At BrilliantRead Media, we always strive to bring to our community some of the finest stories from the entrepreneurship world. As part of this endeavour, we invited a passionate entrepreneur – Prateek Tosniwal for an exclusive interview with us. Prateek is an Entrepreneur, Leader, Investor, Advisor, Consultant, Mentor and Change Enabler. He is the Co-Founder of Funding Possibilities. Let’s learn more about his inspiring journey, his background and his advice for our growing community!
Excerpts from our exclusive interview with Prateek:
We are aware of your contribution to the ecosystem, talk us through your background and your journey as an entrepreneur, please.
I am a revolutionary entrepreneur with a mission to mentor and build scalable and sustainable businesses, primarily in India, the Middle East, and Africa. Have been pursuing the evolution of startups in India since 2018 and have assisted multiple startups. I am a Chartered Accountant by profession, hold the degree of B.Com and B.Com Honors from Narsee Monjee Institute, Mumbai.
I had the privilege of working for KPMG for two years after graduation and then returned to Surat in 2017 to join his father’s Chartered Accountant practising firm and realized after six months that traditional practice was not for him. I was born to invest, network, advise, mentor, and build viable and extensible businesses.
My theory of putting skin into the game has made me stand apart from the crowd, and he proudly states that nothing comes free in life, so if you do not pay for it, you do not value it.”
I have personally invested in 28 companies and co-invested in over 75 companies, three of which are valued at $1 billion or more, and have had four successful exits. I am an advisor at IVY GROWTH ASSOCIATES, Surat’s fastest-growing angel network, and have syndicated investments totalling $10 million in 60+ startups.
In addition, I serve on the advisory boards of Toshniwal Ventures Pvt. Ltd. and Funding Possibilities. As a mentor, me along with my partners, will be launching a $30 million fund based in DIFC Dubai that will invest in startups around the world.
Over the next decade, I hope to have an impact on 500+ startup founders. I am driven by my passion to help entrepreneurs succeed, and believe that every entrepreneur can be their best self by being organized, reliable, and professional.”
I also have great expertise in the areas of confidentiality, financial planning, auditing, tax consulting, and analysis. It allows me to provide expert guidance on these skills as well as specific challenges that may occur throughout the process of developing a business strategy or establishing an accounting system.
Although currently an incredibly sought-after financial advisor, the beginning of my professional journey was rocky. Clients were slow to realise my diligence, and business was slow. However, I was blessed with a supportive family who continued to believe in me even in distressing times. They constantly reminded me that nothing could be gainfully earned without a balanced investment of risk. This for me was the biggest lesson learnt in my 20s.
I am a passionate sportsperson who loves to play cricket and basketball. “I believe failure is not the opposite of success; it’s a journey towards your success.”
How do you assist individuals and Startups in their growth?
I wanted my outlook to be the unique selling point of the brand. I have thus been personally involved with all his clients/startups in their investment aspirations, whether they be individuals navigating personal finance or start-ups trying to raise money for their projects.
Like most good investment advisors, my approach to the subject is holistic. In terms of start-ups, it involves initial handholding, evaluation and investment, as well as project finance. In terms of individual investment plans, my focus is on integrity and ethics over short-term gains.
Why did you leave your high-paying job to start your own brand? What is the key differentiator of your brand?
Entering the professional world in the heat of continued recession times, I knew that the era of a single well-paying job to sustain a standard lifestyle while saving up for retirement was over.
I was in a respectable and high salaried profession. A registered Chartered Accountant i.e one of the most sought after jobs today, with a continuous demand, and revenue flow. But the economic structure of the world had undergone a sea change, and I knew I needed to evolve with it in order to create a sustainable source of income.”
Thus I began looking into investment opportunities. In that pursuit I was brought face to face with the confusion of a generation of educated young professionals, fumbling with the dissatisfactory returns on their work. I had surveyed the market well and had developed a keen understanding of its machinations. I was in the premiere position to advise people on how best to build their investment portfolio, and to that effect, launched my business venture and brand.
Talk us through your achievements and accolades in the journey so far?
I am now a renowned personality in the world of finance and investment advice. My work and achievements have been covered by multiple media outlets like Your Story, Business World, Business Standard, Times of India, Economic Times etc.
I have won prestigious awards like
40 under 40 Times of India Award,
Indian Icon Award, and
Indian Entrepreneur Award.
At a professional level, I have been working as an advisor with IVY Growth Associates, micro venture capital and angel investment community with over 300 investors in its loop. Through it, I have been able to impact up-and-coming start-ups in sectors like edtech, fintech, SAAS, agri-tech etc.
What’s your investment philosophy?
My personal philosophy, as reiterated in multiple interviews and press releases, is to make money while asleep in order to avoid working till death. And to literally put my money where my mouth is.
I have invested in more than 30 start ups, and partnered with successful venture capital firms like Incubator, Accelerator, Angel Network, Micro Funds, AIF Fund, Investment Banking Firm.”
While my aim is to increase the sphere of impact to 500+ companies over the next decade, I’m not just focused on finances and work. Like most intelligent professionals, I know the value of leisure and invest in travelling extensively, having already visited 8 countries. I am also an adventure sports enthusiast, being an accomplished scuba and skydiver.
To me, financial independence is a gateway to happy living, enriched by the presence of friends and family. While I am aiming to create sustainable financial plans as a professional, personally my aim is to build sustainable relationships as the basis of my life.
BrilliantRead is committed to bringing stories from the startup ecosystem, stories that reshape our perspective, add value to our community and be a constant source of motivation not just for our community but also for the whole ecosystem of entrepreneurs and aspiring individuals.
Note: If you have a similar story to share with our audience and would like to be featured on our online magazine, then please write to us at [email protected], we will review your story and extend an invitation to feature if it is worth publishing.
