34 min
Deepak Sindwani - Co Founder of Wavecrest Growth Partners Growth Elevated Leadership Podcast
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- Entrepreneurship
In this Growth Elevated Leadership Podcast episode, Deepak Sindwani, co-founder of Wave Crest Growth Partners, shares his experiences in the growth equity sector, focusing on B2B software companies. He recounts his path from Bain Capital Ventures and Comcast Ventures to establishing his own growth equity firm, emphasizing the importance of resilience and humility. Deepak explains Wave Crest's operating platform, which offers comprehensive support to portfolio companies, and details the success stories of some of his portfolio companies.
For more resources on how to be a a better leader in business, please visit us at GrowthElevated.com, and follow us on LinkedIn.
Welcome to the Growth Elevated Leadership Podcast (00:00:02)
Introduction to the podcast and its purpose.
Deepak's Journey to Wave Crest Partners (00:00:27)
Deepak Simone's background and experience in the investing business.
Founding Wave Crest Partners (00:01:51)
Deepak's entrepreneurial journey and the founding of Wave Crest Partners.
Initial Struggles and First Fundraising (00:05:04)
Challenges faced during the initial stages of founding the firm and raising the first round of capital.
Growth and Expansion of Wave Crest Partners (00:10:34)
The growth of Wave Crest Partners from two people to a team of 15 and the raising of their first fund.
Investment Strategy and Target Companies (00:12:04)
Defining growth equity and the target range for investment in companies.
Supporting Founders in Growth and Expansion (00:15:55)
The role of Wave Crest Partners in assisting companies in the $5 to $20 million ARR range with growth and expansion strategies.
Value-Added Support for Portfolio Companies (00:18:11)
The expertise and value-added support that Wave Crest Partners provides to portfolio companies on their growth journey.
The Wave Crest Operating Platform (00:18:55)
Deepak explains the five pillars of value and support offered to founder-led capital-efficient B2B software companies.
Impel (00:20:20)
Deepak discusses the journey of a company named Impel (formerly Spin Car) and its evolution from a digital merchandising solution to an augmented reality platform for the automotive industry.
Challenges and Adaptation during COVID-19 (00:23:15)
Deepak shares how Impel faced challenges during COVID-19, initially experiencing a downturn and then benefiting from the shift in consumer behavior.
Acquisition and Evolution (00:25:34)
Discussion on the acquisition of a conversational AI business and its integration into Impel's product, leading to a change in the company's vision and trajectory.
Growth and Partnership (00:28:03)
Deepak highlights Impel's growth, diversification of risk for the founders, and the partnership between Wave Crest and the company.
Recommendations (00:30:23)
Deepak shares podcast and book recommendations, including "All In" podcast, "Smart Lists" podcast, and books by Charlie Munger and the philosophy of "Die with Zero."
Contact Information (00:33:29)
Deepak shares how to connect with Wave Crest and himself for further discussions and collaborations.
In this Growth Elevated Leadership Podcast episode, Deepak Sindwani, co-founder of Wave Crest Growth Partners, shares his experiences in the growth equity sector, focusing on B2B software companies. He recounts his path from Bain Capital Ventures and Comcast Ventures to establishing his own growth equity firm, emphasizing the importance of resilience and humility. Deepak explains Wave Crest's operating platform, which offers comprehensive support to portfolio companies, and details the success stories of some of his portfolio companies.
For more resources on how to be a a better leader in business, please visit us at GrowthElevated.com, and follow us on LinkedIn.
Welcome to the Growth Elevated Leadership Podcast (00:00:02)
Introduction to the podcast and its purpose.
Deepak's Journey to Wave Crest Partners (00:00:27)
Deepak Simone's background and experience in the investing business.
Founding Wave Crest Partners (00:01:51)
Deepak's entrepreneurial journey and the founding of Wave Crest Partners.
Initial Struggles and First Fundraising (00:05:04)
Challenges faced during the initial stages of founding the firm and raising the first round of capital.
Growth and Expansion of Wave Crest Partners (00:10:34)
The growth of Wave Crest Partners from two people to a team of 15 and the raising of their first fund.
Investment Strategy and Target Companies (00:12:04)
Defining growth equity and the target range for investment in companies.
Supporting Founders in Growth and Expansion (00:15:55)
The role of Wave Crest Partners in assisting companies in the $5 to $20 million ARR range with growth and expansion strategies.
Value-Added Support for Portfolio Companies (00:18:11)
The expertise and value-added support that Wave Crest Partners provides to portfolio companies on their growth journey.
The Wave Crest Operating Platform (00:18:55)
Deepak explains the five pillars of value and support offered to founder-led capital-efficient B2B software companies.
Impel (00:20:20)
Deepak discusses the journey of a company named Impel (formerly Spin Car) and its evolution from a digital merchandising solution to an augmented reality platform for the automotive industry.
Challenges and Adaptation during COVID-19 (00:23:15)
Deepak shares how Impel faced challenges during COVID-19, initially experiencing a downturn and then benefiting from the shift in consumer behavior.
Acquisition and Evolution (00:25:34)
Discussion on the acquisition of a conversational AI business and its integration into Impel's product, leading to a change in the company's vision and trajectory.
Growth and Partnership (00:28:03)
Deepak highlights Impel's growth, diversification of risk for the founders, and the partnership between Wave Crest and the company.
Recommendations (00:30:23)
Deepak shares podcast and book recommendations, including "All In" podcast, "Smart Lists" podcast, and books by Charlie Munger and the philosophy of "Die with Zero."
Contact Information (00:33:29)
Deepak shares how to connect with Wave Crest and himself for further discussions and collaborations.
34 min