Realtime Angel Fund: Democratizing Early-Stage Investing with a Founder-Friendly Lens
In the high-velocity world of Indian startups, the gap between a great product and a scalable business is often a bridge too far for early-stage founders. Pranay Mathur, the Partner & CEO of Realtime Angel Fund (RTAF), is on a mission to build that bridge. A first-generation entrepreneur from Jaipur, Mathur spent a decade building a global technology firm from the ground up before transitioning into the world of venture capital. Today, RTAF stands as a SEBI-registered Category 1 AIF that prioritizes "founder-friendly" terms and strategic mentorship over the aggressive tactics often seen in the industry.
Mathur's journey is a masterclass in bootstrapped resilience. From serving global giants like Red Bull and Disney from his Jaipur hub to hosting the first major VC events in Rajasthan, he has been a pivotal figure in transforming the state into a Tier-1 startup hub. By launching the **Seedly** accelerator program and leveraging a network of 400+ global CFOs and corporate executives, Mathur is ensuring that the next generation of Indian innovators has more than just capital—they have a roadmap to sustainability.
The Jaipur Evolution
Jaipur, once labeled a Tier-2 city, is now a thriving hub for "Unicorn" DNA. With successes like **CarDekho**, **DealShare**, and the early roots of **Razorpay's** founders, the city has proven that global technology powerhouses can be built outside the metros. Pranay Mathur was among the first to evangelize this ecosystem, bridging the gap between local talent and national capital.
From Software to Strategy: The Founder's Pivot
Pranay Mathur caught the entrepreneurial bug early. In 2010, at just 25 years old, he launched his technology company without the safety net of a startup ecosystem. He focused on a simple but critical expertise: transforming business problems into digital solutions. His firm successfully served heavyweight clients like Ernst & Young, Apollo Pharmacy, and Zynga, providing the wealth that allowed him to start giving back to the community.
"Founders know how to solve the problem, but they often get stuck because they don't have access to early-stage funding," Mathur observes. This realization led to the founding of Realtime Angel Fund. Alongside partners who are themselves Global CFOs, Mathur created a fund that doesn't just ask for Mis reports and Excel sheets—it "dates" the founder for 8 to 12 weeks before investing to ensure a deep alignment of values and vision.
"We are not sharks; we are founder-friendly people. Angel investment is strategic. You don't just put in money and wait for an Excel sheet once a year. You work closely with the founder to solve the real-world gaps in corporate governance and strategy."
The Realtime Thesis: Beyond the MVP
RTAF occupies a specific niche in the funding landscape. They don't invest in pre-seed ideas; they look for Late Seed or "Growth-Stage Angel" opportunities. This means the founder already has a product and initial traction but needs the strategic muscle to scale to a larger customer base.
The RTAF Investment Filter
- Founder Pedigree: Looking at the background and resilience of the people behind the idea.
- Impact Potential: Does the problem being solved have the capacity to make a larger-scale impact on the market?
- Innovation Check: Is there a genuine technological or process-driven innovation at play?
- The "Dating" Period: An 8-12 week engagement to understand the founder's mindset and spending habits.
Scaling Success: My Mandi, Capital Setu, and Lar Ki
The proof of RTAF's strategy lies in its portfolio. One of their earliest investments, My Mandi—a B2B marketplace for cart pushers—scaled from one city to four within months of RTAF's involvement and went on to raise funds from Ratan Tata. Another standout is Capital Setu, which is solving complex supply chain financing for SMBs, attracting Marquee investors like Ashish Kacholia to the cap table.
Perhaps most revolutionary is Lar Ki, which has developed portable ECG machines for physicians in Tier-2 and Tier-3 cities. By reducing the cost of an ECG machine from ₹1.5 lakh to ₹25,000, they are enabling early detection of cardiac issues in remote villages—a mission that has earned them recognition and grants from the UK and Abu Dhabi governments.
RTAF: Portfolio at a Glance (Jan 2026)
- Average Ticket Size: ₹1 Crore (approx. $125k) per startup.
- Investor Network: 400+ Experts, Global CFOs, and Corporate Executives.
- Deal Count: 20+ successful deals closed in the current fund.
- Accelerator: Seedly - a highly personalized mentoring and strategy program.
- Retention: Majority of portfolio companies have successfully raised follow-on "top-up" rounds.
Founder's Wisdom: The Fundraising Roadmap
Pranay Mathur is candid about the mistakes he sees early-stage founders making, particularly around equity dilution. He warns that giving away 20% of your company for just ₹1 Crore makes no sense. Instead, he advocates for a structured approach to raising capital:
Pranay's Guide for Fundraising Success
1. Prototype First: Use your own savings or government grants to build a minimum viable product. Don't approach investors with just a slide deck.
2. Family First: The first backers should be people who know you best. If your own network doesn't believe in you, strangers won't either.
3. Be Frugal: Investors watch how you spend early money. Avoid flashy offices and unnecessary overheads until the business model is proven.
4. Strategic Alignment: Look for "Strategic Angels" who bring more than just cash. You need connections to high-level corporate networks to drive sales.
The Meaning of Entrepreneurship
For Pranay Mathur, entrepreneurship is a perpetual cycle of learning and giving back. He believes that the "hunger" to solve a problem must be the primary driver, with fame and wealth being secondary consequences. As he continues to onboard Marquee investors like Anuj Maheshwari (Group CFO of Kanmo Group) and Anil Malhotra (CEO of H&M Indonesia) into the fund, his focus remains on the "grassroots" of Indian innovation.
As RTAF expands its reach, it stands as a testament to the power of Founder-First Investing. In the competitive race for the next Indian unicorn, Pranay Mathur is ensuring that the winners are those who build with transparency, sustainability, and a deep respect for the entrepreneurial spirit.
About the Guest
Pranay Mathur is the Partner and CEO of Realtime Angel Fund (RTAF). A first-generation entrepreneur based in Jaipur, Pranay has over 15 years of experience in the technology and investment landscape. He built a successful bootstrapped tech firm in 2010, serving Fortune 500 clients globally before transitioning into Angel Investing. He is the founder of the **Seedly** accelerator program and a recognized leader in the Rajasthan startup ecosystem. He is a passionate advocate for corporate governance and founder-friendly capital structures, dedicated to helping early-stage Indian startups scale into global institutions.
Realtime Angel Fund (RTAF) is a SEBI-registered Category 1 Alternative Investment Fund (AIF) specializing in early-stage investments. With a network of over 400 global corporate executives and CFOs, RTAF provides strategic capital and intensive mentorship through its personalized accelerator program. The fund focuses on supporting innovative startups with strong founder pedigrees and high-impact problem statements, helping them navigate the journey from post-MVP to sustainable growth.