 CR for early and growth-stage Startups like Tinkerly, Freshokartz, Banksathi, Docpharma, Peakamp, Rysen Academy, Patcorn, Zypp Electric, Regrip, Zevo, AHODS and 25+ more startups. He has also created private syndicates, onboarded 150+ investors, and mentored 100+ startups, earning recognition as a board advisor for companies like Tinkerly Freshokartz, Peakamp and Banksathi. Rahul is connected with 150+ VC, 30+ Family offices and 15+ PE globally.
A certified Lean Six Sigma Black Belt and Investment Banking professional, Rahul holds a B.Tech in Mechanical Engineering from Lovely Professional University. Beyond his professional pursuits, he is passionate about Cricket, Traveling, Networking, Video games and driving. Known for his analytical acumen and strategic vision, Rahul has been a mentor at Startup Bootcamp Australia, IIT Delhi, Meity, and AICTE and he has been a jury member at 50+ events. His contributions to the startup ecosystem have earned him 170+ 5-star reviews on Unikon.ai, solidifying his reputation as a trusted leader in the investment community.
