Gupta Profits

Angel investor Ashish Gupta, according to a Livemint report, is set to make about $20 million in a recent sale of Flipkart to Walmart. The Indian American entrepreneur previously co-founded Junglee, which was sold to Amazon, as well as venture capital firm Helion Ventures. ( photo)

Ashish Gupta, an angel investor and entrepreneur, has a knack for finding profitable companies and making a boatload of money when those companies sell to larger corporations.

Gupta has again cashed in with the recent sale of Flipkart to Walmart, according to a report.

The investor stands to make roughly $20 million in the deal involving rivals of Amazon, a company in which he sold his startup Junglee to in 1998 for $240 million.

Gupta, the founder of now shuttered venture capital firm Helion Ventures, was the first angel investor in Flipkart, investing Rs. 10 lakh in it in 2009, the report said.

The report said that Gupta doesn’t make many angel investments but he has acquired a reputation of being a smart, low-key investor with a knack for picking winners.

Apart from Flipkart, Gupta has made several astute bets, including MuSigma and MakeMyTrip. At least three other investments in India have yielded big gains: cloud computing platform Minjar was bought by Nutanix this year, Merittrac was bought by Manipal in 2016, and IT services firm Daksh by IBM in 2004, the report said.

The Indian American entrepreneur, who earned his doctorate from Stanford University and a computer science degree from the Indian Institute of Technology-Kanpur, also worked for Amazon following the sale of Junglee, the price comparison site company he co-founded. 

In 2000, Gupta and his wife Nita Goel, founded Tavant Technologies with two others. Gupta then did a Kauffman Fellows Program to study the VC business. He later joined the Woodside fund, an early stage VC firm in Silicon Valley, before founding Helion in 2006, his bio said. 

While he is making roughly $20 million in the Flipkart deal, the Livemint report said that the Indian American will make about $50 million in the MuSigma deal.

Despite Helion failing as a VC firm, Gupta is still respected and liked by entrepreneurs and investors alike, according to the report.

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