In the fast-paced world of startups, where ideas rise and fall every day, there are a few names that stand out for their consistency, vision, and deep understanding of what truly builds a business. One such name is Devang Mehta, a veteran venture capitalist, advisor, and early-stage investor who has spent over 25 years shaping India’s entrepreneurial ecosystem.
From being a Computer Science graduate and an MBA from the prestigious Tepper School of Business, Carnegie Mellon, to becoming a trusted advisor for startups and venture capital funds, Devang Mehta story is one of resilience, passion, and long-term impact.
Today, he continues to play a pivotal role in guiding entrepreneurs and funds through the complex world of venture investing, with a focus on strategic depth, operational insight, and genuine founder empathy.
The Beginning: A Love Affair with Venture Capital
Some careers are chosen. Others are discovered through passion. For Devang Mehta, the spark ignited during his final semester at Carnegie Mellon University, where he was introduced to the intricate yet exciting world of venture capital.
“I fell in love with Venture Capital during my last semester at CMU,” he recalls. “Since then, I have been in the industry as part of founding teams at startups as well as a Venture Capitalist.”
That single moment of fascination turned into a lifelong journey. While most of his peers took the conventional corporate route, Devang Mehta decided to take the road less travelled, building a career around startups, innovation, and investment strategy.
His first step wasn’t easy. Venture Capital, as he describes it, is a “cottage industry,” a world that’s difficult to enter and even harder to leave.
“Getting into venture capital proved to be challenging at the onset,” he admits. “I networked extensively to land my first role. I also bolstered my profile through extensive operational and investing activity, and through academic credentials.”
This combination of networking, learning, and persistence eventually paid off, paving the way for a distinguished career that would impact numerous startups and founders over the decades.
The Philosophy: A Holistic Approach to Startup Success
Devang Mehta approach to venture investing and advisory stands apart from the usual crowd. While many focus purely on numbers, spreadsheets, valuation metrics, and pitch decks, Devang Mehta believes that a startup’s success depends on much more.
“A lot of advice startups receive is ‘Excel-driven’, fine-tuning financials and then pitching to a list of VCs. I don’t see many advisors getting into the nitty-gritty of the technology, operations, and go-to-market strategy to give genuine and holistic guidance.”
His methodology reflects a balance between strategic foresight and hands-on operational involvement. Whether it’s evaluating a startup’s tech stack, business model, or its ability to scale sustainably, Devang Mehta perspective is grounded in both logic and empathy.
“I take a holistic approach to any funding scenario,” he explains. “It’s about helping startups see the big picture, not just from the lens of capital, but through people, product, and long-term purpose.”
This philosophy, combining numbers with narratives and finance with human factors, has made Devang Mehta one of the most trusted advisors among emerging founders and early-stage funds alike.
Early Challenges: Breaking into the ‘Cottage Industry’
When Devang Mehta began his journey in venture capital in the early 2000s, the ecosystem in India was still in its infancy. Access to capital was limited, mentorship networks were fragmented, and the idea of being a “startup investor” was far from mainstream.
“It was hard to even explain what venture capital was back then,” he recalls with a smile. “Most people thought it was another form of banking or finance.”
But Devang Mehta persistence was unshakable. He used his engineering and business background to build credibility, and his extensive networking to open doors. Each connection led to a new opportunity, and soon, he found himself working closely with founders who shared his drive and passion.
What truly set him apart was his ability to look beyond the surface, to see the potential in ideas that others might dismiss. Over time, that ability became his hallmark and the foundation of his long-lasting influence in the VC ecosystem.
Overcoming Moments of Doubt
Like any journey filled with uncertainty, Devang Mehta path also had moments where giving up seemed easier.
“Yes, there were several moments where I felt I should give up in favour of stable and cushy corporate jobs,” he says candidly. “But the attractiveness of working with numerous startups, each with wonderfully innovative products, kept me enthused to succeed.”
His passion for innovation and the thrill of helping founders turn ideas into scalable businesses became the fuel that pushed him forward. Every success story, every founder’s breakthrough, reaffirmed why he chose this path in the first place.
The Power of Networking: One Decision That Changed Everything
When asked about the one decision that changed his professional trajectory, Devang doesn’t hesitate: networking.
“Extensive networking in the field is an absolute must to succeed,” he emphasizes.
Unlike traditional corporate careers, venture capital thrives on relationships. The trust built between investors, founders, and fellow advisors often determines access to deals, insights, and opportunities. For Devang, being active in the community wasn’t just about visibility — it was about learning, sharing, and contributing.
His network today spans across early-stage founders, angel investors, venture capital funds, and global mentors, making him one of the most well-connected advisors in the startup world.
Helping Startups That Truly Matter
Among the many startups Devang has advised and supported, one holds a special place in his heart — Erlysign, a pioneering company focused on early cancer detection through saliva tests.
“Helping raise funds for and accelerating the growth of Erlysign through multiple investment rounds is easily my favourite milestone,” he says proudly.
It’s not just about business success for him — it’s about impact. Startups like Erlysign are not only financially promising but also socially transformative. Devang’s involvement in such ventures reflects his belief that innovation should make life better, not just richer.
An Advisor Who Understands Founders
One of the biggest strengths of Devang’s advisory style is his empathy for founders. Having been part of startup founding teams himself, he understands the emotional rollercoaster of entrepreneurship — the sleepless nights, funding uncertainties, and the constant push to balance vision with execution.
This empathy allows him to not just advise but mentor. His guidance goes beyond investor decks or valuations — he helps founders see how to build teams, structure business models, and manage growth sustainably.
“I’ve seen the best and worst of startup life up close,” he shares. “That’s why my approach with founders is both strategic and personal. It’s about being the person they can trust when things are uncertain.”
Debunking Industry Myths
A common myth in the startup world, according to Devang, is that one needs to be the only player in the space to succeed.
“A lot of people believe that one has to be the only player in the space to succeed. Usually, in sizeable markets, there is room for at least two or three players with genuine innovation,” he explains.
This insight reflects a deep understanding of how markets evolve. It’s not about monopoly — it’s about meaningful differentiation. If a startup can innovate, execute efficiently, and build customer loyalty, there is enough room for success even in competitive markets.
Vision for the Future
Looking ahead, Devang envisions himself deeply embedded in the early-stage ecosystem, especially in the areas that excite him the most — Healthcare, Biotech, B2B, EdTech, Fintech, and sectors where AI acts as a genuine differentiator.
His vision is to keep empowering founders who are building for the future, not just chasing trends.
“The next decade of Indian entrepreneurship will belong to founders who combine vision with discipline,” he notes. “I want to be part of their journeys and help them build companies that truly make a difference.”
Words of Wisdom for Aspiring Entrepreneurs
When asked what advice he would give to fellow or aspiring entrepreneurs, Devang Mehta response is simple but powerful:
“Never give up. Surround yourself with determined people with high intellectual horsepower. Finally, be humble — accept mistakes and take good advice in your stride.”
These are not just words of encouragement but lessons distilled from decades of real-world experience. Devang Mehta story is proof that success in venture capital and startups isn’t about luck or timing alone — it’s about resilience, learning, and relationships.
The Legacy of Devang Mehta
In a world often obsessed with valuations and exits, Devang Mehta stands out as a professional who prioritizes purpose over hype. His career serves as a reminder that the true value of venture capital lies not just in funding companies but in building ecosystems that foster innovation, integrity, and impact.
Through his work with startups and funds, Devang has contributed to shaping India’s new-age economy — one where knowledge, empathy, and execution go hand in hand.
For him, venture capital is not just a profession — it’s a calling. A way to connect with visionaries, solve meaningful problems, and be part of stories that change the future.
Founder: Devang Mehta
Organization: Self / PressPlay Capital
Started Investing: 2016
LinkedIn: linkedin.com/in/devangmehta1
Instagram: @startupinvest7
Connect: https://topmate.io/devangmehta11
