What if the biggest energy revolution in India isn’t happening in cities… but inside tiny flour mills in forgotten villages?

In this conversation, I sit down with Sandeep Chopra, co-founder & CEO of Metafin, to unpack how solar financing for rural MSMEs is reshaping livelihoods, powering micro-enterprises, and quietly shifting India’s clean-energy future. We dive into why solar energy in India is exploding across the Global South, how decentralised power beats unreliable grids, and what it takes to underwrite credit for first-time borrowers in remote villages.

From surviving COVID to unlocking financial inclusion, this episode will change the way you think about rural India, clean energy, and solar financing for MSMEs. Don’t miss the story behind one of India’s fastest-scaling impact-driven energy models!

IN THIS EPISODE
(00:00) Why the next big energy boom won’t start in cities
(04:41) The moment a finance guy quit London to chase purpose
(09:31) How one unexpected detour unlocked a billion-dollar rural opportunity
(15:04) The strange secret behind predicting who will actually repay
(18:59) The grid problem no one talks about… and the hack rural India figured out
(20:17) How one village becomes a “network effect” goldmine
(21:00) What the government quietly gets right (and wrong) about solar adoption
(23:25) The hidden barriers that stop rural India from scaling - and how to break them
(28:03) The one product rural MSMEs desperately need but don’t get
(29:34) A myth about rural India that shocked me completely
(32:11) The future of selling power like UPI payments - hype or real?
(34:15) The uncomfortable truth about grid stability nobody wants to admit
(38:08) The impact numbers that even shocked us
(40:22) A single upgrade that transformed one family’s entire future

Sandeep Chopra | CEO | Metafin
A senior executive with extensive experience in renewable industry (solar), growing start-up organizations, making them sustainable and delivering change.

Specialties: Strategy, Renewables, Finance, Delivering Change to make organizations sustainable, managing large operations, Negotiation Skills, Strategy

Rahul Thayyalamkandy
Director of Comms & Community, Vertex Ventures SEA & India

Rahul Thayyalamkandy joined the SEA/India team as the Director of Communication & Community in 2024 and is based in Singapore.

Before joining Vertex, Rahul served as a Product Manager at BLOCK71, an incubator and joint venture of NUS Enterprise and Singtel Innov8, where he developed scalable services for portfolio startups and designed mentorship programs. He also gained experience as a Summer Associate at Cocoon Capital, working with the Managing Partner on investment deals.
https://www.linkedin.com/in/rahulthayyalamkandy/

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Vertex Ventures Southeast Asia & India is a pioneer in investing in tech start-ups in this region and has helped to build a number of unicorns. In this podcast, we seek to share and uncover the Hard Truth - raw, unfiltered insights and venture capital knowledge from across Southeast Asia and India. Tune in to learn from leading founders, innovators, venture capitalists, and industry experts in the region and gain industry insights from those in the know.

If you like what you hear, please follow or subscribe to the show so you don’t miss out on any of our upcoming discussions.

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Follow us to get notified whenever new episodes are shared.

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For more information, please visit: https://www.vertexventures.sg

What’s it like to bet big on beauty brands, snacks, and even quick commerce in India?

In this episode, I sit down with Ben Mathias, Managing Partner at Vertex Ventures Southeast Asia & India, to unpack his journey of spotting consumer opportunities where others only saw risk. Ben shares how he went from backing early players like FirstCry to today’s digital-first names such as Pilgrim, Kapiva and Licious. We talk about why mass premium products matter, how India’s quick commerce boom is reshaping shopping, and what makes a startup truly venture-backable.

If you’re curious about venture capital in India, consumer brands growth, or how VCs really make money, this conversation is packed with insights straight from someone who’s been in the trenches.

IN THIS EPISODE
(00:00) Why VCs secretly love your shopping habits
(02:56) The sneaky rise of brands your parents never knew
(05:01) 10-minute deliveries: magic or madness?
(05:41) Is instant everything only for city slickers?
(07:37) Could kirana shops beat Amazon at its own game?

(11:11) From diapers to D2C: the wild evolution of buying
(13:24) How to build a million-dollar brand on a shoestring

(15:49) Premium dreams, middle-class wallets: where’s the sweet spot?
(19:58) What makes investors say take my money?

(23:45) Food, fitness, furniture: the next gold rush
(25:49) Startup lessons money can’t buy
(29:12) Will Indians really pay for podcasts and stories?
(32:30) The temptation (and trap) of going global too soon
(34:19) Why Gen Z is spending on experiences, not stuff
(36:20) The big question: can consumer startups actually make money?

Ben Mathias
Ben Mathias is a Managing Partner at Vertex Ventures Southeast Asia & India and has overall responsibility for the firm’s investments in India and Japan. Since joining Vertex in 2015, he has made several investments in the areas of Consumer Internet, Fintech, Enterprise Technology, Semiconductor & Digital Health. Ben has sat on multiple boards including Licious, FirstCry, XPressBees, Kapiva, IVF Access, Attentive AI, BigEndian Semiconductor, CloudCherry and Synup.

Ben received his Master of Science in Engineering Sciences from Dartmouth College and his Bachelor of Technology from the Indian Institute of Technology, Madras.

Hear him share his career and more on this podcast.

Rahul Thayyalamkandy
Director of Comms & Community, Vertex Ventures SEA & India

Rahul Thayyalamkandy joined the SEA/India team as the Director of Communication & Community in 2024 and is based in Singapore.

Before joining Vertex, Rahul served as a Product Manager at BLOCK71, an incubator and joint venture of NUS Enterprise and Singtel Innov8, where he developed scalable services for portfolio startups and designed mentorship programs. He also gained experience as a Summer Associate at Cocoon Capital, working with the Managing Partner on investment deals.
https://www.linkedin.com/in/rahulthayyalamkandy/

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Vertex Ventures Southeast Asia & India is a pioneer in investing in tech start-ups in this region and has helped to build a number of unicorns. In this podcast, we seek to share and uncover the Hard Truth - raw, unfiltered insights and venture capital knowledge from across Southeast Asia and India. Tune in to learn from leading founders, innovators, venture capitalists, and industry experts in the region and gain industry insights from those in the know.

If you like what you hear, please follow or subscribe to the show so you don’t miss out on any of our upcoming discussions.

—

Follow us to get notified whenever new episodes are shared.

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For more information, please visit: https://www.vertexventures.sg

What is it really like to be a VC when you're not from finance—or even from “the club”?

In this episode, I speak with Puiyan Leung, who’s spent the last 10 years in venture capital, after starting out in a corporate role. She opens up about feeling like an outsider, learning to trust her gut, and what it means to support founders through both the highs and the heartbreaks.

We talk about mental agility, making tough calls, and why being a VC is sometimes a team sport—and sometimes a lonely solo climb.

IN THIS EPISODE
(00:00) What happens when you don’t fit the VC mould?
(02:40) No finance degree, no founder background—so how did she make it?
(04:55) Mental agility vs. rabbit holes: the VC’s balancing act
(07:40) Is VC really about startups—or just the people behind them?
(10:55) Collaboration or solo survival? Why this job can feel lonely
(14:40) “Am I wasting time?”—The self-doubt VCs never talk about
(18:25) Move fast. Be thorough. Pick one—or try to do both?
(21:10) Why sharing your thinking builds better deals
(24:40) The truth about fast deals, long deals… and deals that go nowhere
(27:10) 9 out of 10 startups won’t make it—so how do you choose?
(29:55) Breakups, hard calls, and knowing when to walk away
(35:40) Founders, fires, and staying present when everything is urgent
(40:10) Numbers vs. people: Which really drives venture success?

Puiyan Leung
Puiyan Leung joined Vertex Ventures Southeast Asia and India in 2020 and focuses on opportunities in Southeast Asia.

Prior to joining Vertex Ventures, Puiyan was a Director of Investments and Operations at Singtel Innov8, the corporate venture arm of telco group Singtel. In her role, she built a pipeline of tech startups that fit with the firm’s investment themes and established strategic alliances and managed partnerships with key ecosystem stakeholders.

Prior to that, Puiyan assumed a range of operating roles and once served as Singtel’s Indonesia-based lead in representing the local market development and expansion interests for Singtel’s digital portfolio.

Puiyan is a Kauffman Fellow and graduated with a Bachelor of Electrical Engineering Degree from the National University of Singapore.
https://www.linkedin.com/in/puiyan/

Rahul Thayyalamkandy
Director of Comms & Community, Vertex Ventures SEA & India

Rahul Thayyalamkandy joined the SEA/India team as the Director of Communication & Community in 2024 and is based in Singapore.

Before joining Vertex, Rahul served as a Product Manager at BLOCK71, an incubator and joint venture of NUS Enterprise and Singtel Innov8, where he developed scalable services for portfolio startups and designed mentorship programs. He also gained experience as a Summer Associate at Cocoon Capital, working with the Managing Partner on investment deals.
https://www.linkedin.com/in/rahulthayyalamkandy/

—-

Vertex Ventures Southeast Asia & India is a pioneer in investing in tech start-ups in this region and has helped to build a number of unicorns. In this podcast, we seek to share and uncover the Hard Truth - raw, unfiltered insights and venture capital knowledge from across Southeast Asia and India. Tune in to learn from leading founders, innovators, venture capitalists, and industry experts in the region and gain industry insights from those in the know.

If you like what you hear, please follow or subscribe to the show so you don’t miss out on any of our upcoming discussions.

—

Follow us to get notified whenever new episodes are shared.

—

For more information, please visit: https://www.vertexventures.sg