Deepak Shenoy: The Data-Driven Angel Investor and Capital Mind Founder
Deepak Shenoy, the founder of Capital Mind, has become one of India's most analytical and data-driven angel investors, bringing a unique quantitative perspective to startup investing.
Who is Deepak Shenoy?
Deepak Shenoy is the founder and CEO of Capital Mind, a quantitative investment research firm. He's known for his data-driven approach to investing, both in public markets and startups. With a background in technology and finance, he brings a unique analytical perspective to angel investing.
Investment Philosophy
Deepak Shenoy's investment approach is heavily data-driven:
1. Data-First Analysis - Quantitative metrics over qualitative stories - Focus on unit economics and financials - Data-driven decision making - Emphasis on measurable outcomes
2. Financial Discipline - Strong unit economics - Path to profitability - Sustainable business models - Capital efficiency
3. Technology Focus - Deep tech and SaaS companies - Technology-enabled solutions - Data-driven products - Scalable tech infrastructure
4. Founder Quality - Analytical thinking - Data-driven decision making - Technical capability - Long-term vision
How He Evaluates Companies
1. Financial Metrics - Unit economics (CAC, LTV, margins) - Revenue growth and quality - Path to profitability - Capital efficiency - Burn rate and runway
2. Product Metrics - User engagement and retention - Product-market fit indicators - Growth metrics (organic vs paid) - Network effects - Defensibility
3. Market Analysis - TAM, SAM, SOM analysis - Market growth trends - Competitive landscape - Timing and trends - Defensibility
4. Technology Assessment - Technical architecture - Scalability - Data capabilities - Innovation and moats - Technology differentiation
Notable Investments
Deepak Shenoy has invested in various sectors:
SaaS & B2B: - Postman (API platform) - Chargebee (Subscription billing) - BrowserStack (Testing platform) - Various B2B SaaS companies
Fintech: - Razorpay (Payment gateway) - Various fintech startups - Financial technology solutions
Deep Tech: - AI/ML companies - Data analytics platforms - Technology infrastructure
How to Prepare for Deepak Shenoy
1. Prepare Financial Metrics - Detailed unit economics - Revenue projections - Path to profitability - Capital efficiency metrics - Burn rate analysis
2. Data-Driven Pitch - Quantify everything - Show metrics and KPIs - Demonstrate data-driven decisions - Present clear financial models - Show traction with numbers
3. Technical Deep Dive - Explain your technology - Show scalability - Demonstrate innovation - Present technical moats - Explain data capabilities
4. Market Analysis - TAM/SAM/SOM analysis - Market growth data - Competitive analysis - Timing justification - Defensibility arguments
5. Demonstrate Analytical Thinking - Show data-driven approach - Present clear metrics - Explain decision-making process - Demonstrate quantitative thinking - Show understanding of numbers
Key Insights
What Makes Him Unique: - Data-driven investment approach - Quantitative analysis focus - Financial discipline - Technology expertise
What He Looks For: - Strong financial metrics - Data-driven founders - Technology differentiation - Sustainable unit economics
Red Flags: - Poor unit economics - Lack of financial discipline - Weak metrics - Unclear path to profitability
Investment Criteria
Must-Haves: - Strong unit economics - Data-driven approach - Clear financial metrics - Technology differentiation
Nice-to-Haves: - Path to profitability - Capital efficiency - Strong technical team - Large market opportunity
The Deepak Shenoy Approach
On Data: "Data doesn't lie. If the numbers don't work, the business won't work."
On Unit Economics: "Unit economics is the foundation. Everything else is built on top of it."
On Metrics: "Measure everything. What gets measured gets managed."
Lessons for Entrepreneurs
- Be Data-Driven - Make decisions based on metrics, not just intuition
- Focus on Unit Economics - Build profitable businesses from day one
- Measure Everything - Track all key metrics and KPIs
- Think Quantitatively - Use data to guide your strategy
- Financial Discipline - Capital efficiency and profitability matter
How to Get His Attention
1. Show Strong Metrics - Demonstrate positive unit economics - Show clear financial metrics - Present data-driven growth - Display capital efficiency
2. Data-Driven Pitch - Quantify your value proposition - Show metrics and KPIs - Present financial models - Demonstrate analytical thinking
3. Technical Excellence - Show technology differentiation - Demonstrate scalability - Present technical moats - Explain data capabilities
The Capital Mind Perspective
Deepak often looks for: - Companies with strong financial metrics - Data-driven business models - Technology-enabled solutions - Scalable SaaS businesses - Capital-efficient operations
Conclusion
Deepak Shenoy represents a unique breed of angel investors in India—ones who combine quantitative analysis with startup investing. His data-driven approach and focus on financial metrics make him an invaluable investor for startups that can demonstrate strong unit economics and clear paths to profitability.
For entrepreneurs, getting Deepak Shenoy as an investor means gaining not just capital, but also analytical rigor and financial discipline. His focus on metrics and data-driven decision making can help startups build more sustainable and profitable businesses.
At Janteera Ventures, we appreciate investors like Deepak Shenoy who bring analytical rigor to startup investing. His emphasis on unit economics and financial discipline aligns with our belief that the best companies are built on solid financial foundations and data-driven decisions.