hile presenting the Budget for 2014 Arun Jaitley emphasised on the important role played by entrepreneurs in the growth of an economy. The change in the government's outlook towards start-ups emphasises that entrepreneurs are a critical vehicle for driving job creation and economic growth in a developing country. It is therefore important to nurture and aid entrepreneurs to build their dream projects as it is not just in their best interest but also in the best interest of the economy.
"We realize that entrepreneurs have the vision and the ability to make their dreams come true. And when their visions get larger they need capital to tie their dreams together," explains Saurabh Dafria, Founder of Phinnacle Wealth Managers Pvt Ltd. The young firm helps small and medium size companies raise capital for growth.
Befitting the company's objective, the founding team themselves are first generation entrepreneurs who wanted to control their own destiny, deliver real value to the clients they served, and work with team mates that share the same values and passions that they do. Bitten by the entrepreneurial bug Saurabh decided to take the plunge by incepting Phinnacle along with his mentor and guide Siddhartha. Today his organization is one of the most respected names in the wealth management industry.
"I never imagined it would become more than a consultancy, or a small business. Phinnacle has grown through both strong organic and inorganic growth. We work hard to remember the lessons that first spurred us to start the company," explains Saurabh. The firm has recently finished a multi-million dollar funding for HGPT Malaysia.
The company's emphasis since inception has been on budding entrepreneurs. Fund raising for business, which are looking for growth capital; the growth could be in the shape of order book expansion, capital expenditure, undertaking a new project.
For Entrepreneurs, By an Entrepreneur
Saurabh enumerates, "Raising investment capital for entrepreneurs isn't easy, and they understand that getting the best valuations and presenting the same to investors can be best done by an expert consultant only." This is where Phinnacle steps in by linking entrepreneurs to Angel investors and providing them with advice on financial planning. The company staunchly believes in bridging the gap between the entrepreneurs and the investor expectation, ensuring in-sync value creation. But overall they insist on focusing on the entire process than binding themselves by defining the scope of work. Phinnacle's major focus domains are Energy and Real Estate.
At times however, the most elementary solutions for financing a start up are right in front, but are shaded by a blind spot. Only someone with a new way of looking can do the trick. Saurabh elucidates, "Companies often need a fresh set of eyes ï¿½ youï¿½d be amazed at the amount of value consultants can add based on the most mundane observations and insights which can fetch clients with better valuations or cheaper interest rates."
In order to retain the ability of seeing the world with new lens, shredding the old ones is indispensable i.e keep reinventing strategies and letting innovation take the front seat. Saurabh adds, "Opportunities and survival are the biggest Innovators and that demand necessitates innovation and change. We half yearly meet at a holiday destination to relax and rethink about our past on the road map ahead. I guess it's the best way to strategies and innovate by relaxing your body, mind and soul".
The unusual sounding name of the company "Phinnacle" is equalled by the unique and thoughtful meaning it reflects. 'Phi' in essence is the natural progression in the universe, and Pinnacle stands for highest point, so the word Phinnacle, essentially means 'Natural progression to the top'. Since its inception, upwards has been the only direction the company's fortunes are going. The company has helped companies such as BKS textile, HGPT-Malaysia, Mecolam, Onmobile, Ravi Spices, Sri Family Biz, IBD Universal and Naavinya Cadsoft to raise funds.
Their immediate goal for the future is to leverage their experience in the Energy sector, which includes interacting with Energy Ministries, World Bank, Asian Development Bank, Utility companies, Multinational Banks and Private equity firms among others to source funds for prospective projects and deserving companies. With Phinnacle's Corporate Office in Bangalore they now plan to spread their wings with offices in Kuala Lumpur, Singapore, Jakarta and Dhaka. "South East Asia is the next growth market and I intend to make a difference in this region by bringing in my knowledge, experience and network to set up world-class energy hub."