With half of its population under 25 and the unemployment rate at four-decade high, India faces an uncertain future. The question on young people’s minds: what kinds of jobs will we have? Quartz asked leaders across India’s biggest industries about that one job in their company or field that will be the most crucial in the coming decades.
Several global venture capital (VCs) investors have backed marquee Indian companies since the early 1990s. In the last decade, VCs have played a critical role in building the country’s startup ecosystem—now the third-largest in the world. As per some estimates, VC-backed companies contribute over $50 billion to India’s GDP, and have created more than 1.5 million jobs. In the first eight months of 2019, VC and private equity investments in India touched an all-time high of $36.7 billion.
Sandeep Murthy, Partner at VC firm Lightbox, told Quartz:
Rather than a single job, I believe that there is an attribute that has been—and always will be—the most important to have as a venture capitalist. That is the ability to cultivate relationships. Venture capital is a business of relationships. Relationships are built on trust, and trust is essential to navigate the often difficult journey of redefining industries. Relationships are created and fostered when there is an ability to be vulnerable and demonstrate empathy. Machines are becoming more commonplace across industries; in venture capital, they will do a great job of taking over the mechanical tasks, but they will never be able to effectively help entrepreneurs navigate the myriad of emotions that come with the reality of being an entrepreneur.
Sandeep Murthy is a Quartz Pro, where he joins other top business thinkers and doers who regularly contribute insights on the news as part of the growing membership community. To read more of his contributions and thoughts, download the Quartz app.