Santhosh Devati knows a little bit about making the American Dream come true.
Devati immigrated to America in 1999, and started the 21st Century as a serial entrepreneur focusing on data logistics. With a degree in engineering and a master’s of business administration, his skills fit the goal of creating data analytics technology solutions for everyone from Ralph Lauren and Calvin Klein to the Federal Home Loan Bank of Seatle.
By 2018, he had transitioned to being a full-time investor, specializing in support for female founders. His firm is called Anamika Ventures.
“I guess you can blame my daughter,” Devati said. “She’s 14, and she convinced me that women could thrive as entrepreneurs with some help.”
Fundamental Beliefs
Devati describes himself as a dreamer, problem solver and a serial entrepreneur. He said he is guided by three core beliefs:
- We can do more together, than we can as individuals.
- Business and sense of purpose are not mutually exclusive.
- Abundance should be continually recycled to keep it flowing back to you.
Those core values led to a passion for mentoring more than 200 business owners, startups, entrepreneurs and professionals. He became a certified business mentor at the well-respected SCORE Los Angeles, joined the SoCal Society of Information Management and became a circle member of the Los Angeles Chamber of Commerce.
“These days in particular, founders all have one issue – how to stay in business,” Devati said. “They need to create funds. I work at finding ways to get them in touch with investors that make sense.”
Long Beach Connection
Devati lives in Studio City with his wife of 18 years and their daughter. But he became a board member of the Long Beach Accelerator within a year of the organization’s formation in 2020. He’s been on the board through all six cohorts and has served as treasurer.
“I really enjoy that experience of helping people figure out how to go from A to B,” Devati said. “And when you are an investor, you’re really helping yourself at the same time.”
With his experience as both an entrepreneur and an investor, Devati is in high demand for mentorships and to speak on panels. He was part of the first Long Beach Investors and Founders Summit earlier this year.
Changing Environment
2023 wasn’t a good year for venture capital as a whole, much less for early-stage venture capital. According to PitchBook’s final report for 2023, Deal value for the year globally was less than 50% of the total from 2021, and global exit value for the year was just $225 billion – the lowest annual total since 2017.
Devati said the year suffered in comparison with the go-go days of 2020 and 2021, when valuations were skyrocketing. Startups could find money, but they were burning through it quickly, often with less than 12 months of runway to work with.
“The (higher) interest rates had an impact,” he said. “… But there is another change that’s going to have a much longer term impact. It’s AI.”
Artificial Intelligence
Devati said he is excited about the potential for advancement with the help of AI in a number of sectors. He said we are seeing an intelligence revolution that should be embraced and put to work.
“Whether it is in the air, on the water or on the ground, it is going to make a huge difference,” Devati said. “We can use it to address the food shortage. We can improve basic health care. We can make the lives of people better. We can make a difference in the financial well-being of many.”
The Most Important Trait
If there is one skill Devati could gift to young entrepreneurs, it would be agility, he said.
“You have to have agility to make adjustments as quickly as you can,” Devati said. “You have to be agile to raise funds, to change directions.”
Bottom Line
Santhosh Devati not only talks the talk, he walks the walk. Here’s how he wraps up his social media profile:
“I am a huge believer in the LA startup ecosystem. (I am a) Board Member at Long Beach Accelerator, Mentor at SAM Precelerator, Backstage Capital, Virgin Startup and a Certified Business Mentor at SCORE Los Angeles.”
That’s exactly why Santhosh Devati is a friend of Sunstone.
For more about Devati’s company Anamika Ventures, go to mailchi.mp/233840580357/anamika-ventures.
©Sunstone Management, Inc. 2024
More About Sunstone Management
Sunstone Management is a diversified private capital sponsor firm headquartered in Southern California. Identified by Financial Times as one of America’s Fastest Growing Companies three years in a row. In the latest Pitchbook rankings, Sunstone Management was #15 in the third quarter of 2023 nationally, and #18 in the fourth quarter.1
- Rankings from Pitchbook Venture Monitor, Q3 and Q4.