Many entrepreneurs recall Ratan Tata fondly as a man with warmth, grace, and a smile. The Tata Sons’ Chairman Emeritus’ guidance shaped countless younger generations of founders and investors, including some well-known names like Ola, Lenskart, Paytm, Cult.fit, and Tracxn.

Ratan Tata invested in 56 start-ups from his various investment vehicles, according to Private Circle, a private markets data provider. RNT Capital Advisors, a global investment platform, financed early and mid-stage start-ups in India and across the world. The fund’s average investment size is ₹15 crore.

Kaushal Dugar, founder of Teabox, a tea company, credited Ratan Tata’s investment in 2016 as a pivotal moment in the company’s success.

The Tata guarantee

“Until Mr Tata’s involvement, the tea industry saw us as outsiders trying to change a system that had worked for over a century. Once he came on board, the entire industry began taking us seriously, giving us the much-needed boost to grow,” Dugar shared.

However, Dugar’s fondest memory of Ratan Tata was from their first meeting.

“What stands out from our first encounter was his warmth, grace, and smile. He opened the door for us, sensing my nervousness, and made us feel at ease. After my presentation, he only said, ‘There’s nothing in your presentation resembling a tea company, except the teaspoon image on one slide.’ Yet, he took a chance. His life was full of such bold bets that not only transformed the Tata Group but also shaped India’s global standing. With his passing, Teabox, India, and the world have lost one of our greatest sons,” Dugar reflected.

Support for the youth

Former Nasscom Chairman BVR Mohan Reddy said Ratan Tata always spoke in favour of young entrepreneurs and admired their willingness to ideate and find ways to translate them into solutions.

“Ratan Tata, a visionary leader, leaves behind a remarkable legacy that has made India proud. His entrepreneurial spirit revolutionised industries, creating countless opportunities for employment and establishing ethical corporate governance as a hallmark of business in the country,” he said.

Reminiscing his speech at the T-Hub inauguration in 2015, he said Tata spoke about the generational changes that happened in the sphere of entrepreneurship.

“I grew up in an environment where if you had an idea, your boss or your manager politely told you, and sometimes not so politely, that you have to gain some experience before you open your mouth,” Reddy said, quoting from Tata’s speech.

“You need to roll up your sleeves and spend five years on the shop floor, then you can talk. And that is not what enterprise is today. Enterprise today is an ability of someone, who may be in his 20s, who has a good idea, and he needs to find a way to implement them,” Tata said.

Pro common man

Ravi Kumar, CEO and Co-founder, Upstox said, “His request to us was simple: “Can you make the same quality of wealth advice I enjoy available to the common man of India?”

“The task ahead is clear, and we are committed now more than ever to honouring your vision,” Kumar added.

Ratan Tata’s start-up bets went beyond conventional e-commerce.

“Sir Tata is a legend - his passion for India, manufacturing and startups is unmatched and I had the pleasure to have him as an investor, mentor and guide. May his soul rest in peace and we shall continue to build towards viksit Bharat,” Rahul Garg, founder of Moglix, a manufacturing company he had invested in.

His bets have earned him handsome returns, too. While Upstox delivered a return of over 23,000 per cent, Ola Electric and Firstcry, new-age companies that went public this year, gave him 10x returns and 450 per cent respectively.

Not just founders, but investors too remembered him for his humility and grace.

“As an entrepreneur who had the privilege of having him as an investor, I will always remember his kindness, especially when he made even the smallest gestures deeply meaningful,” said Kunal Bahl, Co-founder of Titan Capital & Snapdeal, Promoter Unicommerce.

Shanti Mohan founder and CEO of Lets Venture commented, “It’s a big loss to the ecosystem because of the person he was. When I look back on his journey, he’s probably led by example - he lived the life of an entrepreneur. He took risks, ventured into new businesses and the way he built the Tata Group, exemplifies entrepreneurship.”

(With additional inputs from BL Hyderabad bureau)

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