Alok Kejriwal to exit Games2win by 2015; To start his own fund Rodin Hood Venture Partners
Games2win has had a busy 2012 â€“ from roping in Tirath Kamdar to its board of advisors to Nirvana Venture acquiring 10 per cent stake in the company. But there is even more. Only last week, the company's mobile game Parking Frenzy became the top-ranked game in the US iTunes App store (as of now, it is No. 2) in both Free Games and Top Overall Apps categories â€“ a first for an Indian company.
But in spite of his achievements, Alok Kejriwal, the co-founder and CEO of Games2win, has decided to hang up his boots. Not right now, of course, but within the next three years. He has always supported startups (remember his post-Budget letter to the Finance Minister of India) and believes that once his investors get their money back, he can make an exit from the company he set up and don the cap of the mentor full time to help out entrepreneurs.
He is planning to launch a fund called Rodin Hood Venture Partners (still a working title) that he claims will be a fund for entrepreneurs â€“ but of what kind?
"I have had long discussions with both my mentors and the people in the industry, and everyone thinks that India is a khichdi (a mixture of everything) market. Because of that, I will definitely not restrict myself to being an incubator. Instead, it would be a combo of Paul Graham, Y Combinator and Ron Conway. We will take the best of everything and make something new of our own," said Kejriwal.
To start with, Contest2win, another company founded by Kejriwal, will be a part of the fund, along with the companies where he has put in money as an angel investor. The fund will support any technology company â€“ be it Cloud, Internet or mobile, but not just e-commerce.
"India is the land of digital tsunami in the sense everything happens here at the same time. But I feel that e-commerce is the laziest profession that entrepreneurs have chosen and they will get punished for it," he added.
But the fund will not focus on new and budding entrepreneurs alone. In fact, Kejriwal believes that by 2015, there will be a beautiful landscape of vulture and vampire deals. "There will be a buffet of deals in 2015," he asserted. So he would look at existing companies as well.
But why has he chosen the name Rodin Hood?
It's a combination of Rodin (the guy who sculpted The Thinker) and Robin Hood (the honest thief), and basically means 'to think and to do'. The thinking part we can understand, but what would he steal?
"There are some brilliant guys (successful entrepreneurs, investors) out there but no one gets to know their ideas because they are not media friendly. So I would actually bridge the gap and bring their knowledge to those who actually need them (the new entrepreneurs)."
Kejriwal will put in his own money for RHVP (he plans to make big money from the exit) and is not open to borrowing money from anyone. "I won't have any partner. As it will be my own money, at the end of the day, if I don't get returns, I don't have to be answerable to anyone."
But isn't that a risky proposition?
"What's an entrepreneur without risks," he signed off.