'Success isn't about a single brilliant idea; it's about the relentless execution, the ability to withstand the storms and the unwavering belief in your mission even when no one else sees it,' says Madhu Lunawat, founder, The Wealth Company.
When Madhu Lunawat became India's first woman to independently set up a mutual fund house -- The Wealth Company -- it wasn't a just leap of luck; it was also an important milestone in a decade-long journey of conviction, grit and vision.
Her path to this point wasn't straightforward.
Though she had already broken barriers as the chief financial officer of Edelweiss ARC, an asset reconstruction company, and co-founded Pantomath, a financial services firm, launching The Wealth Company -- a research-driven, impact-focused asset management firm -- was something different entirely.
Along the way, Lunawat faced plenty of dismissals and doubt. Instead of letting that stop her, she turned each setback into fuel.
"I believe that wealth creation should not be a privilege reserved for those in metropolitan cities," she tells Rediff's Prasanna D Zore.
What was the turning point that made you take the plunge into entrepreneurship and start Pantomath with your husband instead of choosing the comfort of a senior corporate role?
For me, it wasn't a single turning point but a growing conviction.
While my corporate journey, especially my time as CFO at Edelweiss ARC, was incredibly rewarding, I saw a gap in the market that I couldn't ignore.
We were witnessing a massive wave of aspiring entrepreneurs in India's smaller towns and cities who had the vision but lacked access to the right capital and guidance. The conventional financial ecosystem was not built for them.
Starting Pantomath was about building a bridge for these entrepreneurs. It was a plunge, yes, but it felt more like a calling. We wanted to move from a structured corporate environment to building something from the ground up that could redefine wealth creation for a much larger, often overlooked, segment of India.
It was about creating impact on our own terms and that sense of purpose was far more compelling than the comfort of any senior role.
You have described bringing a private equity mindset to mutual funds. Where did the discipline and conviction come from? Was it honed in your early days or born out of the challenges of scaling Pantomath?
The discipline and conviction are a blend of both.
My early days in the corporate world, particularly in structured finance and stressed asset resolution, taught me the importance of rigorous due diligence and financial discipline. You learn to look beyond the surface and understand the fundamental strength of a business.
However, scaling Pantomath truly forged this conviction.
When you are investing in small and mid-sized enterprises, you don't have the luxury of relying on extensive analyst coverage. You have to get your hands dirty, meet the founders, understand their vision and assess their execution capabilities firsthand. This experience of backing high-growth companies from the ground up ingrained in us a 'private equity' mindset -- a long-term, high-conviction approach.
We are not just picking stocks; we are investing in businesses and their growth stories. Bringing this deep, research-driven discipline to the mutual fund space feels like a natural evolution of our core philosophy.
When SEBI finally approved The Wealthy Company AMC, making you the first Indian woman to independently set up a mutual fund house, what went through your mind?
It was a surreal moment, a mix of overwhelming gratitude and a profound sense of responsibility.
It was the culmination of years of relentless effort and keeping the faith when the odds were stacked against us.
This license isn't just a personal achievement; it's a commitment to the millions of investors who will trust us with their hard-earned money.
We are building a truly world-class asset management company that stands for integrity, transparency and democratising wealth for all.
You have often spoken about democratising investing for smaller towns and first-time investors. What made you believe in this?
I've encountered this countless times!
Some people wouldn't take me seriously, others avoided eye contact and a few 'enlightened' ones even cancelled meetings upon learning a woman was attending.
Judgment is everywhere around us. It's completely normal to feel like giving up in those moments but that's never truly an option.
When I'm feeling down, I wrap up the day early to limit the impact, sleep on it and gear up for fresh challenges the next morning. Plus, when your purpose is rock-solid and you're deeply passionate about what you do, these hurdles become mere bumps in the road -- best taken with a pinch of salt.
That experience is the bedrock of my vision.
I believe that wealth creation should not be a privilege reserved for those in metropolitan cities.
Our goal is to break down the barriers of complexity and access, using technology and simple, transparent products to empower every Indian, regardless of their background, to participate in the country's growth story. It's a mission that is deeply personal to me.
From CFO at Edelweiss ARC to building alternative investment funds and now launching a mutual fund -- what are some personal productivity or mindset practices that keep you grounded and focused?
There are a few core principles that I live by:
1. Compartmentalisation: I am very disciplined about focusing on one thing at a time.
2. The power of 'no': As you grow, the demands on your time multiply. Learning to say 'no' to things that are not aligned with my core priorities is essential. It's about protecting my time and energy for what truly matters
3. A strong support system: I am incredibly fortunate to have a like-minded, supportive and phenomenal team
4. Daily reflection: I start my day with a few minutes of quiet reflection and planning. It helps me set my intentions, prioritise my tasks and stay connected to my larger goals. This practice keeps me grounded amidst the chaos.
Many young entrepreneurs think success comes quickly. What did patience, resilience and long hours teach you that you wish every young founder would understand?
I would tell them that entrepreneurship is a marathon, not a sprint. The overnight success stories you read about are usually the result of years of silent, unglamorous hard work.
Patience taught me that great businesses are not built in a day; they are nurtured over time with consistent effort and a long-term vision. Less than 10 per cent businesses survive beyond five years.
Resilience is the muscle you build every time you face a setback.
There will be countless moments of doubt and failure. The key is to see every challenge not as a dead end, but as a lesson. The long hours are inevitable, but they teach you the value of grit and perseverance.
Success isn't about a single brilliant idea; it's about the relentless execution, the ability to withstand the storms and the unwavering belief in your mission, even when no one else sees it.
If you had to give one message to India's youth who dream of building something big, what would it be?
Start where you are, with what you have but never lose sight of why you started.
Don't wait for the perfect idea or a huge amount of funding. Start with solving a problem you are passionate about, something that genuinely matters to you.
Do, however, see that your business is a scalable one and is profitable. Your 'why' will be the fuel that keeps you going through the inevitable challenges.
Work hard, cut out all noise and be selfish.
India is a land of immense opportunities and there has never been a better time to build. Believe in yourself, and have the audacity to dream big.
Finally, what is the unknown or surprising habit, hobby or belief of yours that has quietly played a role in shaping your entrepreneurial journey?
It might surprise people, but I am deeply introverted and protective of my time and energy.
I don't go to parties and I don't believe in 'networking' in the traditional sense of attending endless events to exchange business cards.
My core belief is that the strongest connections are built on substance and authenticity, not just social gatherings.
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