My first experience as a tech startup investor was with Romulus Capital. We founded Romulus together with Krishna Gupta and Anant Chaturvedi in 2008, while still students in college. Krishna was 20 years old, and I and Anant were 21 at the time. We were young and new to the game and this was reflected in the size of Romulus’ first fund which was less than $1M.
Our original plan was to invest $25K-$100K checks as the first investor in companies emerging from the MIT campus. Seed rounds were much smaller in 2008 than they are now.
I left Romulus after the first fund for my current role, and Anant is now working at his family business Uflex, but Krishna kept going. Together with his new partner Neil Chheda, they raised a $50M second fund in 2014. And earlier this month they announced a $75M third fund.
As you can guess, the vast majority of people who we pitched the first fund to while we were still college students thought we were crazy. While we were launching a fund rather than a tech startup, it was a startup fund. As a result, we experienced as many rejections for our funding requests as most startups do.
In light of these experiences, it’s amazing to see Romulus’ current success. I congratulate Krishna and Neil on what is the latest but certainly not the last step of their journey.
Also published on Medium.