Anjula Acharia On Becoming An “Accidental Investor,” Following Her Intuition and Working With Priyanka Chopra
“I’ve learned to trust my instincts over time and ignore the noise around them…”
Entrepreneur. Angel Investor. Philanthropist. Pop Culture Enthusiast. Mentor. It doesn’t matter which hat she’s wearing, Anjula Acharia is a force to be reckoned with, excelling at empowering others while being a self-made success story within her own right.
Having started her company, Desi Hits, in 2006 Anjula has gone on to invest in tech start-ups that have turned into billion dollar companies (think ClassPass and Bumble), while working closely to advise some of the biggest names in Hollywood – Priyanka Chopra being one of them.
From her journey as an angel investor to advice on attain success as a woman in tech and business, Bazaar sits down with Anjula to ask her a few key questions about how she got her start in investing, funding female-led businesses and working closely with Priyanka Chopra.
Harper’s Bazaar Arabia (HBA): How did you decide to become an early stage investor? Tell us how it all began…
Anjula Acharia (AA): I like to refer to myself as an ‘accidental investor’ because I never really made a conscious decision to become one. Payal Kadakia’s CLASSPASS was the first company I ever invested in, and I was actually her very first investor too. I was an entrepreneur at the time running an entertainment platform called Desi Hits! Payal approached me for advice and our relationship sort of developed from there. CLASSPASS is now one of the few female founded billion dollar companies, which really is a testament to her vision and persistence.
Soon after, other female entrepreneurs started to approach me, like Kathryn Minshew from Muse and the founders of YUMI, (Angela & Evelyn), the leading childhood nutrition company. I guess my reputation began to spread that I have a passion for helping amazing female entrepreneurs and my portfolio started rapidly expanding.
Initially, I started with small contributions, but over time as I became more successful I was able to contribute more. I enjoy investing into things I use in my own life and not limiting my involvement. I love working on the marketing, product development, and celebrity endorsement side of the brands I work with too.
HBA: We know you work closely with Priyanka Chopra. Could you tell us a bit about how it’s like working with her and anything interesting about your relationship with her?
AA: Priyanka and I share a very unique relationship – I actually don’t like calling myself her manager because we really operate more like business partners.
We work very collaboratively and every day we become increasingly more innovative in our approach – meetings often feel like entrepreneurial brainstorms as we discuss businesses we’re already in the process of building together. I love seeing her work creatively and watching her produce and dissect creative opportunities with such precision and integrity.
HBA: According to some sources, you were discouraged to sign Priyanka, with some individuals telling you not “waste your time,” but you went with your instinct. In the end, why did you decide to make the decision to work with her?
AA: It sort of makes me laugh now when I think about this, but I also get it; no one has ever done what Priyanka has. She commands and influences huge continents in a way no one else can, so I understand why it was hard for many people to grasp that someone could actually be capable of what she’s accomplished. W
When I first went to India and asked Priyanka to take this leap of faith with me and my partner, Jimmy Iovine, I had a very strong instinct that if anyone could do this It would be her – I’ve learned to trust my instincts over time and ignore the noise around them. Jimmy explained that he had received similar criticism when he signed Eminem; that gave me a lot of confidence in following my intuition.
HBA: Can you share insight what has made you successful, along with your journey as a female entrepreneur?
AA: Ultimately, I believe investing in women makes money and I put my money where my mouth is.
Typically I like to invest early on when a company is at seed stage or is just a unique idea waiting to be brought to life. My approach to investing is recognising talent first. Even if the market and whitespace is there, I have to believe the entrepreneur is uniquely talented to solve the problem they are trying to tackle and it’s often driven by a personal story.
I love marketers and women who can become brands themselves because they stand for something and can move an industry. Whitney Wolf Herd, who founded Bumble, is the perfect example of that; she built a global brand and so much of her vision was based on her personal story. Priyanka and I invested and worked with her to expand the business into South Asia (Priyanka was the face of that campaign, which was hugely successful), however, Whitney first caught my eye in 2015 when we were both part of ELLE Magazine’s Women In Tech issue.
I knew then she was a woman to watch, and I was right; today Bumble’s market cap is over 10 billion.
HBA: Why did you decide to launch Desi Hits!?
AA: I was inspired to create Desi Hits! because I wanted a platform that had the best of East and West content mixed with a fusion of both. It was a personal journey of living in these two worlds and creating content for a global South Asian community.
I had a painful journey growing up in the UK in the 80’s when there were very few people of colour around me and almost zero representation on TV or in film. When there was inclusion, we were reduced to gross racist stereotypes. I had a deep desire to change that through inclusive content, and working with mega stars like Lady Gaga and Britney Spears was a game changing moment.
HBA: You’re a very busy woman. How do you manage your time with everything on your plate?
AA: That’s a great question. Honestly, I just take everything as it comes. The people I work with have become some of my closest friends, so that’s been so helpful when it comes to managing things. Work doesn’t often feel like work when you’re brainstorming and finding ways to disrupt industries with friends!
HBA: Who is your biggest inspiration?
AA: I have a few!
Indra Nooyi – today I get to call her a friend and mentor, but for many years I watched her from a far excelling in corporate America.
Jimmy Iovine believed in me and my vision very early on. He taught me so many valuable lessons, but mainly that success isn’t limited to one opportunity and that, like all of us, I am an album not a single — which means even though I failed at my first venture, it wouldn’t stop him from investing in me, because he believed I was an album capable of so many more things. Figuratively speaking our next single was partnering with Priyanka Chopra Jonas – and that was definitely a hit.
Jewellery: Isharia, Dress: Bibhu Mohapatra
HBA: Are we really getting closer to gender equality when it comes to female entrepreneurs and investors?
AA: A small percentage of Venture capital only goes towards female founded businesses; however, we’re making our own moves too.
I recently became an LP (investor) in BBG Ventures (Built By Girls), which is a 50 million dollar fund for female founded companies led by Nisha Dua and Susan Lyne. I see more and more funds like this beginning to pop up. The Female Founders Fund just closed over 50 million dollar too, it’s so exciting to see this movement come to fruition that has been needed for so long.
HBA: Can you share any insight into any exciting projects you’re working on?
AA: Within the last year, COVID really gave me the opportunity to focus my time on other creative projects. I’m currently in the process of finishing my first fiction novel, and producing television and a film with Priyanka, which has helped me get my creative juices flowing!
Lead image supplied