India’s entrepreneurial ecosystem is expanding rapidly, but access to capital, networks, mentorship, and strategic guidance remains uneven. Many promising founders have the ambition to build large and sustainable businesses but lack the ecosystem support required to move from an idea to scale. Growth91, co-founded by Sanjay Chouthamal Sarda and Jimish Kapadia, aims to address this gap by connecting entrepreneurs with capital, investors, expertise, and long-term business support. The platform forms part of a broader ecosystem that includes Growth91, the Growth Sense Venture Fund, the Growth Sense Apex Fund, and direct involvement in selected ventures.

In a conversation with Indian Startup Times, Sanjay Chouthamal Sarda discussed his entrepreneurial journey, the principles behind Growth91, the importance of disciplined capital allocation, and his vision for building stronger connections between Indian businesses and global markets.

The Meaning Behind Growth91

The name Growth91 reflects the company’s central purpose. “Growth” represents the organisation’s focus on helping businesses develop sustainably, while “91” refers to India’s international country calling code, +91. “We wanted the brand to have an unmistakable connection with India and, at the same time, reflect our ambition to build something that can connect Indian businesses with a much wider ecosystem.” For Sanjay, the name represents the belief that India has a deep pool of entrepreneurial talent. With the right capital, mentoring, networks, and opportunities, many businesses can grow considerably beyond their current limits. Growth91 is therefore positioned not merely as a platform but as a bridge between Indian entrepreneurs and the wider investment ecosystem.

Building a Process, Not Just a Business

Sanjay’s professional background spans business strategy, project management, operations, consulting, and process optimisation. These experiences shaped the first principles he applied while building Growth91. The first was to build a process rather than allow the organisation to become dependent on individuals. Systems, documentation, and repeatable workflows were considered essential for long-term growth. The second principle was clarity of purpose. Every activity should create value for at least one of three stakeholders: the entrepreneur, the investor, or the wider ecosystem. Financial discipline formed the third principle. Growth, he believes, must be supported by financial understanding. “Growth is important, but growth without financial understanding can become a very expensive exercise.” The fourth principle was transparency. In the investment ecosystem, trust cannot be created through communication alone. It must be built into how opportunities are evaluated, how relationships are managed, and how capital is deployed. As Growth91 and Growth Sense evolved, another principle became central: capital should follow conviction, but conviction must be supported by diligence and experience.

Beyond a Fundraising Platform

Sanjay did not want Growth91 to become another platform where startups and investors simply meet. His broader objective was to create an ecosystem around growth. Founders need more than capital. They may also need customer access, strategic advice, leadership support, governance, hiring assistance, and help preparing for future rounds of funding. Investors, meanwhile, need more than a pitch deck. They need visibility into the business, the market, the founder, and the risks involved. This thinking led to the development of a wider structure:

• Growth91 creates connections between startups and investors.
• Growth Sense Venture Fund participates in early-stage opportunities.
• Growth Sense Apex Fund, a ₹1,000-crore fund, focuses on growth-stage and pre-IPO opportunities.
• Direct involvement in selected ventures allows the team to participate in building companies alongside founders.
  “We do not believe our relationship with entrepreneurship should begin and end with an investment cheque.”

The approach is designed to support companies across different stages of their development.

An Entrepreneur by Mindset

Although Sanjay has spent much of his career in corporate and consulting environments, he does not describe his move to Growth91 as a conventional transition from employment to entrepreneurship. He says he began his entrepreneurial journey at the age of six and continued to approach every professional responsibility with an owner’s mindset. “Whether I was associated with a small or large corporate or managing consulting engagements, I considered myself an owner or entrepreneur with total responsibility.” The difference, he explains, is that working within an established organisation involves operating inside existing systems, while entrepreneurship requires creating an entirely new environment of systems, people, and processes. His experience of building new structures throughout his career helped prepare him for this challenge. However, entrepreneurship also reinforced the importance of humility. A strong idea alone is not enough. Timing, execution, people, market conditions, and the ability to adapt all influence the outcome. “Experience is useful only when you are willing to keep learning.”

Building the Foundation Carefully

Growth91 was established with a practical approach to capital allocation. The early objective was not to spend heavily on appearances but to build the foundation of the business. Capital was directed towards:

• Technology and operating infrastructure.
• Ecosystem development.
• Evaluation and opportunity-management processes.
• Investor and entrepreneur outreach.
• Building long-term organisational capabilities.

Sanjay and Jimish Kapadia were clear that Growth91 needed to be built as a trusted bridge between entrepreneurs and capital, not merely as a transaction platform. “Every rupee should either help you build the product, improve the process, acquire the right customer, or create a long-term capability.” For Sanjay, capital is important, but conviction in the model and the ability to build a meaningful connection between capital and opportunity matter even more during the early stages.

Raising Seed Capital

Growth91 has raised approximately $200,000 in a seed round. Sanjay believes early-stage fundraising is ultimately based on conviction and credibility. Investors are not investing only in a business plan. They are also evaluating the founders’ understanding of the problem, their experience, their ability to execute, and their willingness to build alongside entrepreneurs. “Our professional experience helped us establish credibility, but we also wanted to demonstrate through our actions that we were willing to build alongside the entrepreneurs.” The company’s fundraising journey has evolved alongside its business model. It began as a platform connecting startups and investors and has grown into a wider ecosystem that includes institutional investment vehicles and direct venture-building activity.

Financial Discipline and Decision-Making

Sanjay’s experience with financial statements, business strategy, negotiation, and data-driven decision-making influences how he manages Growth91 and evaluates opportunities. Financial statements explain what has happened. Business understanding helps explain why it happened. Strategic judgement is then required to decide what should happen next. He also views negotiation as an exercise in understanding the interests of all stakeholders rather than trying to win every conversation. “I have always tried to combine data with judgement rather than treating either one as sufficient on its own.” This perspective is especially important in investment businesses. Numbers provide valuable information, but they do not explain everything. Investors must also assess the promoter, market conditions, competitive landscape, execution capability, and potential risks beyond the financial statements.

Building Credibility Through Execution

Growth91 has focused on building credibility through relationships and consistent execution. The team remains actively involved in the startup ecosystem by meeting founders, engaging with investors, participating in events, and developing relationships with people who share its belief in entrepreneurship. However, Sanjay believes awareness without credibility is temporary. Trust is built by honouring commitments, maintaining professional processes, and treating both entrepreneurs and investors with seriousness. “Over time, every successful interaction becomes part of the brand.” The company also seeks to demonstrate its credibility through direct involvement in the businesses it supports. One example is INVIdata, an early-stage deep-tech cybersecurity venture that Growth91 helped co-create alongside its founder. The venture focuses on protecting sensitive data through an innovative approach to data storage and security. For Sanjay, INVIdata reflects the belief that promising ideas can become meaningful businesses when supported by the right expertise, resources, and strategic direction. The establishment of investment vehicles across Category I and Category II structures has further helped Growth91 create a more organised ecosystem for businesses at different stages.

Connecting India with Global Markets

Sanjay’s experience across India and the United States has shown him that business cultures may differ, but the fundamentals of entrepreneurship remain similar. Strong businesses solve genuine problems, create value, and build capable teams. India is increasingly connected to global capital, markets, talent, and technology. Growth91 aims to strengthen these connections by helping Indian entrepreneurs access international networks and opportunities. “Our ambition is not restricted to creating another Indian investment platform. We would like to build stronger bridges between Indian entrepreneurs and global capital, networks, and markets.” The company’s broader ecosystem is intended to support entrepreneurs from an early-stage idea through institutional funding, growth capital, and eventually larger investment opportunities. However, Sanjay prefers a measured approach to expansion. “Depth before geography, and quality before scale is the approach I would prefer.”

Building Sustainable Businesses

The larger impact Sanjay wants to create is an ecosystem where good entrepreneurs do not struggle simply because they lack capital, networks, experience, or guidance. India has no shortage of entrepreneurial ambition. The challenge is to convert more of that ambition into sustainable, valuable businesses. Through Growth91 and Growth Sense, Sanjay wants to participate in entrepreneurial journeys at multiple stages from early ideas to institutional funding, growth-stage expansion, and pre-IPO opportunities. He credits his co-founder, Jimish Kapadia, as an important partner in building the ecosystem. Such a model requires different perspectives, complementary strengths, and shared conviction.

Advice for Entrepreneurs

After more than three decades of professional experience, Sanjay’s advice to entrepreneurs is grounded in fundamentals. Founders should understand their customers, know their numbers, build the right team, and avoid compromising on core principles. Commitment to the business must be complete. He also believes entrepreneurs should not become overly focused on rapid growth, high valuations, or overnight success. Sustainable companies are usually built quietly through one customer, one process, one relationship, and one decision at a time. “The destination should remain the same, but the route may change.” For Sanjay Chouthamal Sarda, adaptability is as important as the original idea. Entrepreneurs must be willing to change their approach while remaining clear about the problem they are trying to solve.

Growth91’s long-term philosophy is built around that balance: ambition supported by discipline, capital supported by diligence, and growth supported by genuine value creation.

Interview By: Sejal Thakur