002 How Sheel Mohnot raised $320M+ to invest in the Future of Fintech with Better Tomorrow Ventures, feat. Amruta Godbole

How does Sheel’s partnership with co-founder Jake at Better Tomorrow Ventures demonstrate the importance of complementary skills in building a successful venture capital firm?

In this episode, Sheel Manot, founder of Better Tomorrow Ventures (BTV), and his wife, Amruta Godbole, discuss the intricacies of fundraising, both for startups and venture capital funds. Sheel emphasizes the importance of persistence, grit, and speed in navigating the challenging landscape of fundraising, sharing his personal experience of funding 500 Fintech from his own pocket before securing external capital. 

Sheel also highlights the value of strategic partnerships and team dynamics, particularly within his firm. The episode covers the evolution of the FinTech space, touching on its rise and fall in popularity, and how investors like BTV are adapting to market shifts while still focusing on businesses with long-term profit potential.

Here the main topics discussed in the episode:

• The importance of grit and persistence in fundraising: Sheel emphasized that both founders and VCs need persistence, often facing numerous rejections before success.
• The role of The Mint accelerator in helping FinTech companies: The Mint provides specialized support for early-stage FinTech startups, helping them navigate unique challenges in financial services.
• Adjusting investment strategies as FinTech trends change: With FinTech falling in and out of favor, BTV has adapted by investing in companies targeting broader markets, such as banks and e-commerce.
• The challenges and rewards of founding and funding 500 Fintech: Sheel personally funded investments before raising external capital, showing the importance of conviction and sacrifice in starting a fund.
• Team dynamics and partnerships in building a successful VC firm: Sheel highlighted how complementary partnerships, like the one with his co-founder Jake, are essential for long-term success.

Connect with Sheel: https://www.linkedin.com/in/smohnot

Connect with Amruta: https://www.linkedin.com/in/amruta-godbole/

Connect with host Neil Devani: https://www.linkedin.com/in/neildevani/

For more information on Necessary Ventures, visit the website at: https://www.necessary.vc/

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