40 Under 40 2021

Fortune India’s 40 under 40 list is an annual listing highlighting the inspirational work done by some of the country’s best and sharpest young entrepreneurs, fund managers, and corporate executives. But choosing a handful from hundreds of names is a tough ask, and we sought the inputs of an expert panel who helped us in the process of selecting the final 40. Let’s hear it for the unflinching spirit of our young achievers in these difficult times.

- Abhik Sen, Anshul Dhamija, Arnav Das Sharma, Arnika Thakur, Debojyoti Ghosh, Prerna Lidhoo, And Rajiv Bhuva

Ashish Dave 36, CEO, Mirae Asset Venture Investments (India)

Most of the Indian startups in the news during the pandemic have one thing in common—a cheque from Dave. Since setting up Mirae’s venture capital (VC) arm in March 2018, Dave has overseen the investment of around $200 million into startups such as mobility firm Ola, e-grocer BigBasket, food delivery company Zomato, and hyperlocal logistics firm Shadowfax. Among them, Zomato is on the cusp of a billion-dollar IPO, while the Tata group is buying BigBasket for $1.2 billion—potential exits that helped establish Mirae (and Dave) as a growth-stage investor. While the investments so far have been from South Korea-based Mirae’s global fund, Dave’s success convinced the firm to launch an India-focussed $35-million fund in January to back domestic early-stage companies with cheques of $2 million to $4 million. That would pit Dave against his professional mentor, Vani Kola, founder of Kalaari Capital, the early-stage VC firm he worked at before joining Mirae. Dave, who started his VC journey as an intern less than nine years ago, is also working on an India-focussed growth-stage fund, reportedly worth $100 million.

Sagar Daryani, Binod Kumar Homagai, Shah Miftaur Rahman 33, 34,33, co-founders, Wow! Momo