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Madhouse founders starting Morpheus Venture Partners

July 8, 2008 · Posted in Entrepreneurship, VC India 

WATBlog reported yesterday that Sameer Guglani and Nandini Hirianniah, founders of DVD rental company Madhouse.in (acquired by Seventymm), are starting a YCombinator like incubator called Morpheus Venture Partners, to assist other early stage startups.

Ashish has a good QnA with them about their latest venture.

At this point, it looks like the incubator will be more targeted towards mentoring, strategy and advise for startups as opposed to seed funding the startups.

Our primary value add to the startup teams is the advise, mentorship, guidance, access to the right network, creating opportunity to meeting relevant people, team strategy, product strategy, launch strategy, fund raising strategy (intros and more), getting the right advisers onboard with the right kind of terms, etc.

In the current scenario, there is definitely a lot of need for such an entity. Someone, who can closely work with other entrepreneurs and help them get off the ground and get the ball rolling.

At the same time, I cant help but reminisce about a similar effort called DreamzHunt, that was launched in early 2007 by a Chennai based business group called SGS. The idea was to launch a competition where the top 3 teams will be selected and receive a funding of $20k - $100k for 15% stake in the company. The effort fizzled out and it seems that only 2 teams were selected out of all the applicants. Thus far, I havent seen any update on how those two teams are doing. Or if SGS ever invested the quoted amounts in the ventures. If you have any updates about DreamzHunt, leave a comment below and let me know.

However, based on Sameer and Nandini’s entrepreneurial success, I’m more optimistic and wish them the best with this new venture.


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2 Responses to “Madhouse founders starting Morpheus Venture Partners”

  1. Gaurav on July 9th, 2008 1:33 am

    The model where you get n number of teams and then select top2 or 3 wouldn’t work very well. Its not like you have to select top x% doesn’t matter if they have the right _stuff_ to get _there_. They might as well add OBC and SC/ST quotas. Also the valuation (like 15%) can’t be set up front for all the selected teams.

    Morpheus sounds interesting and something that Indian Internet space badly needs.

  2. Ankit on July 10th, 2008 6:42 am

    Its a great initiative and is much needed in India. However, just like any other venture its success will depend about how the founders execute their vision… Morpheus guys are better equipped for success as they have been entrepreneurs themselves….