In a recent chat with Indian Startup Times, Dhruv Dhanraj Bahl, Managing Partner at Sadev Ventures, shared his interesting journey from healthcare to venture capital. He spoke about his investment philosophy, how he got into this field, and his thoughts on India’s startup scene.
Dhruv has a rich background. He managed healthcare operations at Fortis Healthcare and later consulted with Bain & Company. He also held leadership roles at Paytm and BharatPe. This blend of experience helped him create Sadev Ventures, a ₹240 crore fund that invests ₹50-60 crores every year in promising startups.
So far, Sadev has backed 20 companies, with several follow-on investments already made. Dhruv describes Sadev as a fund “by founders, for founders.” The goal? To support entrepreneurs who show real strength and dedication. After evolving from his family office, Eternal Capital, he rebranded to embrace a more distinctly Indian identity—reflecting what he calls the “Bharat attitude.”
“We raised over ₹100 crores in just one week,” he noted, highlighting the trust of key investors like Deep Kalra, the founder of MakeMyTrip. The focus is not just on funding but also on making a lasting impact.
Investment Philosophy
Dhruv looks for founders with 5-10 years of experience, particularly those have faced challenges and come out stronger. “We want purposeful and grounded founders,” he explained. For him, emotional intelligence and the ability to learn from setbacks are as important as having a strong business idea.
Sadev is careful about who it invests in, steering clear of those chasing unproven ideas. Instead, they team up with founders who have already turned their concepts into successful ventures.
The Indian Startup Shift
Dhruv discussed how India’s startup scene has evolved. We’ve moved past a phase of copying other countries’ models, which he refers to as the “Attack of the Clones.” Now, innovation is on the rise. “Between 2017 and 2018, platforms like UPI and Aadhaar helped shape an enabling ecosystem,” he noted. “By 2025-27, India could be exporting its startup models globally.”
He stressed the importance of capital efficiency and problem clarity for future success. The companies that can adapt, endure, or pivot will likely lead the market.
Portfolio Highlight
One standout investment for Sadev is Gladful, a food brand focused on healthy options for kids aged 2-12. Since Sadev’s investment, Gladful has tripled its sales, now reaching over 250,000 parents monthly. “The founders identified a nutritional gap and built trust through their offerings,” Dhruv said. Gladful plans to expand into new categories, like protein powders and gummies.
Mentorship and Support
For Dhruv, investing is just the start. Sadev Ventures goes beyond financial backing, providing mentorship in hiring, fundraising, and strategic choices. “We tailor our support based on how much help a founder wants,” he shared. Building a deep, trust-based relationship is key. “Our bonds often outlive the company’s journey.”
Advice for Future Entrepreneurs
As a final thought, Dhruv shared some wisdom for emerging entrepreneurs: “Be clear, humble, and patient. Understand your problem deeply and be persistent.” He likened entrepreneurship to a marathon, emphasizing that lasting success takes time and consistent effort.
The Future
Looking forward, Dhruv’s approach—grounded in experience, empathy, and purpose-driven funding—serves as a guide for what lies ahead. Under his leadership, Sadev Ventures continues to support founders who embody resilience and innovation in solving significant challenges.
For additional insights on venture capital trends, consider exploring reports from authoritative sources like the National Investment Promotion and Facilitation Agency and NASSCOM.
