Prayank Swaroop, a partner at Accel India, is a prominent and highly respected investor in the Indian startup ecosystem. With a background in engineering and experience at Adobe, he has a deep, first-principles understanding of technology and product. He is particularly renowned for his expertise in the B2B/SaaS and enterprise tech sectors, having been a crucial early partner to several category-defining companies like Chargebee, BrowserStack, and Bizongo.

His insights on building global companies from India, mastering product-led growth, and identifying opportunities in "un-sexy" industries are a goldmine for entrepreneurs.

On Investment Philosophy & Finding Opportunities

  1. "We love to invest in 'un-sexy' businesses. The best companies are often built in boring, unglamorous industries."
    Learning: Don't be seduced by hype. Massive opportunities often lie in solving complex, mission-critical problems in industries that others overlook, such as supply chain, compliance, or manufacturing.
    Source: Accel India "INSIGHTS" Podcast (YouTube), https://www.youtube.com/watch?v=kY8c2P6J-1w
  2. "Our job is to find the non-obvious."
    Learning: The biggest venture returns come from identifying a truth or an opportunity that is not yet widely understood. If an idea seems obviously great to everyone, the alpha may already be gone.
    Source: Matrix Partners "Matrix Moments" (YouTube), https://www.youtube.com/watch?v=o0y5v4L_3mU
  3. "The size of the market is the biggest determinant of a large outcome."
    Learning: A great team and product are necessary, but not sufficient. To build a multi-billion dollar company, you must be operating in a massive, growing market that can support that scale.
    Source: Accel India Blog, https://www.accel.com/in/perspectives/what-does-it-take-to-build-a-category-leader-from-india/
  4. "We are looking for 'compounders'—businesses that can grow consistently for a very long time."
    Learning: The most valuable companies are not built on one-time hits, but on durable business models with strong retention and recurring revenue, allowing them to compound growth year after year.
    Source: His investment thesis discussions.
  5. "Timing is the most underrated factor in a startup's success."
    Learning: A great idea can fail if the market is not ready. Look for a fundamental shift—in technology, regulation, or customer behavior—that creates a window of opportunity for a new company to emerge.
    Source: Matrix Partners "Matrix Moments" (YouTube), https://www.youtube.com/watch?v=o0y5v4L_3mU
  6. "The best ideas often sound a little bit crazy at first."
    Learning: Truly disruptive ideas challenge conventional wisdom. Be willing to back founders with a contrarian vision that others may dismiss, as these are often the ideas that create new categories.
    Source: His commentary on backing innovative companies.

On Founders and What He Looks For

  1. "The best founders have an 'earned secret' about their market."
    Learning: They possess a unique, non-obvious insight gained from deep, firsthand experience in their industry. This "secret" gives them an unfair advantage and is the foundation of their product strategy.
    Source: Accel India "INSIGHTS" Podcast (YouTube), https://www.youtube.com/watch?v=kY8c2P6J-1w
  2. "I look for founders who have a 'do whatever it takes' attitude."
    Learning: The entrepreneurial journey is filled with unforeseen challenges. The most successful founders have a relentless, resourceful, and almost irrational commitment to finding a way to win.
    Source: Matrix Partners "Matrix Moments" (YouTube), https.www.youtube.com/watch?v=o0y5v4L_3mU
  3. "We are looking for spikes, not a lack of weaknesses."
    Learning: Early-stage founders don't need to be good at everything. They need to be truly world-class at one or two things—whether it's product, sales, or technology—that give the company its core strength.
    Source: Accel India "INSIGHTS" Podcast (YouTube), https://www.youtube.com/watch?v=kY8c2P6J-1w
  4. "The ability to attract and hire talent that is better than you is a superpower."
    Learning: A founder's success is ultimately capped by the quality of their team. Great leaders have the vision and charisma to convince A+ players to join their mission.
    Source: His advice to portfolio founders.
  5. "Grit is the common denominator of all successful founders."
    Learning: More than any other trait, it is the sheer resilience and perseverance to endure the emotional and operational grind of a startup that separates winners from the rest.
    Source: A core tenet of his founder evaluation process.
  6. "We look for founders who are deeply curious and are learning machines."
    Learning: The founder who starts the company is not the same founder who can scale it to $100M. The ability to constantly learn, seek feedback, and evolve is critical.
    Source: Matrix Partners "Matrix Moments" (YouTube), https://www.youtube.com/watch?v=o0y5v4L_3mU

On SaaS and Go-to-Market Strategy

  1. "Product-Led Growth (PLG) is a philosophy, not just a tactic."
    Learning: PLG is about making the product the primary driver of customer acquisition, conversion, and expansion. It must be embedded in the DNA of your product, engineering, and marketing teams.
    Source: Accel India Blog, https://www.accel.com/in/perspectives/decoding-product-led-growth/
  2. "The best PLG companies have a very short 'time to value'."
    Learning: The user must be able to experience the core value of your product and have an "aha" moment within the first few minutes of using it, without needing to talk to a salesperson.
    Source: Accel India "INSIGHTS" Podcast (YouTube), https://www.youtube.com/watch?v=yYJgaa-g0Jk
  3. "Don't just build a product, build a community."
    Learning: A vibrant community around your product creates a powerful moat. It drives engagement, provides invaluable feedback, and turns your users into your best advocates.
    Source: His commentary on successful open-source and PLG companies.
  4. "The founder has to be the first salesperson."
    Learning: In the early days, you cannot outsource sales. The founder must be on the front lines, getting unfiltered feedback and understanding customer objections to refine the product and the pitch.
    Source: A piece of advice he consistently gives to B2B founders.
  5. "Land and Expand is the magic of SaaS."
    Learning: The goal is to get a foot in the door with a single team or use case (land) and then grow the account over time as the product proves its value (expand). This is where Net Revenue Retention (NRR) becomes a key driver of growth.
    Source: Accel India Blog, https://www.accel.com/in/perspectives/decoding-product-led-growth/
  6. "Pricing is a product feature. It's a reflection of your value."
    Learning: Don't treat pricing as an afterthought. It should be simple, transparent, and directly aligned with the value metric your customers care about.
    Source: His workshops on SaaS go-to-market.
  7. "India is building the world's best SaaS talent."
    Learning: After a decade of building for the world, the Indian ecosystem has developed a deep pool of experienced product managers, marketers, and sales leaders who know how to build and scale global SaaS companies.
    Source: The Economic Times, https://economictimes.indiatimes.com/tech/startups/india-is-the-best-place-to-build-a-saas-company-accels-prayank-swaroop/articleshow/81817454.cms

On Company Building

  1. "The first 10 hires define your company's culture."
    Learning: The values, work ethic, and behaviors of your initial team will set the cultural DNA for the company for years to come. Do not compromise on these early hires.
    Source: His mentorship sessions with early-stage founders.
  2. "Focus on the inputs, and the outputs will follow."
    Learning: You can't directly control revenue or valuation. But you can control the inputs: the quality of your product, the happiness of your customers, the speed of your execution. Obsess over these.
    Source: A core tenet of his operational advice.
  3. "Don't scale your team ahead of your revenue."
    Learning: Prematurely hiring a large team before you have product-market fit is a common cause of startup death. Maintain a lean, capital-efficient approach until the market starts pulling the product from you.
    Source: Matrix Partners "Matrix Moments" (YouTube), https://www.youtube.com/watch?v=o0y5v4L_3mU
  4. "A startup is a race to find product-market fit before you run out of money."
    Learning: This is the fundamental equation of an early-stage company. Your entire focus should be on iterating as quickly as possible to validate that you're building something people want.
    Source: His definition of a startup's primary goal.
  5. "The best way to build a moat is to learn faster than your competitors."
    Learning: In a fast-moving market, your organization's collective rate of learning and iteration is the most sustainable competitive advantage.
    Source: Accel India "INSIGHTS" Podcast (YouTube), https://www.youtube.com/watch?v=kY8c2P6J-1w

On the Founder-VC Partnership

  1. "My job is to be a sparring partner for the founder."
    Learning: A great investor is a trusted confidant who can challenge a founder's thinking, act as a sounding board for tough decisions, and provide a valuable external perspective.
    Source: His description of his role as a board member.
  2. "We are in the business of serving founders."
    Learning: The founder is the customer. A VC firm's entire model should be oriented around providing the resources, network, and support that founders need to succeed.
    Source: Accel's "Founder-first" philosophy, which he champions.
  3. "The board meeting should be the most valuable meeting a founder has all month."
    Learning: A board meeting should be a forward-looking, strategic discussion, not a backward-looking report card. It's a dedicated time for the company's smartest people to tackle the biggest challenges and opportunities.
    Source: His advice on running effective board meetings.
  4. "Trust and transparency are the foundation of a great founder-VC relationship."
    Learning: Founders should feel safe sharing both good and bad news with their board. A relationship without this level of trust is dysfunctional and will break down under pressure.
    Source: A core principle of his working relationship with founders.
  5. "We are long-term partners. We are here for the 10-year journey."
    Learning: Building an enduring company takes time. Founders should choose investors who have a long-term orientation and will support them through multiple market cycles.
    Source: Accel's investment philosophy.
  6. "The best thing I can do is connect a founder with another founder who has been through the same problem."
    Learning: The most valuable resource a VC can provide is access to a network of experienced operators and peers. Founder-to-founder learning is incredibly powerful.
    Source: His focus on building a strong founder community.

Additional Key Learnings

  1. On The Pitch: "The goal of a pitch is not to get a cheque. It's to start a conversation."
  2. On Hiring: "Hire for attitude and aptitude. You can train for skills."
  3. On Culture: "Culture is who you hire, fire, and promote."
  4. On The 'Why Now?': "A great startup is at the intersection of a massive market and a fundamental shift in technology or behavior. The 'why now' is key."
  5. On Unit Economics: "You can't fix a broken business model with scale."
  6. On The Competition: "Don't be competitor-obsessed. Be customer-obsessed."
  7. On The First Customer: "Your first customer is not buying a product. They are buying your vision and your commitment."
  8. On The Downturn: "Constraints breed creativity. A downturn is the best time to build a disciplined, resilient company."
  9. On The Long View: "The IPO is a milestone, not the destination."
  10. On Focus: "Startups die of indigestion, not starvation."
  11. On Storytelling: "The best founders are the best storytellers. They can simplify the complex and inspire belief."
  12. On B2B Marketing: "In B2B, the best marketing is education. Teach your customers something valuable."
  13. On The Operator-VC Transition: "Having been an operator helps you have deep empathy for the founder's journey."
  14. On The Indian Market: "The next decade will be defined by software and deep tech companies built from India for the world."
  15. On Giving Feedback: "My job is to give direct, honest feedback, even when it's tough."
  16. On Decision Making: "Make decisions with 70% of the information. If you wait for 100%, you're too late."
  17. On Failure: "Fail fast, learn faster."
  18. On Ambition: "We look for founders who want to build a company that will outlast them."
  19. On Community: "The strongest moats are not built on technology, but on community."
  20. On Legacy: "The ultimate reward is seeing a founder you partnered with on day one build a legendary company that changes an industry."