021 Capital Advisors

Funds managed

Fund nameAsset ClassLicense
021 Capital trustEarly Stage Venture InvestingSEBI AIF Cat 1

About the AMC

  • It is a venture capital investment firm that invests in sectors like biotechnology, agrotechnology, and the internet.
  • Date of Incorporation- 18th May 2017
  • Sailesh Tulshan says that he has modelled the firm on Iconiq Capital, a California-based multi-family office that had been set up by former Morgan Stanley and Goldman Sachs banker Divesh Makan in 2011. Iconiq has also been managing funds for Mark Zukerberg and Jack Dorsey.

Key staff

Sailesh Tulshan (Founder)

https://www.linkedin.com/in/saileshtulshan/

  • He is the founder of 021Capital Advisors LLP.
  • He is currently the Board Member of SpotDraft, Increff, Pandorum Technologies, YCook, House of Masaba, Nymble,
  • Apart from that he is also serving as a Founder and Board Observer of Tsai Shen Capital and Stellapps Technologies Pvt. Ltd, respectively.
  • Earlier he has been the Vice PResident of Client Associates for around 5 years.
  • He has a B.Com degree from Christ college, Banglore.

Binny Bansal (Advisor)

https://www.linkedin.com/in/binnybansal/

  • He is currently working as an Advisor in 021 Capital and Board Advisor in Udhyam Learning Foundation, N/Core and BlackBuck, GreyOrange, Akco.
  • Also, he is the co-founder of Flipkart. Further along with being the co-founder, he is also the chairman of xto 10x Technologies.
  • Worked as a software engineer in Amazon and Sarnoff for consecutive 2.7 years.
  • Bachelors in Computer Science & Engineering from IIT, Delhi.
  • Ranked 26th along with Mr. Sachin Bansal as 50 Most powerful people of 2017 in India by India Today.
  • In 2015, he along with Sachin Bansal was ranked 86th richest person in India under Forbes India Rich List.
  • Believes into the policy that remains consistent over 15-20 years. He say this is because “The problem is not with the policy, but is when it keeps changing….if the goalpost keeps changing, rather than customers and business, entrepreneurs will need to keep focusing on compliance,”

Investment Philosophy (for fund)

  • This fund was named after the books of Paypal’s co-founder Peter Thiel’s that encourages entrepreneurs to focus on innovations that are radical rather than on incremental improvements. Thiel also said that “tomorrow’s champions will not win by competing ruthlessly in today’s marketplace; they will escape competition altogether, because their businesses will be unique.“
  • This fund will have a corpus of about $50 million and invests upto $2 million each across sectors including biotechnology, agrotechnology, and the internet.

https://economictimes.indiatimes.com/small-biz/money/binny-bansal-backs-vc-fund-021-capital-with-50-million-corpus/articleshow/60202083.cms

  • This fund is expected to get on board institutional along with technology entrepreneurs, including Flipkart’s Binny Bsnsal who has also backed other funds including pi Ventures, Blume Ventures and India Quotient.
  • Tulshan decided to float this fund at the time when several prominent entrepreneurs have launched/ backed such venture capital funds. Some of them include Nandan Nilekani’s Fundamentum Advisors (Infosys co-founder)and RNT Capital (Ratan Tata).

https://timesofindia.indiatimes.com/business/india-business/concerned-about-constant-e-policy-changes-by-govt-says-binny-bansal/articleshow/67876318.cms

  • Its Investments:
Announcement DateCompany NameFunding RoundAmount Raised
17 April 2019InceffVenture Round$3 Million
22 February 2019SpotDraftSeed Round$1.5 Million
29 May 2018YCookSeries B$5 Million
14 February 2018Pandorum TechnologiesSeries A$3.6 Million
  • SpotDraft raised funds of $1.5 million (about Rs 11 crore) that were led by Binny Bansal and Sailesh Tulshan’s fund – 021 Capital.

https://www.firstpost.com/business/spotdraft-raises-1-5-million-funding-led-by-binny-bansal-and-sailesh-tulshan-backed-021-capital-6135801.html

Media

Title: Binny Bansal-backed 021 Capital invests in legal tech startup SpotDraft, Source: Livemint, Date: 22 February 2019

https://www.livemint.com/companies/start-ups/binny-bansal-backed-021-capital-invests-in-legal-tech-startup-spotdraft-1550828674610.html

  • Binny Bansal invested $1.5 million ( ₹11 crore) into an artificial intelligence (AI) and machine learning (ML) based legal tech startup called ‘SpotDraft’. This company has raised $1.5 million in the  pre-series A funding. Also, SpotDraft has said it will utilise these funds in growing its footprints in the global market and would target both large and SMEs.
  • 021 Capital’s CEO Sailesh Tulshan is said to be excited to be the long-term partner with SpotDraft.
  • He saw the growth potential in this startup because they have a superpower tool that would help evaluate legal documents and make decisions with 10x speed and accuracy. This system in India is still from that of 1980.

Analyst questions

  • Your company is said to invest into biotechnology, agrotechnology, and the internet sector. Are you biased about only these sectors or does it change with the changes in the market?
  • As in one of the interviews with Madhav Chanchani of TOI, Mr. Binny Bansal said that policies should remain consistent for over 15-20 years so that the goal post also remains consistent. Why do you think policies related to this industry keep on changing this frequently?
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