Home40Under40 2023An In-Depth Look at Avi Mittal's Journey: Navigating Entrepreneurship, Investing, and Growth

An In-Depth Look at Avi Mittal’s Journey: Navigating Entrepreneurship, Investing, and Growth

Avi Mittal is a Mumbai-born entrepreneur with an impressive track record in the business world. With a diverse portfolio spanning over 28 ventures, Avi’s journey began over a decade ago when he transformed his family office into an angel investment fund. 

He ventured into sports IPs, pet foods, education, hospitality, and more, leaving an indelible mark on each industry.

With a solid educational background from renowned institutions in the United Kingdom and Switzerland, he has become a driving force behind Golden Ace Ventures. Avi’s entrepreneurial journey began at a young age, and he has consistently demonstrated a knack for strategic management and business development.

Getting started

Having pursued education in Hospitality and Tourism in Switzerland and Entrepreneurship Management in the UK, Avi Mittal embarked on his entrepreneurial path at the age of 25. Golden Ace Ventures, his holding company, served as the launchpad for his business ventures, which ranged from sports leagues like Super Fight League and Super Boxing League to investments in renewable energy, exemplified by Suja Solar.

With a strategic and tactical approach, Avi Mittal has consistently contributed to the growth and development of businesses. His investment portfolio reflects his versatility and business acumen, as he has ventured into diverse industries such as FMCG, renewable energy, insurance, real estate, and pet foods.

Avi’s true calling

Avi Mittal’s inspiration stems from the ever-evolving world, driven by new technologies and the constant potential for game-changing ventures. As an entrepreneur, he is motivated by the desire to enable and empower other entrepreneurs. Avi’s vision goes beyond mere guidance; he aspires to provide a platform for budding entrepreneurs to collaborate, be an integral part of their teams, and collectively nurture their visions. 

A day in Avi’s life

Avi Mittal’s daily routine is highly structured and business-focused. He begins by meeting with his core team, including his CIO, CFO, CMO, and CA, to review current investments and address any immediate issues. He also oversees ongoing projects like a school construction on the outskirts of Mumbai.

A significant portion of his day is dedicated to evaluating investment proposals, often receiving between 50 to 75 proposals each week. He spends two hours reviewing these proposals, shortlisting the most promising ones, and then delegates due diligence to his team.

In the later part of the day, Avi engages in calls or Zoom meetings with entrepreneurs behind these investment proposals. He assesses their vision and their willingness to collaborate and learn from others in the industry. 

Avi is selective about working with entrepreneurs, prioritizing those who are open to gaining knowledge and willing to go the extra mile to achieve their goals. His day revolves around identifying visionary projects and entrepreneurs who align with his business philosophy.

Avi’s investment approach

Avi Mittal’s company selection process is based on several key criteria. First and foremost, they assess the current market scenarios and trends. They prioritize ventures that are eco-friendly, environmentally conscious, and contribute positively to addressing climate change and sustainability. This aligns with their commitment to businesses that give back to the environment.

Furthermore, the team behind the venture is of paramount importance. Avi and his team evaluate the expertise, experience, and commitment of the entrepreneurs driving the project. They analyze how the proposed venture fits into the current industry landscape and its potential to disrupt or improve existing systems.

Comparative analysis is also crucial. Avi’s team examines other players in the same sector to understand their growth and current activities. This analysis helps identify the unique selling points and differentiation of the venture under consideration.

To ensure a comprehensive evaluation, Avi’s team conducts an in-depth due diligence process, involving legal experts, financial analysts, and financial advisors. They also benefit from the insights of prominent figures on their advisory board, who have a track record of building billion-dollar companies. This holistic approach ensures that only the most promising and strategically sound ventures are selected for investment.

Creating Impact

He is also a prominent social entrepreneur with a strong impact in various areas:

  • Children’s Welfare: He supports UNICEF and the Deonar Yuva Orphanage for underprivileged children.
  • Inclusivity Through Sports: Avi drives inclusivity with the Swaraj Foundation, helping cancer patients.
  • Senior Citizens Support: He’s involved with the Prasara Care Foundation, improving the lives of senior citizens.
  • Women’s Empowerment: Avi sponsors the Mumbai Police Women’s football team, empowering women in sports.

Navigating challenges

Avi Mittal encountered several challenges during the initial phases of his entrepreneurial journey. One significant challenge was the lack of external funding. He started with a small corporate firm and did not have the luxury of external investments to kickstart his ventures. Being part of a real estate family, he wanted to explore diverse business avenues instead of solely focusing on real estate. This meant he had to build his investment fund gradually.

One of the biggest challenges he faced was how to generate substantial returns from his initial investments in a short timeframe, typically within 18 to 24 months. He needed to increase his investment corpus to diversify into various businesses successfully. The early years of building his investment fund were marked by these financial and strategic challenges.

Celebrating feats

Avi Mittal and Golden Ace Ventures have achieved significant success through a strategic approach to investments. Their early tech investment in the UK yielded substantial returns, setting a strong foundation. 

They capitalized on the growing market for sports IPs, co-founding ventures that delivered successful exits. Diversification into various sectors further enriched their portfolio and boosted returns. 

Their proven success has also attracted the interest of other angel investors and private equity partners, reinforcing their strong position in the investment landscape. 

Some of Avi’s other achievements include:

• National Icon Awards, Serial Entrepreneur Award 2018,

• Elite 50 most influential young global Indians 2021 (United Kingdom)

• Indo Arab Business Awards- Young Entrepreneur of the Year 2021 (Dubai) and 2022,

• Mumbai Entrepreneur Award – Entrepreneur of the Year 2022,

• Panache Achievers Awards, Youth entrepreneur Par excellence 2022,

• ET 40 under 40 Award 2023.

Future plans

Avi Mittal and Golden Ace Ventures are shifting their focus towards creating more tangible assets and long-term businesses rather than just pursuing exits. Their future plans include expanding into the hospitality industry with hotels and resorts. 

Additionally, they are actively involved in building a school. Another notable endeavor is entering the manufacturing sector with a focus on high-protein rice, which aligns with India’s government promotion and ongoing demand. These initiatives reflect their commitment to sustainable and enduring business ventures.

Lessons learned

Avi has learned key lessons from his entrepreneurial journey. He stresses the need for caution when seeking seed funding from friends and family to avoid potential strains on personal relationships due to financial transactions. 

Additionally, he highlights the importance of continuous market exploration, advising entrepreneurs to closely monitor both local and international competitors to learn from their successes and failures. 

Lastly,  according to Avi, seeking international exposure through business conferences and global platforms is essential for business growth and adaptation.

Snigdha Basu
Snigdha Basu
A multifaceted writer, Snigdha Basu is a freelancer and a columnist at Entrepreneurs Today. She also spearheads Chic Life Edition - her own Digital Magazine with sustainable fashion, beauty, and culture at its core. Reach out to Snigdha at [email protected] for inquiries.
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