Chandra Goyal Founder And Investor At KRG Ventures Limited Discusses Business Ecosystems And Global Investments With Dinis Guarda

Chandra Goyal, Founder and Investor at KRG Ventures Limited discusses venture capital, startup mentorship, AI-driven investment strategies, Soho's business ecosystem, tourism challenges, and the role of the Soho Business Alliance in increasing economic growth in the latest episode of the Dinis Guarda Podcast. The podcast is powered by Businessabc.net, Citiesabc.com, Wisdomia.ai, and Sportsabc.org.

Chandra Goyal is an angel investor and entrepreneur. He is the founder and investor at KRG Ventures Limited, a boutique venture firm that specialises in making strategic investments in early-stage startups and small businesses that are innovating in sustainable and disruptive technology.  Chandra has been a Member of the Board of Directors at the Soho Business Alliance, since 2022, an organisation representing over 110 businesses, providing licensing and legal advice, networking opportunities, and economic empowerment initiatives.

During the interview with Dinis Guarda, Chandra Goyal discusses how teamwork, leadership, and community collaboration help in small business growth:

"The first five years of building my business were really challenging. It’s not easy when you are wearing different hats, ordering everything, taking care of supply chains, paying bills, and managing accounts.

"I realised that I cannot do everything as one person. You need a team around you, and a network of people committed to achieving a common objective. That is how you can build and grow a business.

Once you have the right people around you, you have to act as a democratic leader. It's important to give away power and trust others to run things for you. Small businesses fail when they fail to delegate responsibility.

When I started giving opportunities to the right people and gave them the responsibility to run the business, I started growing faster. I no longer needed to be there constantly; the business was working for itself."

Building Strong Local Businesses with a Diverse Team

Chandra Goyal emphasises the importance of teamwork and diversity:

"Soho Business Alliance committee is made up of people from different walks of life. We’ve got people like John James who owns the entire Soho estates, Victor Garvey, an M-star chef, and many others from diverse backgrounds.

That’s what makes Soho special. We’ve got people like George, who comes from the nightlife industry and is trying to build his jazz empire, and then we’ve got Peter, who takes care of the planning side of things.

We also have our lovely Joe May, who’s our secretary and keeps the glue of Soho Business Alliance together. She communicates with everyone every day about the local problems that need addressing."

Talking about how they keep the community engaged, he says:

"To ensure effective communication, we have board meetings once a month. We also host our first Tuesday club where everyone who lives and works in Soho is invited to discuss local issues and what we’re doing to resolve them.

We use social media groups and channels to communicate with our members, understand their problems, and figure out how we can resolve them."

Chandra also explains why many startups fail because they lack the right guidance, leading to issues with their pitch decks, strategy, or execution:

"I think the key part of any startup to be successful is to have the correct guidance given to them. That is where most startups fail to secure investments.

They think their idea is a million-dollar idea but they haven't got the expertise to actually look through the whole pitch deck and understand that some of the numbers they have provided don’t add up or the strategy is wrong.

We built the ecosystem again where all the investors, angel investors, and those who want to be part of the mentorship program can join together.

We built a mentorship panel where mentors can also mentor these startups and if they like those startups, they can also become investors. Mentors are coming and giving their 20-30 years of experience, and it's only fair that they get paid for their time as well. We match the startups with the right mentors. For example, if a tech startup is looking for advice, we link them with someone who has years of experience in that field."

Mentors sometimes become so keen that they want to invest their own money into the platform because they believe in the product.

As an investor myself, I have more confidence to invest when an effective mentor is actually guiding these startups."

Strengthening Soho's economy: Tax, tourism, and security

Chandra is sharing insights into challenges and opportunities within Soho, renowned for its diverse businesses, tourist attractions, and nightlife. 

"One square mile of Central London plus the entire West End... contributes nearly 2.5 billion pounds in business rates a year. This adds a very good value to the GDP of the country itself."

23.2 billion pounds in VAT tax-free shopping has been lost. That money, if it comes into Central London, can build substantial changes to the economy. If we close the businesses down, if we turn Soho into a ghetto area, we will not prosper. Businesses need to prosper for the economy to grow and develop.

The bloodline of London is tourism. That is where London is growing and thriving.

There are big chunks of money being collected in taxes, but we still have problems like phone snatching on Minox Street. We need more police officers on the beat to address these issues effectively."

Talking about the safety improvements, he shares:

"I’m pleased to say that now, after repeated efforts, they’re installing an extra 100 cameras within the Soho district for security and safety."

Soho Business Alliance: Supporting local growth and innovation

The Soho Business Alliance (SBA) is a non-profit organisation established in 2020 to represent and support businesses in Soho, London. It acts as a unified voice for local businesses, working to protect and promote the area's economic diversity and unique character.

Talking about the formation of the Soho Business Alliance, Chandra says:

"Soho Business Alliance was originally formulated after COVID. We all realized that we need each other and should have a unified voice when addressing issues with licensing, security, or any other local problems.

If one business complains about something, there's no action. But if we all come together and understand the problem, we can address it as a unified front. We work closely with the local council to resolve issues.

Soho Business Alliance currently serves 180 businesses, and we’re growing daily. We have sponsors like AMX and DNA. We even have our own WhatsApp group where we communicate about issues like crime and the challenges we face day-to-day.

"The scrapping of VAT tax-free shopping has significantly impacted tourism in London. We are losing £23.6 billion a year in revenue. This has led to major high-street shops closing down.

We want Soho to thrive as a nighttime economy hub. Many cities operate 24-hour economies. If we can make the 24-hour pilot scheme successful in Soho, we can expand it to the entire area, making it a global destination.

We already have great transport connections with the new Elizabeth line, but we need to improve licensing and extend operating hours to make Soho a truly 24-hour commercial and cultural destination."

Building global networks and leveraging AI for business growth

Chandra shares his experience in venture capital, emphasising the importance of mentorship and technology in preparing startups for investment:

“Currently, I'm a VC partner at 888 VC, based in India. The firm has a SA Fund license for 160 CR in India and a Delaware Fund in the US. Our platform connects investors and startups, but it’s more than just investment; we incorporate mentorship to ensure startups are 'investment-ready.' We have an automated process, driven by AI and blockchain, to help startups understand what changes they need to make before seeking investment."

As the interview continues, Chandra also discusses the role of AI in startup investment:

"The AI-driven platform allows startups to submit their information and automatically identifies key areas they need to improve to become investment-ready. This helps streamline the process, making it more efficient for both the startup and the investors.

In addition to my work with 888 VC, I’ve also made investments in land and properties in India. We’re expanding into Dubai, as it’s becoming the centre for investment, particularly due to favourable tax policies compared to the UK. We are in the process of setting up an office in Dubai and have strategic partnerships with investors and private equity firms. This will enable us to materialise large investment opportunities.

We’re also working to support UK-based startups by helping them go beyond the UK market. We’re positioning them on a global stage where they can secure the investment they need, without the heavy tax burden. This allows them to grow and thrive on an international level."

Talkin about the role of AI in small business, he says:

"Small businesses need to understand the potential of AI. For example, AI can handle FAQs on websites like store hours, products, or holiday schedules. It can save time and improve customer service, making the business more efficient.

One of the major challenges small businesses face is managing receipts, paperwork, and other administrative tasks. AI and streamlined services, like the ones offered by Business ABC, can bring everything under one platform, saving time, effort, and money. This approach allows businesses to focus on key areas for growth and development."

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