|Venture Fund Member Profile
Our seed program is designed to let us capture bold out-of-the-box capital-efficient ideas with large outcome potential.
These days it’s clear that there’s a large category of businesses that just don’t need large piles of money to discover whether they are going to work. Startups in the Internet space in particular require dramatically less capital to launch and test traction or distribution.
A successful company of this kind often only raises two rounds: a seed round, and a post-traction expansion round.
Picking winning ideas at these pre-natal stages is usually next to impossible via conventional analysis (for founders and investors, both) because the success factors are often subtle, cultural, and unpredictable.
Thus a several-million dollar “traditional” Series A is often “no man’s land.” For such companies, we wish to invest either earlier than traditional Series A, or wait until later (post-traction).
With each seed investment we wish to prove or disprove something important with a small amount of money.
Salil is General Partner at Bay, and focuses on areas in which he has operating experience and thus some intuition.
During his years as an irreverent entrepreneur, he often wondered what went on "in those little VC brains." Therefore as a venture investor, he tries to be honest and transparent about what he is trying to accomplish, respects entrepreneurs' time by working hard, doing his homework, and openly discussing the merits of ideas, teams or strategies, not only as a means of active learning, but as a foundation for long term relationships.
In addition to traditional early stage venture investments, Salil is leading Bay's Seed Program, a fast-track process for investing $250K-$750K in bold out-of-the-box capital-efficient ideas, and Bay's AppFactory,a specialization of the Seed Program, which invests in applications and services atop social graphs, such as the Facebook platform.
Salil has led Bay's investments in DynaTrace (continuous performance management for enterprise apps), Buddy Media (Facebook apps as ad units), SpringSource (open source; acquired by VMware), G2One (open source; acquired by SpringSource), LendingClub.com (peer to peer marketplace for loans), Jambool (virtual currencies and payments), Finestrella (unsecured credit to unbanked Mexican households), Cake Financial (social network and analytics for stock market investors; acquired by E*Trade), Marketocracy (wisdom of crowds applied to money management), Financial Content (syndicated financial content), Triggit (real-time bidding across ad exchanges), FantasyBook (on-Facebook fantasy sports apps; acquired by Citizen Sports), and Vaxart (flu vaccines).
Prior to Bay, Salil was founder and CEO of Customware, a CORBA services company (acquired by Visigenic, now part of Borland), co-founder and CEO of The Middleware Company (acquired by Precise, now part of Symantec), and of TheServerSide.com network of social media sites (acquired by TechTarget). Salil has also held technical leadership positions at several technology companies including Sun Microsystems, taught summer courses at Stanford University, and has been an advisor to several internet community businesses.
||dynaTrace provides software for continuous performance management for business-critical Java and .NET applications. dynaTrace's PurePath Technology®, is the only solution that captures data on all individual transactions down to code level by tracing their "PurePath" across multiple physical and logical tiers - even 24x7 under load in production - enabling customers to move beyond monitoring to diagnosis and prevention. In each application lifecycle stage - development, QA, staging, production - IT personnel now can see and understand exactly where and why performance issues exist. With dynaTrace, enterprises gain better understanding of their applications' dynamic behavior and how it impacts their business, allowing them to rapidly reconstruct problems to identify the root-causes and fix them.|
||Finestrella There is a large productive wage-earning population in Mexico, a large portion of which is unbanked, and has no access to unsecured consumer credit (credit cards, etc.). There exists an opportunity to make unsecured micro-loans to this population, distributed via point-of-sale locations such as mobile phone stores where the vast majority of transactions (including phones, minutes, etc.) are currently done in cash. |
||Marketocracy Data Services is a research company whose mission is to find the best investors in the world and then track, analyze, and evaluate their trading activity. The company's affiliate, Marketocracy Capital Management, is the investment advisor for the Marketocracy family of mutual funds and uses the research generated by Marketocracy Data Services.|
||Sonatype provides a development infrastructure platform based on the Apache Maven project. Although many software development methodologies exist, when it comes to instructions used to construct, assemble, test, and deploy software in practice most systems are a set of ad-hoc tools and processes with no standardization, incurring very high costs.|
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|Venture Fund Member Profile|