mach33 reposted this
"If we are growing, we actually have a problem." That is Manoj Kumar, founder of Social Alpha, on his measure of success: an institution built to make itself unnecessary. Over ten years, Social Alpha has backed more than 450 Indian start-ups solving problems conventional capital would not touch: a cryogen-free MRI machine, biodigesters running in more than 100,000 households, incense sticks made from temple flowers pulled from the Ganges. Those companies have gone on to raise more than $150 million in follow-on capital. Social Alpha's wager is that markets can be built. De-risk the venture, align state, society, and capital, and a risk mainstream investors once refused becomes one they can underwrite. I spent the past several months writing the Stanford University Graduate School of Business GSB case on Social Alpha with Professor William Barnett. What Manoj, Vidya Phalke, and the full team at Social Alpha have built deserves to be studied, and replicated well beyond India. Case link in comments.