Former Flipkart Senior Director of HR, Satheesh KV has joined LetsVenture as an Advisory Board Member and Chief Evangelist for its new business unit MyStartupEquity – a platform focused on ESOP Management and ESOP Liquidity in Indian startups.
Satheesh is a leader in the talent domain, having led the ESOP policy at Flipkart, which has created the largest ESOP liquidity events among Indian startups. He currently advises startups on all aspects of Talent and HR via his own startup ConnectEcho Talent Labs. Until recently Satheesh was heading People Excellence at xto10x Technologies (Binny Bansal’s technology enabled consulting firm).
LetsVenture is developing a product designed to enable Indian startups to efficiently manage their ESOPs. Along with the product, LV has launched a “#LetsTalkESOP” campaign which has received endorsement from top founders and investors. The #LetsTalkESOP campaign will provide educational content for startup employees to better understand the nuances of ESOP. Moreover, the campaign will publish best practises for the ecosystem.
“One of the biggest magnets to attract top talent to early and growth-stage startups is promising wealth creation through ESOP. ESOP is a key tool and a great opportunity for startup employees to create wealth. However, it’s seldom understood & remains to be an unsung hero in the reward structure. Very few startup founders have leveraged its full potential. Being in ‘Rewards’ for a decade, I feel excited to work with LV’s MyStartupEquity. The idea is to build awareness on ESOP to talent, founders and the entire ecosystem. Also, we will create a structure to provide liquidity. This enables us to create a meaningful impact to the ecosystem,” Satheesh KV, Advisory Board Member & Chief Evangelist, MyStartupEquity.
“LetsVenture was founded with the vision of making early stage funding easy and transparent. Over the last 6 years, we have organised this space with 225 startups raising close to INR 600 cr on the platform. As the ecosystem matures, the opportunity to create liquidity for all stakeholders in the ecosystem – founders, investors and employees – is critical. Our vision is to become the key enabler in organising this asset class. Satheesh coming on board is a validation for us of the value and opportunity ahead of us,” Shanti Mohan, Co-founder & CEO, LetsVenture.
MyStartupEquity is presently in beta. It is being used by some of India’s unicorns as well as growth stage startups to manage their ESOPs. The platform enables companies to seamlessly manage ESOPs across the lifecycle from granting, exercising and ultimately liquidating the ESOPs. It will also provide content to empower founders, employees and investors to deeply understand ESOPs. Also, they can access a vibrant community for discussions and sharing of best practises.
“In the last decade, the Indian startup ecosystem has witnessed the creation of large valuable companies which have thousands of employees with ESOPs worth $4-5 billion. These employees participated in the risk of startups, with ESOPs being a major component of their compensation. While there are policies around granting & vesting of ESOPs, there is no policy or visibility given to employees on the liquidity of these ESOPs – this is especially important as Indian startups are expected to remain private for 12-15 years. With Satheesh onboard, LV is able to help companies create a balanced approach to ESOP liquidity. And, LV drives meaningful discussions between founders, HR heads and board members on this important topic,” Ganesh Nayak, Director, LetsVenture.