ANGEL INVESTOR

I had very recently come across the term "compassionate capitalism" and more precisely I encountered it only on the day following the death of a doyen of the corporate world - Late Ratan Tata. The term kept flashing on some TV channels telecasting the sad news and hailing the achievements of this great personality - a Padma Vibhushan awardee, who breathed his last on that fateful day of 10th October 2024. I searched Google to know something more about the concept of "compassionate capitalism" and learnt that in simple terms it is a business philosophy that combines capitalism with compassion and social responsibility. This philosophy perfectly aligned with the persona of Late Ratan Tata who was much admired and respected by all who knew him or learnt about his lofty ideals and many great achievements in life. While he received ample recognition for his business acumen, leadership skills, patriotism and philanthropy many feel he did not receive enough accolades during his lifetime. There is a strong belief among many that he truly deserved the Bharat Ratna award before he passed away. While we are quite familiar with the professional journey of the late Ratan Tata, there is surprisingly little information available about his personal life, which leaves us wondering why he chose not to marry despite having some romantic encounters in his younger years. Many people speculate about a potential relationship with Simi Garewal, whom he reportedly dated for a while, as they appeared to share a wonderful chemistry in terms of looks, grace and sophistication. However, this perspective is purely speculative, and we can only imagine what kind of partnership they might have had in reality. If physical appearance and charm were the criteria for evaluating someone's value, both Ratan Tata and Simi Garewal would undoubtedly have excelled. Ratan Tata, even in his later years when he was frail, continued to inspire the younger generation, which challenges the notion that today's youth struggle to accept the views of older individuals with their so-called outdated values. So, what set Ratan Tata apart from this stereotype? Was it his remarkable presence or something deeper? A close friend of mine believes that while there are many industrialists with skills comparable to or even surpassing those of Ratan Tata, he distinguished himself through his humility and genuine care for others. This compassion extended to young entrepreneurs, as he took on the role of an angel investor for numerous promising start-ups across the nation. After retiring, he fully embraced the start-up ecosystem, contributing to the growth and success of over fifty start-ups, including well-known names like Snapdeal, First Cry, Ola, Paytm, and Lenskart. Another close friend, who prefers to remain anonymous, is a senior citizen in his mid-sixties with exciting plans for a new business. He aims to create a unique recreational centre for older adults, focusing on sports, games, instrumental music, foreign languages, and computer skills. His vision includes various recreational and educational facilities, such as a golf course, a couple of tennis courts, a pickle ball court and a swimming pool. He had already prepared a pre-feasibility report for his project and was considering reaching out to RTN Associates, the personal firm of Ratan Tata, for technical and financial support. However, he felt uncertain about moving forward due to concerns about being dismissed because of his age. Just as he was ready to initiate discussions, he learned of Ratan Tata's passing, which left him quite disheartened. Unsure if the new leadership would be supportive, he assumed they wouldn’t be. He then sought a loan from the State Financial Corporation, but unfortunately, he was politely turned down due to his advanced age. The same fate awaited him when he approached various banks, both private and public. Despite the ongoing challenges faced by the elderly, my friend is not one to give up easily. He significantly lowered his expectations for the project, adjusted the range of services he would provide, and redefined the type of customers he originally envisioned. Initially, he intended to establish a tutorial service centre on the second floor of his home, using his own savings, but on a smaller scale to meet the needs of both children and adults. The services he plans to offer include classes in basic computer skills, foreign languages, and piano lessons. Thanks to social media and word of mouth, he has sparked interest among many, resulting in a considerable number of genuine inquiries, especially for piano lessons. The last I heard, my friend is all set to move forward with his small business venture and is still hopeful for the arrival of another angel investor like Ratan Tata, who could help him realize his original dream project.