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Rafiq Ahmed and Mitul Patel and Why Sustainability Matters in Venture

11/04/21 – Episode 5

On today’s episode, we sit down with Rafiq Amed and Mitul Patel, partners at Dipalo Ventures. Emily and our guests chat about how being founders have impacted their investment approach, why Dipalo’s residency program is unique and the importance of sustainability in venture.

About Rafiq Ahmed and Mitual Patel:

Rafiq Ahmed moved to the US from Bangladesh to attent West Virginia Wesleyan College where he received his BS in Electrical Engineering. He furthered his education at Virginia Tech, receiving his MS and MBA. Rafiq began his career in consulting working for companies including Price Waterhouse Coopers and Fannie Mae. He then transitioned to a design and product role at Motorola before founding Demibooks and Nameless Ventures. Rafiq is currently Managing Director at Dipalo Ventures, and is a mentor at Techstars Chicago, Bangladesh Angels and gener8tor.

Mitul Patel attended University of Illinois-Urbana Champaign where received his BS in Computer Engineering. He later Illinois Institute of Technology where he receive his Masters in Electrical and Computer Engineering. Mitul’s career started with Motorola as an Electrical Engineer, and he took on senior roles as he grew with the company. Mitul is currently a Venture Partner with Dipalo Ventures, Managing General Partner at A Making Company, CEO and Chairman of The Aarush M. Patel Foundation and CEO of MP Consulting which he founded in 2015.

In this episode with Rafiq and Mitul, you’ll learn:

  • How Rafiq and Mitul got into investing
  • Why they invest in hardtech and cleantech
  • How they utilize their engineering and entrepreneurship backgrounds with their investments
  • The value-add of Dipalo’s Residency program
  • The importance of sustainability in venture
  • How what they look for in a founder and pitch deck differs based on their roles
  • Advice for founders and aspiring investors
  • Their take on the startup scene in Chicago

Mentioned in this episode…

Companies:
Dipalo Ventures
MP Consulting
Motorola
Demibooks
Jiobit
Clean Energy Trust
Mito Materials
Car Scanner
Ascent Integrated Tech
Allergy Amulet
Techstars
Bangladesh Angels
gener8tor

People:
Rafiq Ahmed
Mitul Patel
John Renaldi
Roger Ady
Haley Keith
Kevin Keith
Abigail Barnes

Enjoy this episode and subscribe to Portfolio Pitch wherever you listen to your podcasts!

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