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The business world is an extraordinarily competitive and high-pressure environment. It takes a considerable amount of support, mentorship, and fortitude to survive and thrive in it.
As the pandemic brought societal changes, so too did expectations surrounding diversity initiatives and labor rights change. Encouragingly, there are advocates for change shaking up the investing landscape and driving purposeful and necessary change.
Anip Patel is a successful South Asian entrepreneur who is passionate about promoting diversity and inclusion in the business world. With his extensive finance, marketing, and economics background, he is committed to helping other South Asian dreamers, inventors, and entrepreneurs rise to the top.
Breaking free from the status quo
Patel’s venture capital firm, CaPatel Investments, provides resources and support for South Asian startups, including sourcing materials, curating designs, and investing in their creation.
It regularly invests in multiple sectors, from technology and film to healthcare, fashion, telecommunications, and entertainment. Patel truly embodies his ethos in regards to not only pushing for diversity in people investments but in sectors as well.
“Overall, initial investments from our firm are typically in the range of $50k-500k,” Patel explains. “Of course, more considerable funds can be provided to later-stage companies that outline and prove their economic stability and have annual revenue growth of 50% or more.”
Patel believes that promoting diversity is essential to driving economic growth in today’s society, which is why he is one of the leaders in the venture capital space, working hard to diversify the workforce and help others find their footing. The work that he has done in a variety of sectors has revealed a disturbing trend: the faces reflected back at him tend to be very homogenous.
Despite the glamorized portrayal of pitching to investors in shows like “Shark Tank,” the reality is that hidden societal barriers such as socioeconomic factors, gender, and race-based discrimination continue to affect communities of color and their advancement.
According to Forbes, capital decisions are still being made by a homogenous group of mostly white men. The truth of the matter is white men manage a staggering 93% of VC dollars, even though they only represent 30% of the general population.
“This lack of diversity in decision-making positions can create a systematic bias that prevents investors from recognizing and investing in the potential of diverse founders,” Patel says. However, research has shown that venture firms with at least one female founder generate 9.7% more profitable exits, suggesting that increasing the number of women and visible minorities in investment decision-making positions can have a significant impact on increasing funding for diversity.
New perspectives bring new ideas
In addition to founding several organizations that have had a significant impact on the South Asian community — including the first South Asian dating app that is inclusive of the LGBTQ+ community and a South Asian media platform aimed at increasing representation — Patel’s team provides funding and guidance to young entrepreneurs in areas such as marketing, strategy, sales, and financial support.
“Our mission is inspired largely by the impact of COVID-19 on the South Asian community,” Patel explains. “In the last several years, venture capitalists have made considerable returns on their investments, and the faces behind these investments do not signal the strides firms should be making to support communities of color.”
Patel is acutely aware of the underfunded and underrepresented startups that require resources and expertise to thrive. CaPatel Investments strives to bring support and guidance to young entrepreneurs who are just starting their journey, ensuring that they have access to the resources they need to succeed.
In addition to his work with CaPatel Investments, Patel hosts the largest South Asian dating convention, the Mohan Matchmaking Convention, which brings together a diverse group of eligible singles for networking and matchmaking. The Convention provides a platform for South Asian individuals to connect and build relationships.
The contribution of Patel and others like him in promoting diversity, inclusion, and success in the South Asian entrepreneurial community is crucial. It is a vital key to the future success of immigrant-led innovations in America, ensuring that everyone has the opportunity to succeed, regardless of their background.
Patel’s work is a shining example of what can be achieved when individuals unite to promote diversity and inclusion in the business world. Through his initiatives, Patel shows that the South Asian community has a lot to offer the business world and that promoting diversity is not just the right thing to do — it’s also the smart thing to do.
“By bringing new voices, ideas, and perspectives to the table, the business world can continue to evolve and grow, creating a better future for all,” Patel says.
According to Indian American Impact (IAI), Asian-owned businesses make up 10% of all companies in the United States and have the largest estimated receipts among minority groups across all sectors. Anip Patel aims to propel South Asian entrepreneurs to not only shoot for the stars but blaze a way forward that places diversity at the center of endeavors in the investing space.
— Anip Patel is an entrepreneur and investor who founded CaPatel Investments in 2022 with a mission to invest in and support start-ups founded by South Asians. He is passionate about finding and investing in companies that can provide value to South Asian entrepreneurs while delivering returns to investors. With experience founding companies in tech, healthcare, and entertainment, Anip invests across sectors and stages, with a particular interest in companies that are reinventing large industries.
