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Some may produce a startup, and others build belief. Behind every Herculean idea, there is someone who chose to bet on themselves, not on a product or a market. Not when it was obvious, but when it was tough, when everyone else said it wouldn't work. Because the truth is, building anything meaningful demands more than just strategy: It demands relentless energy along with possessing that sixth sense for spotting real issues, plus the kind of conviction that doesn't clock out by 6. It's far beyond just the business—it's about the former persons behind it.
Welcome to Crafting Bharat: The Founders’ Files, which takes you through the trials in the early times, bold networking moves, and the deepening trust issues between founders and investors. In an interesting conversation with the CEO of FAAD Capital, Aditya Arora, Pawan Raj Kumar, the Co-Founder of ZeCa Ventures, dives down hard on what constitutes bold bets, challenging obviousness, and backing the founder before the idea.
This series is proudly brought to you by NewsReach, India’s premier PR tech platform, with Association Partner Innovations Ventures Studio and FAAD, Insurance Partner Beacon Insurance, Venue Partner Ofis Square, Production Partner HT Smartcast, and other partners Garudauv Soft, Rapido, RFL, Centrum, Matrix Moon, Tiranga Autotech India. Tune in for stories, insights, and inspiration!
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Watch episode: https://youtu.be/2mNBPqa1cq8?si=O71YOgpFLdloe79u
Edited Excerpts:
What was the turning point in your entrepreneurial journey?
Pawan Raj Kumar: A major turning point would be when I joined my family business of setting up commercial kitchens. It was traditional, rigid—and frankly, outdated. But I saw an opportunity as brands like McDonald’s and KFC were just entering India. In fact, people said all kinds of blah, like 'yeh nahin hoga, yeh nahi chalega' (this won't work; this won't run), including my father. But I saw it otherwise.
I took the risk. I hired my own people. Set up our factory, took loans. And for 18 years, we were the sole suppliers to McDonald's in India. We thus became the only Asian company in the world to be given approval by McDonald’s.
Well, as I say: Not everyone can do every type of business! One has to feel the fit.
What would be the biggest difference between an investor and an entrepreneur?
Pawan Raj Kumar: Now there is a really big difference. The day off for the investors is really not something that attracts attention. For the entrepreneur, it is unforgivable if you are away for two days. All is relentlessness.
“The meaning of being a founder is being on a relentless journey, and it should be.”
That pressure, that hustle, gives you the grounding. You cannot fake it.
Does IIT really matter in building a startup?
Pawan Raj Kumar: It opens doors, no doubt. Forty percent of unicorn founders in India are IIT Delhi alumni. That is a very big number. I always say 'IIT has not tmade them a founder, but they did it on their own strength.
Now the true edge IIT brings you, at least in my experience, is not merely the tag or the alumni network. It is the mindset it builds. One of the things we were always doing at IIT was trying to identify the problem. That was our real superpower.
At times, people find themselves lost in wondering what the problem really is? But at IIT, we were wired to find it. Once you see the problem clearly, the solution comes easy to you. That skill of perceiving what others miss is what separates a founder from one who is great, and it's something IIT taught me very well.
What are your investment philosophies over sectors?
Pawan Raj Kumar: I bet on people. Could be SaaS; could be sustainability. It really depends more on the founder than the sector. At an early stage, there is actually nothing to hold on to -- I would say 75 per cent of my decisions are influenced by whether the founder fits into the business well.
A restaurant founder must be obsessed with serving people. If you cannot smile after being yelled at by customers, you are going to die standing there.
"Founder-market fit is as real as product-market fit.”
What gave birth to ZeCa as a sustainable investment house?
Pawan Raj Kumar: Sustainability has always been near and dear to my heart. I am the type of fellow who avoids taking the lift and instead just walks. While working with clothes, I do not press them unless heavily required. Such could be just little things, but they form an attitude.
They said, 'Don't get into climate tech; there's no money.' That made me want to do it more. This was when no one was looking to do it, and I wanted to be there because I saw the timing was right -- policy, capital, awareness -- all aligned.
This is something I carry through my life, be it business or running or cycling.
If you had a chance to give a movie title to any stage of your entrepreneurial journey, what would it be?
Pawan Raj kumar: 'Zindagi Na Milegi Dobara'.
Not only about startups, this was really an episode speaking to that grit and gut that come with betting on oneself. The story could either be one of reshaping a family business or daring to back climate ventures; the message was the same: the founder is the spirit that carries them through. Keep an eye out for the next episode that will be sharing more stories of bold bets and of their holders.
Brought to you by NewsReach—India's leading PR-tech platform, in association with Innovations Ventures Studio and FAAD and our production partner HT Smartcast and other partners Garudauv Soft, Rapido, RFL, Centrum, Matrix Moon, Tiranga Autotech India.
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