Introducing Akriti Dokania
I tracked down Akriti for a chat because her background took her across big tech and startups, working in 3 continents, and being on both sides of the table.
Her career evolved from a Microsoft insider to a founder and then as an investor in both Europe and now America. She brings a deep understanding of the tech landscape and a founder's heart to her investment strategy, focusing on nurturing technology-first companies from seed to Series A.
In this Silicon Jungle Chronicles session, Akriti shares her insights on the essence of strategic investment, the emotional journey of entrepreneurship, and the art of fostering relationships that propel startups to new heights.
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CheeTung: Akriti, what does your role entail at Ridge Ventures, and how do you approach investment?
Akriti: As a partner at Ridge, my world revolves around seed and Series A investments in enterprise-focused tech companies. We're committed to our portfolio companies to an extent that's practically unheard of. Our term sheets come with a promise—a certain number of customer introductions that we guarantee to our investees. If we fail to deliver, we lose our board seat.
This level of accountability ensures that we don't just invest capital; we invest our resources and networks. Our team, including CXOs from top Fortune 500 companies, stands behind this commitment, driving early customer introductions that are vital for our companies' growth and a testament to our faith in their potential.
Nurturing networks and delivering promises
CheeTung: That's a significant pledge. How do you maintain such a robust network?
Akriti: Our network of over 330 CXOs isn't a static list; it's a dynamic, living community. The partners at Ridge, who hail from varied and rich backgrounds, lead the charge in nurturing these connections.
With partners bringing experiences from Pure Storage, Qualys, and Automation Anywhere, among others, we've built and maintained this network through consistent, high-touch interactions. We organize dinners, exchanges, and conferences, engaging with these executives up to 17 times a year, not to extract value but to offer it, to share insights, and to bring them the cutting edge of technology. This approach has cultivated trust and a mutual understanding that when Ridge introduces a company, it's worth their attention.
CheeTung: Could you share a success story born from these introductions?
Akriti: One of our portfolio companies can speak to the power of this approach. We promised 20 customer introductions; we delivered 43. It's not just about the number—it's about the quality and the strategic fit of these introductions. One of them culminated in the company’s largest deal, propelling them from Series A to B, a tangible result of our hands-on investment approach.
Founders need to build a circle of champions
CheeTung: Reflecting on your founder experience, what are some of your key takeaways?
Akriti: Founding a company is a profoundly emotional experience—it's not merely a job; it's akin to raising a child. The emotional investment, the grey areas, the personal sacrifices, and triumphs—these are aspects I lived through and now bring to my role as an investor. This empathy allows me to connect with founders on a deeper level. I particularly resonate with those who have something to prove, not just to the world but to themselves. This journey of proving and improving is one I've committed to supporting.
CheeTung: The role of cheerleaders seems crucial. Can you expand on that?
Akriti: Absolutely. Throughout my journey, I've realized the significant impact of having cheerleaders—the kind that support you no matter what. They are the ones who bolster your resolve to continue when times get tough. Having experienced both sides, I've learned that it's not just about having people who challenge you; it's equally about having those who unconditionally back you. This realization came to me later in my career, but it's something I now prioritize for the founders I invest in.
CheeTung: Is attracting cheerleaders something founders can influence?
Akriti: Founders often shoulder immense pressure, and it's easy to overlook the need for a supportive circle. It's not merely serendipity; it's a conscious effort to seek out and build relationships with people who will stand by you. It's a blend of vulnerability, humility, and strategy, and while it's not an exact science, the pursuit is essential. A founder needs to actively create space for these relationships, which can profoundly affect their resilience and risk appetite.
CheeTung: What would drive a cheerleader in the startup ecosystem? What’s in it for them?
Akriti: It's a mix of mentorship, the thrill of enabling success, and a shared passion for innovation. Speaking for myself, I'm drawn to backing individuals who are driven by a purpose, a personal mission that's larger than themselves. It's about supporting those who dare to challenge the status quo, who have the audacity to believe in a different future. This passion, this unwavering belief in potential, is what fuels my commitment as a cheerleader in their journeys.
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The emotional side of startup investing
CheeTung: How does the emotional aspect influence your investment decisions?
Akriti: Emotions play a subtle yet significant role in investment decisions. Especially at the early stages, it's as much about the person or team as it is about the product or market potential. There's a certain intuition involved in recognizing a founder's passion and potential that goes beyond spreadsheets and market analysis. It's an emotional commitment to the founder's vision, understanding that building a company is a deeply personal endeavor.
CheeTung: Do you see differences in how investments are approached in the US versus Europe?
Akriti: The variance in founder ambition and investor risk appetite between the US and Europe is stark. It's shaped by each region's market dynamics and success narratives. In the US, the history of outsized returns and success stories feeds into a more ambitious and risk-tolerant ecosystem. In Europe, while the ambition is present, the market is still maturing in terms of historical data points that instill confidence in both founders and investors.
CheeTung: What advice would you give international founders looking to enter the US market?
Akriti: Founders must embody both intent and action. If your target market is the US, it's essential to be physically present to grasp the nuances of business culture and communication styles. The differences can be subtle but are crucial in understanding and connecting with customers, partners, and the market at large. Founders should be prepared to move at seed or Series A stages to align closely with their market and maximize their potential for success.
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Huge thanks, Akriti, for taking the time to share your experiences!
Which of her insights resonated with you most?
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