Apt Venture Capitalist: The Invisible Co-Founder

In a dimly lit office in Hyderabad’s Kondapur district, an extraordinary story is unfolding - one that redefines the role of venture capital in India’s audacious startup landscape. Here, 30-year-old Rakesh Vaddadi commands Beacon.li, an AI multi-action orchestration startup that has catapulted from concept to multi-million dollars with unicorn clients in a breathtaking six months. But beneath this meteoric rise is a critical yet often unseen force: Bikram Mahajan, currently Partner at Unicorn India Ventures - a figure whose unorthodox approach has made him the quiet architect behind many of India’s standout startups.

Where conventional VCs preach strategy from lofty perches, Mahajan wades into the trenches, rolling up his sleeves alongside founders and teams. With two decades of investment acumen, he’s seen startups teeter on the brink of failure and has shepherded others to IPO fanfare. To the founders he supports, he’s not merely an investor but a co-pilot, an architect, an “invisible co-founder.”

“When Bikram joined our board last October, he didn’t just advise us; he issued a battle cry,” Vaddadi recalls, still marvelling at Mahajan’s audacious $100K ARR in 100 days challenge. For Vaddadi, who was then closing pilot deals at $500 a pop, the dare bordered on preposterous. Yet, as the clock struck Day 100, Beacon’s revenue crossed that daunting threshold. For everyone else, it was a shock; for Mahajan, it was validation. “Bikram made us believe,” Rakesh says, his voice still tinged with the adrenaline of that moment. “He didn’t just raise our bar; he obliterated it.”

“In the startup world, it’s rare to find an investor who becomes a true partner, mentor and backbone when things get tough”, Vaddadi reflects. “Bikram has been that anchor for us. His support has gone beyond financial backing; he’s been like an invisible co-founder, guiding us through every challenge and reshaping our strategy and execution. When we faced our toughest moments, he didn’t just give advice - he got hands-on, helping us recalibrate and steer back on course. We are beyond grateful for Bikram’s unwavering belief in us and our mission. His guidance has been transformative, and we couldn’t ask for a better partner on this journey."

Mahajan’s “co-founder effect” is hard to quantify but impossible to ignore. When Vodex, a voice AI startup, faced the formidable challenge of a strategic pivot, uncertainty loomed large. Mahajan stepped in with steady wisdom that went far beyond a typical investment, reimagining the product vision, sharpening sales strategies, and offering essential guidance on fundraising. In just six months, Vodex skyrocketed to $10 million ARR - marking one of the fastest growth trajectories for an AI startup in India. “Bikram doesn’t just give advice; he immerses himself in the trenches,” says co-founder Kumar Saurav. Anshul Srivastava, Vodex’s other co-founder, is even more emphatic: “He’s our secret weapon, our third co-founder when we need him most.”

Mahajan’s fingerprints are scattered across some of India’s most inspiring startup stories. In Bhubaneswar, Akanksha Priyadarshini credits Mahajan for transforming Aurassure from an IoT startup into a global climate AI leader in under a year. “Bikram has been more than an investor; he’s a true partner,” she says. “His strategic insight shaped our product, refined our go-to-market strategy and guided key decisions. His belief in my vision and constant support have been invaluable.”

Mahajan’s first major triumph came in 2010 with Vini Cosmetics, a story now woven into startup lore. He backed founders Darshan and Dipam Patel, whose product Fogg sparked a cultural phenomenon with its “no gas” deodorant innovation “It wasn’t just a product; we were rewriting the rules,” Mahajan reflects, his voice tinted with nostalgia for those heady days. It was his first unicorn, long before “unicorn” entered the startup lexicon.

When labelled “The Invisible Co-Founder,” Mahajan laughs, his trademark deadpan humour on full display. “If only that were true,” he quips, brushing off the title. “VCs love basking in founders’ reflected glory. The founders are the real visionaries,” he insists. “I’m just there to knock obstacles out of their way and, maybe, just maybe, nudge them to aim a little higher. If that makes me a co-founder, then so be it. But let’s not kid ourselves; they do the magic.” Those who’ve worked with Mahajan know better. His influence runs deep, shaping every major pivot, every strategic leap, every defining success.

Sandeep Nair of Venttup, Mahajan’s latest investment, puts it succinctly: “We’ve had investors, and we’ve had mentors, but Bikram is different. His alignment with our mission is so complete that it feels like we gained a co-founder - not just a backer. And that’s incredibly rare.”

For Mahajan, venture capital isn’t about boardroom theatrics or captable power plays. It’s about being there for founders in the crucible moments, those pivotal junctures where dreams are realized or lost. “Invisible co-founder” might sound like a clever moniker, but to the founders he’s transformed, it’s his legacy - a legacy built not in the limelight but in the shadows, his influence etched into India’s most promising success stories as an invisible hand quietly steering them toward greatness.