LP Spotlight introduces you to the operators, investors and industry leaders who make up the Super Angel Network.
When Deepak Shahdadpuri founded DSG Consumer Partners in 2012, he put his home on the line to back the firmās first fund. The venture firm invests exclusively in consumer brands across India and Southeast Asia and now manages over $300M. It has backed more than 100 brands, including Sula Vineyards, Epigamia and Sleepy Owl.
Before founding DSG, Deepak co-founded and managed the Beacon India Private Equity Fund and worked at Reuters Venture Capital, Bain & Company and Ernst & Young.
Iām proud to have Deepak as a trusted LP in SuperAngel.Fund. In more than 25 years of investing in consumer brands, heās seen ideas take off in the U.S. and show up in Asia a few years later. Epigamia, for example, drew on Chobaniās Greek yogurt playbook for the Indian market. Thatās one reason he joined the fund: to get a front-row seat to what U.S. founders are building today and what might take hold in his markets next.
Connect with Deepak on LinkedIn, read Deepakās Musings and learn more about DSG Consumer Partners.
Hereās my Q&A with Deepak š
Tell us a little about your background and what youāre focused on today.
Deepak: I have been investing in consumer brands for over 25 years. Background wise, I read law at university, qualified as a Chartered Accountant with EY, earned an MBA from INSEAD and worked at EY, Bain & Company and Reuters VC before starting GEM India, the precursor to DSG Consumer Partners (DSGCP), which I founded in 2012 to back insurgent consumer brands across India and Southeast Asia. Since then we have backed 100+ brands across four funds, including Sula Vineyards, Epigamia, Veeba, Eazydiner, Moom, OYO and Sleepy Owl. Our thesis is simple. Insurgent brands will capture most of the new category growth in our markets, and incumbents will lose share. We believed it in 2012. Today the data backs it up. DSGCP is now raising out of DSGCP V. We have had our first close in June and have made three investments to date.
Whatās the āAnti-AI premium,ā and what does it mean for consumer brands?
Deepak: Right now I am spending a lot of time on what I call the Anti-AI premium. The more AI enters our lives, the more people will pay for things that are real: travel, dining, live music, anything IRL. I am rooting for the brands that actually want us to leave the house.
What motivated you to become an LP in SuperAngel.Fund?
Deepak: Pattern recognition. Most of what I see in consumer starts in the US and shows up in Asia a few years later. Epigamia was built on the Chobani Greek yogurt playbook. As an LP in SuperAngel, I get a front-row seat to what US founders are building in consumer today, which Indian and SEA founders will often be building tomorrow.
And I loved my first meeting with Ben and committed immediately. He is so passionate about the consumer.
What qualities do you look for in exceptional founders and business leaders?
Deepak: Obsession with the consumer. The best founders I have backed know their consumer better than anyone, and they never stop listening. We have two ears and one mouth, use them in that ratio.
Capital efficiency. Our data shows it takes $15-25 million to build a $100 million+ revenue insurgent brand. The founders who get there treat every dollar like it is their own.
Honesty. Everyone makes mistakes (yes, I have been doing this for over 20 years, and I still make tons of them). The exceptional ones admit it early, are clear on what they learnt, and change.
What advice would you give an entrepreneur starting a business today?
Deepak: It has never been easier to launch a brand. In the last three years we have seen hundreds of new brands flood India and SEA. Launching is not the hard part. Building a brand that lasts is.
So donāt raise too much too early. We learnt this the hard way in our early funds. Too much capital too early hides problems and kills discipline. The growth at all costs era is over. Get to profitability, or close to it, before you scale. Profitability gives you the resilience to survive a downturn and outlast competitors who canāt.
What is your favorite app or tool in your professional or personal life?
Deepak: Fantastical. My life runs across Singapore, India, Southeast Asia, Europe and the US, and it pulls every calendar into one place on my Mac and iPhone. Boring answer, but it keeps everything running.
What do you love doing outside of work?
Deepak: Travel and food, ideally somewhere that doesnāt feel touristy. Sports. Art. Music. And my kids, who are my best consumer research. Watching how they shop, eat and spend their time has changed my mind more than once.
Beyond venture capital, what types of investments or opportunities excite you most, and why?
Deepak: Anything that gets people off their screens. Experiential travel is one and this has led to our investments in Stay Vista, WanderOn and Eazydiner. Art is another. I was an early investor in Saffronart, Indiaās leading art auction house, and still sit on its board. Indian modern and contemporary art (Souza, Raza, Husain, Thukral & Tagra) has long been a passion of mine.
I am also watching GLP-1 drugs closely. As they go off-patent they could cost $1 a day in India, and that will reshape what people eat, drink and buy. Same with longevity. People are living longer, the silver generation has cash, and their needs are different. Very few brands are building for them.
SuperAngel.Fund is an early-stage venture capital fund led by Ben Zises that invests in Consumer, PropTech, & Future of Work š.
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