FAQs | Relentless VC

FAQs

What kind of startups do we back?

We back relentless founders. We look foremost for grit, for determination.

We only invest in startups that operate at the frontier of knowledge in their space. What you are doing must be something that few others have tried before. This is how we define the term "Technology". And we call startups that operate at the frontier of knowledge, "Tech Startups".

We only invest in startups that are fundamentally transforming how millions of people work and live their lives. So that, if such a startup succeeds, it will cause a fundamental change in society. We know that such a path has tremendous risk, but this is the risk that we are best structured to take - we bring to bear our network of founder angels to help you build this kind of a startup.

How much do you invest?

Our investment amount depends on which track you apply to:

Track 1: If you don't have a lead investor, we invest $125K for 5%
Track 2: If you already have a term sheet from a lead investor, we will follow the terms that are already set for the round, and invest between $100k to $300k

Does the investment amount come from many people, or a single fund?

With respect to the operational mechanics, Relentless VC is a single fund - all the money will be wired from a single account and we will take a single slot on your cap table.

What is your process?

You can apply for funding on our website: here.
You will hear back from us within 2 business days on whether we will proceed.
If we decide to proceed, you should expect two zoom meetings with us (sometimes if you are in Bangalore, we may meet in person as well. It is not necessary, though.)
We'll come back with a decision within 24 hours of the second meeting.

Do you give feedback if we are not selected?

Yes. If you get to the meeting stage, we will give feedback.

However, if we don't proceed forward from the application stage, it is usually because what you're doing is not a fit for our investment thesis - hence, it becomes very difficult for us to provide any more feedback than just telling you exactly this.

When do you usually seek exits?

We like to stay invested till the end of the founders' journey at either an IPO or an acquisition.

But we do have term limit commitments to our LPs, and rarely, these may necessitate us to seek an earlier exit; however, this is likely to play a role in less than 10% of our investments.

What do you look for in an investable startup?

Here is a high level summary of areas we focus on when evaluating a business:

Potential Market Size - at least $1 Bn Potential Market
GTM - Product Discovery & Distribution (Is there a proven channel / method to capture at least 10% of potential market in 5-7 years?)
Differentiation / Newness of the business model
Team - Mavericks, Misfits, and Exceptional People
Incumbent Response - why can't Incumbents respond, and Complements can't enter / won't win?
Defensibility - If you win in the market, is there a reason why competitors cannot displace you even if they are willing to lose money?
Competition - who are your competitors, and why will you beat them? What is the Market Penetration of your competitors?

Is there a certain stage that you like to invest in?

We prefer early-stage and very-early-stage startups.

What sectors do you usually invest in?

We are sector agnostic. But we like to back startups that are building something at the frontier of knowledge within their sectors.

You can look up our portfolio (here) to get a sense of the sectors that we have previously invested in.

Do you only fund tech startups?

Do I need to have a co-founder?

We like companies with more than one founder.

Founding journeys are hard, long, and lonely, and they become much easier to navigate when you have a partner. Having founders who have complementary skill sets significantly increases the odds of success in your favor, especially if you are a first-time founder.

If you are a repeat founder, having co-founders may not be as critical though.

In short, there are exceptions to this rule, and we have backed a few single-founder startups in the past.

Can I raise funds on just an idea?

Yes, of course. Track 1 is specifically designed for great founders who are just starting up with an idea and want guidance in their journey.

Does my startup need to be registered in India for you to consider an investment?

No. We invest globally. About 40% of our portfolio is global (startups that are registered outside India).

What is your mentorship process?

As soon as we invest in a startup (for both Track 1 and Track 2), we assign two Relentless Angels as mentors to your startup. Mentors are tech startup founders themselves, and specialize in helping startups unearth product-market-fit, build out the GTM machine, organization building, and fundraising for future rounds.

In the first 6 months after our investment, each mentor spends 30 minutes with a startup every fortnight. After 6 months, you can request mentors for their time as per you need. You also have access to our operating team to help you implement your mentors' advice.

What aspects of business can my mentors help me with?

Why should I take funding from Relentless VC?

All Relentless Angels are tech startup founders. So,

We understand how hard founder journeys can be, and how elusive product-market-fit can be. So, we know how to help you unearth your PMF. Many things will happen in your journey that you may not want to take to your board - you can bring those thorny issues to us without fear of conflict.
We have built multiple organizations before - setting up Sales, Operations, Customer Success, Support, Business Development, HR, Legal, Finance, and more. So, we know how to help you build your organization.
We have raised multiple rounds of Venture Capital, and have seen multiple exits. We regularly help our portfolio founders position and craft their pitch for subsequent raises, next round investor introductions, decoding feedback from a VC (which is often tough to decode for builders), and run strategic and M&A processes.

Can Relentless help me to do larger institutional rounds?

Yes. We specialize in helping our portfolio startups raise subsequent rounds.

Do I have to give additional equity to mentors?

No! We do not take any additional or advisory equity.

Turn around time

You will hear from us about next steps within 2 business days.

Apply Here