The Mirchandanis, better known for their home-grown business Mirc Electronics that manufactures the Onida Brand of electronics products, are entrepreneurs who understand what it takes to build a business and build a good one at that. The family, comprising Gulu Mirchandani, a first-generation entrepreneur and the chairman & MD of Mirc Electronics, and his sons – Sasha and Kaval Mirchandani, has been part of the growth story of a company that essentially started as an assembling unit for television.
Their factory, set up in 1982 at Andheri (Mumbai), gradually evolved into a multi-product company dominating the consumer durables and appliances sector. Now they are very active in the angel investing circuit.
Gulu and his two sons are part of the Mumbai Angel group. Sasha Mirchandani was in fact a co-founder of Mumbai Angels. He recently set up Kae Capital – an early-stage seed fund – which will invest in companies maximum of $250,000.. Till date, Sasha has made more than 20 investments. For him, angel investing is a passion for working with start-ups and he is deeply involved in the development of entrepreneurship in India.
Preferred Sectors: Technology, mobile and the Internet.
Preferred Location: Any.
Key Investments: Ignighter.com, Myntra.com, inMobi, Netelixir and Madhouse, Fractal Analytics and Algorhythm, among others.
Hits & Misses: Not disclosing any particular investment, Sasha Mirchandani has pointed out to a key learning that he has had during his long investing experience. “Never fall in love with the idea/business, fall in love with the entrepreneur,” he advises.