Why Green Light is in Aavishkaar-Intellecap Group’s anti-portfolio1 min read . Updated: 29 May 2018, 04:31 PM IST
'Despite knowing your space you may still be proved wrong'
We are a thesis investor and when we look at a business we seek a great management team, a desire to stay on course for long and a business idea that has potential to scale. An area that we were quite curious and have seen many companies was the area of solar lantern business.
We looked at Ignite Innovations—the first company in the stable—and from there on, D Light, Green Light and Cosmos Ignite as well. We did spend the most time with Green Light, which we thought had an exceptional team, some great ideas, a desire to deal with the grime and dirt of building up a difficult business, and a good product.
We decided to not invest in the business finally as we felt that the product would be a transitional product and India may not be the most profitable market for this product. The company went on and raised significant amount of money and has been very successful not only with its global portfolio but in India as well.
We have no regrets of missing the business as we believe Green Light got much better investors and is doing well and our absence did not make any material difference to them. The key takeaway from the miss has been that despite knowing your space and your country you may still be proved wrong.
We give Green Light due credit and wish them a successful future. We hope they continue to grow the market and emerge as one of the leaders in the space.
At the end a great business is an amalgamation of great leadership, strategic insight and timing. We continue to look for such early-stage start-ups that are promising and look at ways of investing and helping them realize what they set out to achieve.