Written By: Yashika Sabharwal
Bejul Somaia wins The Midas Touch Award for best Investor
- Bejul Somaia wins the Midas Contact award for greatest investor, Expertise Information, Economic Times tech.
- Economic Times Start-up Awards 2019 goes to Bejul Somaia, who wins the Midas touch award for best investor.
- Bejul Somaia, managing director at Lightspeed Enterprise won best investor Award 2019.
It has been a starting point of run for Bejul Somaia, who is one of tremendous managing director of Lightspeed Venture Partners, over the past two years. It was an almost $1 billion partial exit to his clocked from the fund’s most prized portfolio company, Oyo, which announce the day of The Economic Times Start-up Awards jury meeting and his wonder achievements under the head of Midas touch award for best investor.
He personally feels himself that it is good for the entrepreneurial ecosystem in the long run to fully the on long-term sustainable growth, rather than just running behind the “growth, growth, and growth”.
Light speed is an early-stage venture capital firm in New Delhi with a total estimated capital of $3 billion under management. It invests in the US, India, Israel and China.
Even if the jury took note of the massive return Somaia and Lightspeed would make on a $20-25 million investment in Oyo, they emphasised equally on how the Midas touch winner, and needs to come in early and support start-ups through their life cycle. Somaia’s early and bold bets like a $600,00 cheque for a 26% stake in Oyo, doubling down on Udaan, a business-to- business trading platform, and helped him win over others.
Apart from succeeding in every battle, the main mantra for him will be. “I had to learn to stay focused on the size of the prize, and whether it was really worth winning, rather than the details of what can get in the way.”
Bejul is also attracted to the founders who believes and play the exact same kind of long winning game. The ones who are already insightful, must have find a strong sense of purpose, and demonstrate exceptional clarity about their market and opportunity.