100 Young Achievers In Business Who Symbolise India Tomorrow

Young Achievers In Business Who Symbolise India Tomorrow

FUNDING FATHER

RITESH MALIK, 32

Founder, Innov8 and Project Guerrilla, Delhi

Life would have been very different for Ritesh Malik had he opted to follow in his parents’ footsteps and remained a medical professional. (His father, Ravi, is one of the most sought-after paediatricians in New Delhi, while his mother is a reputed gynaecologist.) A graduate of Tamil Nadu’s Dr M.G.R. Medical University, Ritesh decided his focus would instead be on supporting innovators.

As an angel investor, he has funded firms in healthcare, technology, education and energy, also building an enabling ecosystem via his co-working space, Innov8. Beyond just equity investments, Ritesh has also been putting his management expertise to work to support these businesses. Eight years after setting up his first firm, he has funded more than 80 startups via Project Guerrilla. It all began with his augmented reality start-up, Adstuck, which created a product called Alive App that was later acquired by Bennett & Coleman. Today, Ritesh remains the CEO of Innov8, though he, along with other investors in the firm, such as Paytm’s Vijay Shekhar Sharma and Sequoia Capital’s Rajan Anandan, sold their stakes when OYO bought the firm for Rs 220 crore. —Anilesh S. Mahajan

MEDICINE’S LOSS, START-UPS’ GAIN