"ಅವತಾರ ಪುರುಷ" ಎಂಬ ನಂಬಿಕೆಯಿಂದ ₹11,000 ಕೋಟಿ ತನಕ — ಉತ್ತಮ್ ಗೌಡ, Captain Fresh

00:00 We've done three in the US, and we've done

00:05 France, Poland, Denmark,

00:12 In the movie, they ask a question in

00:18 Today, we have with us an entrepreneur

00:21 So, not having any kind of fear is very

00:25 Since childhood, my mother used to say one thing:

00:29 special."

00:32 Mr. Utham Gowda, a proper

00:38 Then, what was the reason for leaving the India

00:42 At a city level, the mafia... in the Russell

00:46 started sketching plans against us. In fact,

00:50 Yet, building a 10,000 crore turnover business

00:55 To put it simply, where you

01:00 height is, what your weight is... none of it matters.

01:04 is. I realized that I couldn't become

01:09 I had an understanding of the game. So, I built

01:12 empire, empire, empire... that was

01:16 There, they say everything in the chariot is theirs;

01:20 In every businessman, there is an Agastya,

01:28 I got goosebumps when I heard it.

01:45 So, a request to all the viewers watching the

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01:53 Do this because we are making this with a lot

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02:03 learn, and we must draw inspiration

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02:11 only through entrepreneurship can we build

02:16 That's what I believe. Therefore, may your support

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02:30 we bring out just one newsletter

02:34 of that as well.

02:40 Hello everyone. Welcome to a new

02:44 I am your host,

02:47 Kiran. Hi Kiran. So today, in our

02:53 it feels very special to me. Why?

02:58 In the movie,

03:03 in one scene: "What do you want, man?"

03:08 Just like that, when it comes to ambition,

03:15 and how that character was portrayed...

03:19 is with us today.

03:24 After that, around seven years ago, he

03:30 The scale of its ambition

03:36 growing into a global seafood joint doing a 10,000

03:42 and Pacific oceans, they catch fish;

03:47 In Europe, they process it;

03:51 in places like China and the US, they have offices

03:57 They are selling there, and they are building

04:01 They are building it from Bangalore.

04:05 is still in Bangalore. So today, we have with us

04:10 Mr. Utham Kabbalagerepura

04:17 welcome to the show!

04:20 happy that you came to join us.

04:25 for Kannada entrepreneurs.

04:29 Thank you so much.

04:32 Seafood is a huge favorite of ours; we like

04:38 Another thing is, while studying about you,

04:43 "Wow, what a story!" This is a hidden gem.

04:48 "We must talk about this fisherman!" With that thought,

04:52 interesting. Usually, when it comes to a business,

04:58 or the jewelry industry,

05:02 and they say, "I'll just carry it forward." That's how this generation

05:08 with no family connection, no connection to the fisheries

05:13 years, running a business with a 10,000 crore turnover...

05:19 It's a thrilling story. And that too in a heavily perishable

05:27 How did this story begin? How did this Mysore boy's

05:34 in this world begin?

05:38 Yeah, I started as an average boy.

05:44 grew up there initially.

05:50 went to Sadvidya.

05:52 After that, I did my PU there itself. My first 12

05:58 in Mysore. Now, if I think back,

06:07 connect to my life? Well,

06:12 I enjoyed it a lot.

06:15 Even till now, my best time was that education

06:22 Even now, all my best friends are from there.

06:27 Also, my wife... from 10th standard

06:33 Okay.

06:37 Okay.

06:40 Right, a proper Mysore boy.

06:43 Mysore boy.

06:46 After that... one thing is, my mother isn't very

06:53 7th standard.

06:59 What happened was, since childhood she used to say one thing.

07:03 She would say it like this:

07:09 special."

07:11 You know? That was always in my mind.

07:17 I have to do something, do something larger than life.

07:23 So closing the loop... you started with

07:27 There is another dialogue in KGF.

07:33 that powerful people come from

07:39 Powerful people make places powerful." So,

07:46 to put it simply, where

07:51 what your family is, what your height is, what your

07:58 Only one thing matters: how your mind

08:03 How tough are you

08:08 All of that is fully 99.9%

08:14 There is Dhoni on one side, or our Rohit Sharma,

08:20 there are people like Rohan Gavaskar. Now,

08:27 It is not the size of the dog

08:32 it's the size of the fight in the dog.

08:39 It doesn't matter at all where you come from. Once

08:44 that it can happen like this, that you can do it,

08:48 if you decide "I will do it," you can do it. So, to a

08:54 background at all. But that itself was an

08:59 Because,

09:05 dangerous person in a game...

09:10 lose.

09:15 have nothing to prove.

09:19 Yes,

09:22 Mysore can be called your pedigree.

09:26 Okay, so Utham, could you tell us a bit about how

09:31 From what we've seen, in a company called

09:35 I'll go a little further back than that.

09:37 Now, I went to Surathkal for engineering...

09:40 After going for engineering,

09:45 When I went there, I had a huge desire

09:51 Okay.

09:54 year itself, I had that ambition.

10:01 I wanted to be a leader for the first time.

10:07 election. The first major setback

10:12 Actually, that is the first time I really

10:17 That coping wasn't so simple.

10:24 I would go to the forest every week.

10:30 I didn't leave any.

10:32 I roamed every peak. But at that

10:36 year, it was because my course work

10:41 in college.

10:48 things that I picked up. One is, when you

10:53 once you see the goal, the process

11:00 just not giving up.

11:02 Second,

11:09 It's not about narcissism.

11:16 Even if you leave me in the forest for one day,

11:20 I actually get recharged.

11:26 Now, if I think back,

11:31 all that is okay. But these two character traits,

11:35 Okay.

11:40 Then I did a technical job at Ittiam

11:45 usual, I was confused in life.

11:51 Then again, I will connect this maybe

11:56 A lot of pressure.

12:01 Hmm.

12:03 Hmm.

12:06 only then it's a

12:09 Status.

12:11 Or else you're considered failed.

12:14 At that time, in that confused state, everything

12:18 comes up. GMAT, this, that, everything comes up.

12:23 Ultimately, I didn't get into IIMs.

12:31 that I thought I could get. I got SP Jain.

12:36 Good MBA, because those four years

12:40 in college.

12:41 Okay.

12:43 So these two years, truly the two years

12:48 Okay.

12:50 Next to SP Jain, there were no forests or hills.

12:55 There were no forests or hills. Plus, another thing

13:00 there is more responsibility.

13:05 your job to go there. You have to study using your own

13:08 responsibility. So I studied very seriously

13:15 Tata Strategic Management. Okay,

13:21 First starting, I was involved in two to three

13:26 Starbucks was to be launched in

13:29 doing the work. After that, by luck, Cyrus

13:35 Okay.

13:38 CEO's office, Chairman's office... they needed some

13:44 So I got selected. So for the first time,

13:47 working with a leader of that league...

13:54 working at the highest level.

14:01 where I come and connecting the dots... what

14:07 if you have the data, if you have done the work,

14:15 or Ratan Tata, or anyone else, they will

14:20 Hmm.

14:23 Now, you asked the first question: coming from Mysore,

14:28 confidence? All these things are small,

14:32 In this situation, when you are taking

14:37 getting that itself is a joy.

14:40 Second, once you get a place at the table,

14:46 attention.

14:48 Based on your output, people with that kind of profile

14:53 Right.

14:56 That was my takeaway from there.

14:58 After that,

15:04 It felt too protected.

15:06 After that, I left it. Leaving that,

15:09 It was an investment banking startup

15:17 The main person there, his logic was simply

15:23 I will hire you for the investment

15:26 because I need a clean slate.

15:32 What he meant by "ready to work"

15:35 working continuously for two days, 48 hours.

15:40 That kind of work.

15:46 those two years were the biggest jump

15:53 It was almost like a second MBA.

15:55 I didn't take a single weekend off.

16:00 I even got married. Even for my marriage, I took

16:04 Is that so?

16:07 We went on Thursday, and by Saturday night we went

16:13 Friday was the event, and from Sunday it was work.

16:18 But in those two years, I think

16:25 banking minds

16:29 Okay.

16:32 This banker had... he was a guy who had done

16:40 large deals, deals worth more than 5, 10, or 15 thousand

16:47 So I had the fortune to work with him

16:52 So after that,

16:56 I got into trading.

16:59 Credit cards... I maxed out all

17:03 I had a loan of around 15-20 lakhs, plus my marriage

17:08 Okay.

17:11 company called O3 Capital. There, till

17:17 I paid the highest tax.

17:20 I drew the highest salary there itself.

17:22 Got it? That salary, I drew it for about

17:28 I developed a sort of aversion towards money. "Why this much money?"

17:34 my salary jumped four times.

17:38 skills had developed to,

17:43 Right.

17:47 invest this back into my career."

17:50 "This much is not needed."

17:56 wife.

17:58 Because we have been together since 10th standard,

18:04 it should be like that." There was no need to be

18:08 I had it.

18:09 Suma.

18:13 Suma Raghupathi.

18:20 a 60% salary cut, I went to Nekkanti.

18:24 I went to Nekkanti; they

18:29 Okay.

18:32 Uh-huh.

18:35 Okay.

18:39 Why shouldn't it be done?"

18:43 I didn't have the confidence at that time.

18:49 didn't do the IPO, for me... I had already taken a

18:55 To what extent? I had quit from Bombay,

19:00 moved them...

19:03 managed business. I had already taken that much

19:07 So while taking the next risk,

19:14 can happen next?"

19:16 At that time, I didn't have the vision to become an entrepreneur,

19:24 I had invested about one and a half years in

19:28 done all these things.

19:33 That was the desire. But the idea I got then

19:38 So there, among friends, families, and in the seafood

19:43 With that, I formed a fund of around 35 to 40

19:49 with the whole mandate

19:55 seafood startups. And like a

19:59 Okay.

20:03 companies.

20:06 I invested in them too. In Hyderabad,

20:10 a couple of companies there. In Chennai, a couple of

20:13 Okay.

20:15 Basically like a Private Equity.

20:18 Private Equity is very big, because

20:23 you can call it, or managing a family

20:27 Something like that, a 40 crore fund. To make these

20:32 but I had met almost 50 people

20:36 to see what was happening in India.

20:42 months, or a year, I started gaining

20:47 Listening to their insights?

20:49 Compared to these insights, mine wasn't bad.

20:55 "Now, when they are taking this much risk, why shouldn't

21:00 That thought crossed my mind.

21:03 But,

21:07 into it just yet.

21:12 back. Let me convince my-

21:17 can give my life to." If I do it now, I must go all

21:20 "Just trying it out for a year or two,

21:27 So for almost 90 days,

21:34 up to Kolkata,

21:40 harbor, to another harbor... that was the kind of

21:42 90 days?

21:45 While doing that, every day I would meet all the stakeholders.

21:50 These agents, factories,

21:57 I would meet them and just talk.

22:02 data.

22:07 I knew what the size was, what India was about, so I fully knew

22:14 Now I just had to go search for the trees

22:18 it connects.

22:23 at some point, all that data and intuition

22:28 and you feel:

22:31 Now is the time to take an avatar.

22:34 "This is what I was born for."

22:37 The moment had arrived, you felt.

22:40 Okay.

22:46 to the person I had taken the fund money from.

22:52 Okay.

22:55 Hmm.

23:00 I suppose. Some spark.

23:06 "Why all this? Become the CEO right here. Tell me what

23:13 Right.

23:15 Hmm.

23:17 Okay.

23:20 "It's not about numbers anymore, the game is different now."

23:23 "This game is different.

23:28 That...

23:29 "I don't want anything. I have enough.

23:33 Even if I fail, I have this, or that." Then I told him

23:38 underachiever I know.

23:40 I didn't go to an IIT, I didn't go to an IIM.

23:43 In my mind, I am an avatar purusha.

23:46 But in reality, I am nothing.

23:48 So I am the biggest underachiever I know

23:51 Hmm hmm.

23:55 to correct it.

24:00 The worst thing that I can have

24:04 at the end of this that I didn't try.

24:08 regret."

24:13 He said, "How much is left in your bank

24:20 that's your seed capital."

24:26 Fresh.

24:30 I tell this to my wife: "People won't give you even 50 rupees,

24:37 and he gave me five crores."

24:43 Someone from Mysore... with no family connection,

24:50 Yes.

24:55 But even now, to me, he is like God.

25:00 So that is how Captain Fresh

25:03 So, from Nekkanti, this Captain Fresh

25:06 started, you weren't like Licious or

25:13 You were a direct B2B, and focusing only on

25:18 that's how you started. But

25:23 and moving elsewhere... what was the reason for that,

25:26 Now, after travelling for 90 days,

25:31 I understood that.

25:35 we started the business.

25:40 Licious was our first customer.

25:43 After that,

25:47 became customers.

25:51 these big retailers,

25:56 They weren't getting it.

25:57 So when they themselves had a problem, why should I

26:03 I thought.

26:06 the retail customer...

26:10 logic.

26:11 Another thing is, whatever commodity you

26:16 simply, take coconuts.

26:21 Oil.

26:26 build a supply chain.

26:31 brand, a product, and a customer base around it.

26:37 Even when I had invested, I always

26:42 "If I build a brand first, and try to consistently

26:49 if I go that route,"

26:51 "But what if you don't have a back end?"

26:56 what will you do? You will cross-

27:00 You will make a loss.

27:03 investing.

27:08 that I must do B2B only.

27:12 Immediately, within three to four

27:18 we started supplying to all 600 stores.

27:21 Okay.

27:24 started sketching plans against us.

27:28 To that extent. In fact, two or three people

27:31 Hmm.

27:35 and run away.

27:36 See,

27:41 business.

27:45 getting that shape,

27:46 Then we launched in Hyderabad, we launched in

27:50 Whichever city we went to, at a city level,

27:54 Right.

27:58 kept launching, and went on.

28:00 In every city we went to, we would get a 25-30% market

28:05 We would.

28:06 So we launched in 2020.

28:13 around 12 months,

28:18 annualized...

28:19 we hit 900 crores.

28:22 So in my mind, I thought we had conquered

28:25 Capturing 20 to 25% market share so quickly,

28:32 Quality and operations, yes, those two. But most

28:37 delivered all products.

28:42 Russell Market would get fish only from Mangalore,

28:48 or from Kerala,

28:52 That's how it was. So, if you are a retail store,

28:57 You had to do it.

28:59 One supplier just for Rohu and Catla,

29:04 like having one guy for each source.

29:10 We sourced our supply

29:14 All over India.

29:17 we were a one-stop solution.

29:19 "If we come here, we'll get everything."

29:23 We did that.

29:24 After that, the app. After that...

29:30 Hmm.

29:32 That's it.

29:36 No other drama.

29:40 Being professional.

29:43 Market people, so you can imagine what happens there. So because of that,

29:48 easily 20-30% in every city and state.

29:55 cities, we were the largest seafood

30:01 five quarters, six quarters.

30:06 After that, the stress started.

30:09 Profits were not coming in.

30:14 all of these mafias started to play the game.

30:16 Hmm.

30:21 Hmm.

30:24 Did they start causing it?

30:27 payments.

30:28 Payment troubles started.

30:31 So we...

30:38 rupees we

30:42 meaning gross margin.

30:44 If I buy fish for 80 rupees, I am selling it for 100 rupees.

30:48 So 20 rupees is mine. Out of this 20 rupees, I take care of all other expenses.

30:53 Hmm.

30:56 the logic was that as we scale, it will get covered.

30:59 But after two years, or one, one and a half years, I slowly realized that actually,

31:06 I was writing down 20 rupees in my accounts,

31:09 but what was really coming in was just 5 rupees. Because 6-7 rupees in inventory,

31:14 someone or the other was eating it up. Another 6-7 rupees, the customer wasn't even

31:18 paying.

31:21 he ends up giving 93-94 rupees. So if you cut all that, it's just 5 rupees. With 5 rupees, this

31:27 business cannot be built.

31:29 In India, you can't build this business with 5 rupees.

31:32 That realization hit in 2022.

31:36 Around that time.

31:41 business.

31:44 with no path to profita-

31:48 wall.

31:51 main reasons... could we say it was vested interests and unprofessionalism?

31:57 No, actually... see, we can say that, but the reality is that people here don't have that much

32:04 money.

32:07 there is no money. Secondly, they eat this category 100% fresh.

32:13 When eating it fresh, a lot of stress falls on the back-end supply chain.

32:18 And if you have to do everything right in that supply chain, the cost of servicing

32:22 is very high.

32:26 paying that

32:28 We were studying the "Sunday Non-Veg Syndrome".

32:31 Exactly, so that is a major problem.

32:34 out of 10,000 hours in a year, 50% of the trade happens in just 200 hours.

32:39 So if you are building any supply chain, you can't really put investments in

32:43 anything, because for the remaining 9,800 hours, it just sits empty.

32:48 So how will you recover your investment? So those are all

32:52 structural issues.

32:56 We will come back.

32:58 We will come back, and when we do, we will conquer it.

33:04 It will happen. In 5-6 years, it will be ready.

33:07 We will come.

33:12 to the US and Europe?

33:15 So the next phase, that is Captain Fresh 2.0 what I call it,

33:20 is where we used the supply that I had built. To export that supply,

33:27 an infrastructure is needed. Because you need to convert raw

33:31 material into finished products.

33:36 disruption I did,

33:40 I had the insight that in the factory value chain, in that value chain,

33:46 there's been a lot of investment.

33:48 There's an under-utilization problem.

33:52 factories.

33:56 because of COVID, all these factories were coming out.

33:59 These factories were under a lot of stress because all the proprietors, they don't

34:04 have this kind of capital.

34:08 10 crore loan, and hoping to get another 10 crore in government incentives,

34:12 they set up the factory.

34:16 they don't think about all that. These are all small entrepreneurs, right?

34:21 So like that, I took 12 factories on lease in a [ __ ].

34:25 Okay, in India?

34:27 Okay.

34:30 Hmm.

34:34 in the seafood industry, if they are in Bhimavaram, Andhra, they just stay in Bhimavaram.

34:40 Or if they are in Nellore, they just stay in Nellore. The Gujarat guys never go to Andhra.

34:47 So we were the first player

34:50 And this is where tech came into play.

34:55 Okay.

34:58 whatever happens every moment, I should get that information in real-time.

35:02 Okay.

35:04 factory is in Bhimavaram or in Gujarat, it doesn't matter.

35:11 "You can take the decisions" – that was the confidence I had.

35:14 So immediately, we did around 1400 crores of exports the next year.

35:21 Okay.

35:23 Right.

35:25 So when you were pivoting to the investors,

35:28 didn't they say, "What man, are you crazy dropping a 900 crore business?"

35:33 See, that is one more art of an entrepreneur.

35:36 Right? You need to know what the investor can even understand.

35:43 Right.

35:47 down to zero." I never said that.

35:52 Hmm.

35:54 Hmm.

35:57 This is profitable.

36:00 Quarter on quarter, they saw 100, 200, 300, 400 crores of profitable business.

36:06 So while watching it every quarter, by the fourth quarter, they themselves came and said, "Why are you

36:11 still doing India?"

36:14 So I knew that this is the direction, but in India too, if I had suddenly taken it

36:21 to zero in one go,

36:25 that much money we would have had to

36:28 abandon and come.

36:33 If it's a 900 crore business, figure that around 150-200 crores was in the market.

36:38 Right.

36:42 said we are closing

36:45 Apart from me,

36:51 knew about this plan.

36:56 Right.

36:59 I had started it somewhere else, in Kochi.

37:02 Our India team didn't even know that this business existed.

37:05 Okay.

37:07 Something has come up contributing 50%, this and that..."

37:15 Now tell me one thing, this solitude you mentioned...

37:18 It's very important while building an empire, because the battle is in the mind.

37:22 The blueprint is in the mind.

37:28 "No man, this will come, this will come, that will come."

37:31 You had it like a full screenplay?

37:36 the decisions will cascade like this. We should manage these people like this, those people

37:39 like that. We have to do this and that. And the ultimate weapon (Brahmastra) was the 700 crores...

37:43 The ultimate weapon was...

37:45 The sourcing capability. We knew how to do this, but the execution

37:51 and the delivery of it, that requires emotional control.

37:56 Without telling anyone, when we were clear... That's why, to give you one example,

38:02 at our peak, we had 1,500 people with us.

38:06 Okay.

38:10 This happened in the last three years.

38:13 Right? Our business went from 900 crores to... won't say 10,500 crores,

38:19 it has reached that level.

38:23 We have come down.

38:28 in that, there was clarity, there was conviction. There is no other route,

38:33 but it had to be executed. So in the next one year, I did this thing where...

38:38 Now, if you look at our revenues, if you take my reported numbers,

38:44 first year was 25 crores, second year 200 crores, third year 800 crores, fourth year 1400

38:53 crores.

38:56 1400 crores reported numbers.

39:05 crores. After that, we were the first Indian player to

39:09 start processing in Indonesia and the Philippines. We went there, took a factory,

39:13 sourced raw materials from there, and exported them. We were the first to do that

39:17 too. After doing all that, I got confidence.

39:21 This leg, you know, buying fish,

39:27 processing it, I know this leg. But I didn't have much satisfaction. "Is this

39:33 the end state?" My satisfaction... from the beginning, my motivation was this:

39:38 "Man, so many crores are generated from India. But the guy eating it out there, nobody

39:43 knows that this is an Indian item.

39:48 rupees, he is selling it for 2,000 rupees."

39:52 Here, the fish is here.

39:59 is made. The guy selling it there is making 200-250. For what? Just telling a story,

40:06 putting it in a package, understanding what the customer wants and translating that,

40:11 getting customer insights. So I am a big believer of vertically integrated products.

40:17 And I'm a big believer that I shouldn't think of raw material

40:22 as a cost.

40:27 Right.

40:30 what I need.

40:34 I don't want to be an India supplier.

40:41 I can give it. So what that customer needs is a fish which comes on his

40:47 plate 365 days a year.

40:54 what should be my capability?

40:57 I should have the ability to source fish

41:05 Beyond seasons. In one place, the coast will be closed for six months.

41:09 If you take one country.

41:13 it's not enough.

41:17 I need to be present.

41:20 I had that clarity.

41:24 Even back then, "I will be a one-stop solution

41:30 when I did it in India, I mentioned that even when selling to the first store, I was sourcing from 200 places.

41:35 I was doing that.

41:40 just like how I sourced from 200 places in India, when going global, I must source from 30 countries."

41:45 "I have to source like that."

41:47 So, plus, local varieties are needed too, right? Everything is needed everywhere. So, he is looking at seafood,

41:52 he is not looking for just Indian shrimp, as a customer.

41:55 And I am saying I will cater to your seafood needs.

41:58 That's it.

41:59 That's it. He doesn't care that I come from Mysore, that I am a small boy, this and that.

42:04 If he wants to give me a chance, I should earn it.

42:08 And that is 30 countries sourcing. That was a big step.

42:13 Right? In this, obviously the investors were like, "No one thinks of this scale,

42:21 no one has done it,

42:24 startups." So at that time, there was a lot of resistance.

42:30 And my approach was that I won't do all this organically.

42:37 There are so many companies, I will acquire them. That was my approach.

42:43 There was a lot of resistance to that.

42:49 Resistance from whom here?

42:53 Resistance from all sides, because they hadn't seen this.

42:55 Also, at that time, there was a lot of noise. Byju's had acquired everywhere in a similar way

43:00 and collapsed.

43:04 So going globally and acquiring, or acquiring in India...

43:08 that startup narrative that was there,

43:12 it had collapsed.

43:15 So there were trust issues: "Can an Indian founder pull this off? Is he mature enough to

43:21 do all of this?" Hmm.

43:25 It had nothing to do with me, it was about the noise. And no discredit to

43:31 them. If I were an investor, maybe I would have thought the same way.

43:34 But I was very clear, if I don't do this, what future does Captain Fresh's

43:39 potential have? It won't reach its true potential.

43:42 So I continued to battle in my own way. I said I want to buy a company.

43:50 Now,

43:54 our style.

43:56 So the first acquisition that I went after,

44:00 I was making around a thousand crores at that time. The first acquisition that I went

44:06 after was 8000 crores. Mine was a thousand crores, and that company was 8000 crores.

44:15 The investors were like, "Is he mad?

44:19 Mine was the same, mine was the same. What I explained was just this:

44:24 "Whoever we strike, if we strike, do I have to be there full time?"

44:27 Hmm.

44:32 if we strike, I'll have to be there full-time. If I have to be there full-time, I'll strike

44:37 and come." That was the logic.

44:44 who had decided to sell the company and was sitting there, he had an advisor, right?

44:49 The investment bank gatekeeper.

44:51 I made a call to him: "I have an interest in taking your item." He was like, "What is your...

44:59 thing?"

45:02 "Give me your horoscope (details)."

45:04 The guy who had decided to sell the company and was

45:08 this much.

45:09 The investment bank gatekeeper.

45:11 I made a call to him: "I have an interest

45:14 Okay.

45:19 an 8000 crore company?"

45:19 thing?"

45:22 "Give me your horoscope (details)."

45:26 We'll talk about all the details later.

45:28 this much.

45:29 Right now I am sitting in India. Give me another half an hour. Your office is in Miami, right?"

45:34 Okay.

45:34 Hmm.

45:36 Hmm.

45:39 an 8000 crore company?"

45:39 And you'll come tomorrow?" "Yes, I will come. Just half an hour. For a half-hour meeting,

45:43 you'll come?" "Yes, I'll come. Just half an hour." I went, I went there. Then he...

45:46 We'll talk about all the details later.

45:49 Right now I am sitting in India. Give me another half an hour. Your office is in Miami, right?"

45:50 I listened to the story for half an hour, and

45:54 I did that.

45:54 Hmm.

45:58 Whether they will give the money or not, I

46:00 Hmm.

46:03 "I will at least try,

46:06 Then he said, "Alright, look, after hearing

46:11 I want to give you a chance,

46:15 front of my client.

46:19 I'll get him to give you 15 minutes.

46:24 you need to take a flight from there. I'll get him to give you

46:28 Convince him.

46:32 Saying "Okay," that same day,

46:36 and went there. The meeting was at 4 o'clock. That 4

46:42 Okay.

46:46 Because I had gone there fully

46:49 It was not about numbers.

46:52 the person.

46:56 Yes, capturing the mind. I remember from the opening

47:01 His name was X Y.

47:05 The opening statement was, "Look, in the seafood

47:11 they call you Mr. Y.

47:16 Mr. X."

47:20 That sentiment locked him in.

47:27 "Third generation... everything that's here is my father's

47:34 he felt. Then I gave him... "Look, my tech,

47:41 hmm,

47:44 I have a 15,000 crore plan."

47:46 "Take your 8."

47:48 "Like this, like this." I laid it out fully.

47:51 He was convinced for the first time.

47:57 like Cargill, and some other company...

48:00 Okay.

48:03 offers, he gave us exclusivity. So that

48:08 the global arena.

48:10 Seafood

48:12 In Miami, this is a large company. It's like

48:16 Okay.

48:17 Like Jaguar Land Rover. In the seafood

48:21 "What is this Captain Fresh?

48:26 they have taken exclusivity." That

48:30 global press.

48:31 Right? My intent was just that. My intent

48:38 I'll be striking lifelong.

48:42 If it happens, it happens.

48:47 After that, we couldn't close it.

48:50 The representation numbers he gave didn't

48:55 Okay.

48:59 business I brought, it was 2000 crores.

49:03 our investors were very happy.

49:09 This is a very good size, we can

49:17 So the shock and awe effect worked.

49:25 got our US distribution.

49:27 I did start that.

49:32 acquisitions.

49:37 quarter we keep doing it.

49:39 So we've done three in the US,

49:45 Here in Europe now, France, Poland,

49:51 Spain.

49:52 We've done these four.

49:56 So another two are ongoing.

50:03 structure. Like this, we've done 10 brands.

50:06 Now, while doing the first and second

50:11 Now I have 50 people in the queue.

50:16 Will this not fit? How is it?"

50:20 a job has become easy.

50:25 There are front-end brands.

50:27 We have the backend operations

50:32 Right.

50:36 comes from India.

50:40 Okay.

50:43 almost 80% of our supply is from

50:47 Vietnam if you take the Indian Ocean.

50:50 If you take the Atlantic, we take goods from Norway and Poland.

50:55 from Ecuador and Mexico.

51:00 almost...

51:03 we purchase anywhere between 800 to 1300-1400 crores

51:10 in each market, we should be amongst the

51:15 In the whole world, we should be amongst the

51:20 Okay.

51:23 India, Indonesia, Vietnam...

51:26 Consumer countries?

51:28 Yes.

51:31 we do there. 4000 crores we do

51:34 Okay, the majors.

51:36 Okay.

51:39 Because in Europe, while it is for

51:42 right now we have a thousand employees,

51:46 Okay.

51:50 Indonesia, the Middle East... this is our

51:53 Okay.

51:57 is how we have come from zero to 10000

52:01 Let's come back to the business journey. I still have

52:07 eater, one question.

52:09 Usually, India's poultry and

52:13 when we compare, there is a quality difference. There,

52:18 are very strict, they say.

52:22 there's more poultry with antibiotics.

52:26 What are your thoughts on this? What

52:29 Globally, one difference is that

52:36 actually do their work.

52:38 Whether it is the US FDA or the European Food

52:45 act like gatekeepers. Wherever you

52:49 you have to go through that gate first.

52:55 antibiotics, heavy metals,

53:00 typical problems in the seafood supply chain...

53:05 problems are very usual.

53:11 Only if it passes the test and moves forward, do you get

53:15 Now, if you repeatedly offend,

53:20 Simple.

53:21 In India, the problem is that this

53:26 Here, they add formalin

53:34 it goes to Assam. Just on the way, it takes

53:41 and then sell it.

53:47 They add formalin.

53:51 in India, you don't need a license to sell fish.

53:59 aspect, right, it's a fundamental

54:04 even if you go to Dubai, a meat operator needs a

54:09 To get that license, you must have some

54:12 And because they have a license, they are

54:17 them, food quality tests happening... they are

54:20 In India, that licensing doesn't exist.

54:25 There is no accountability.

54:30 So that is the biggest difference.

54:34 See, these are all slow killers.

54:40 Whether cancer was caused to you by this formalin,

54:47 toxicity... now since there are so many varieties of

54:52 we don't know where it came from.

54:54 RCA cannot be done.

54:59 So the Indian market is like that.

55:05 at least people are talking about it.

55:10 behind. It's behind, and there's a lot of work.

55:17 right, that product's price will shoot way

55:20 Hmm.

55:23 price.

55:28 Now, 1000 rupees for fish or shrimp, who will give that?

55:33 a month? How many people have that capacity?

55:41 there are problems. But having said that, I

55:47 habits, since we have a habit of cooking freshly and

55:52 because of that, maybe we escape a lot

55:55 Compared to the West.

55:59 processed food is more.

56:03 level and the food supply chain level, there are

56:05 So I think your business is now in different

56:11 managing all these global

56:15 it was challenging?

56:19 Actually, that's the reason I am staying in

56:20 Okay.

56:25 our team pulled out the statistics. I

56:32 in airlines over three years. So to give

56:40 there are 8000 hours, almost 2000 hours

56:44 flights.

56:47 So it's almost 40% of your up-

56:48 Hmm.

56:50 Hmm.

56:54 record, you know what it is for one year?

56:57 1.1 million kilometers.

57:02 kilometers I had traveled.

57:08 I was told, "Boss, if it continues like this,

57:13 So because of that, I had to fix it.

57:20 Amsterdam, it has come down to almost 450-500k

57:23 Because a lot of that travel is cut out.

57:28 is much better to manage Asia, Europe

57:34 otherwise, see what I have... in every idea of

57:40 in that, two or three

57:46 Empire, as they say.

57:50 weapon of the Roman Empire is its

57:56 So ours is a bit like that. We have bought so many

58:00 did we give an exit to the management.

58:04 In fact, the headline says I have

58:07 But the reality is that I have sold my company.

58:09 Hmm.

58:16 shares.

58:19 Okay.

58:22 If you are in the management,

58:23 I didn't give money at all.

58:26 If you are in the management, you have to

58:30 And we will figure out when I make

58:33 So it has been a sales job

58:39 that operator, rather than the other way round.

58:44 solid CEOs.

58:49 transaction level.

58:52 So I have one principle. Now there are two

58:55 watchers,

59:01 The CEOs in these companies, they are all

59:06 Every moment they know

59:10 And they have done it for 40 years and

59:16 My job is to watch the field.

59:23 How is anything else?

59:29 I thought I could become Virat Kohli.

59:33 I realized that I cannot become Virat Kohli

59:37 But the thing is, I had an understanding of the game.

59:44 Right? So in that way, scoreboard versus

59:52 means it comes to your point around

59:54 Hmm.

59:59 the lion versus cow culture.

01:00:04 If not, it has to starve and die. But a cow could be hunted by someone else,

01:00:09 is that the kind of culture you have built at Captain Fresh?

01:00:12 A bit of a lion culture?

01:00:16 Both cultures are there. We need both. Now, these scoreboard

01:00:18 Okay.

01:00:24 They just put their heads down and keep doing that.

01:00:27 And these field managers,

01:00:29 this is a high-intensity job.

01:00:31 Like that.

01:00:37 you'll be successful.

01:00:42 you know?

01:00:46 jungle.

01:00:52 that time, right? At that time, we should... we

01:00:54 Right.

01:01:00 So that's why I gave the scoreboard and

01:01:06 Watching... it knows when and what to hunt.

01:01:12 if I don't have 40 hours of work a week...

01:01:13 it happens.

01:01:14 Hmm.

01:01:17 who work directly with me, that's what I tell them.

01:01:19 You won't get 40 hours of work here.

01:01:22 But, but when you get it,

01:01:26 it can be 100 hours, or it can be just four minutes.

01:01:31 You can't come without the hunt.

01:01:36 And now with AI and all that coming,

01:01:41 Because human civilization's general

01:01:45 has increased.

01:01:48 When the average increases, who are the winners?

01:01:51 Hmm.

01:01:54 value

01:01:59 Take any distribution in the industry.

01:02:05 take a family... in every distribution,

01:02:13 compared to "I will just do it

01:02:16 Lion culture.

01:02:21 very important to become a success.

01:02:28 family members will laugh... that holds one back

01:02:32 See, entrepreneurship,

01:02:37 game of taking risks.

01:02:44 won't take risks," then you should work for

01:02:48 Right, which is you are an employee.

01:02:52 So while taking a risk,

01:02:57 fear.

01:03:03 is like this:

01:03:13 One, when your obsession with money becomes too much.

01:03:19 the fear keeps increasing. Hmm.

01:03:21 Fear...

01:03:25 Secondly,

01:03:32 when you are doing it for the reason that

01:03:36 fear.

01:03:41 What will your parents say? What will your wife

01:03:46 doesn't work out, what will happen?" That brings a lot of

01:03:52 Third is a bit philosophical.

01:04:00 is permanent now. That's one of the

01:04:06 If you

01:04:12 Money is actually not that useful.

01:04:17 it doesn't have much use.

01:04:22 shit.

01:04:26 That is the reality.

01:04:31 Got it? And then, everything is impermanent.

01:04:36 No matter how big a person you are, what is in your

01:04:42 That's all there is. So when that hits you, you become

01:04:45 Whether it's to employees or others, I tell them. Now,

01:04:52 for a batsman, when that bat

01:04:58 a heartbeat skips, doesn't it?

01:05:05 a different level altogether.

01:05:08 I'll get money, from that cricket I'll get a

01:05:15 I'll get a lifestyle," and if you chase that,

01:05:20 you get Prithvi Shaw, and on the other route

01:05:24 So what you really like should be that right

01:05:30 What is the right thing? What is the symptom?

01:05:37 not what you can chase. So once that happens,

01:05:43 Rather than saying "conquer," it's not the right

01:05:47 There is nothing that stoked it.

01:05:52 feel like you are made to be in that

01:05:58 So that is the mindset. So that's why I said

01:06:04 little.

01:06:09 you have a mental model

01:06:13 That's it.

01:06:17 plans, sir?

01:06:22 Hmm.

01:06:24 Okay? It's not like, you know, we have to do one.

01:06:33 so many people were like, "Oh, you are doing one crore?

01:06:39 that kind of mindset at all.

01:06:43 when doing a thousand... a thousand, then 10,000. Now while doing 10,000,

01:06:47 Because that trajectory, you know?

01:06:52 Hmm.

01:06:55 That's why, Mysore... going back to the

01:06:59 I feel privileged.

01:07:02 Because I started from a zero base.

01:07:08 point around what next?

01:07:12 this.

01:07:18 600 billion dollar industry.

01:07:21 Largest player is 6 billion.

01:07:25 Which is 55,000 crores.

01:07:30 So our next logical step

01:07:37 Must go further.

01:07:39 Why? Because it's possible, that's all.

01:07:48 You should just go all in.

01:07:52 principle of what can hold you

01:07:56 Only fear.

01:08:01 in time I feel, "Hmm, no man, I have done

01:08:06 How to protect this?"

01:08:11 to become 1 lakh crore.

01:08:17 where I think this 1 lakh crore becomes a question

01:08:21 And that point will come when

01:08:28 Only then will that point come.

01:08:33 I do a mental exercise sometimes for time pass.

01:08:36 In that solitude, you'll be doing something.

01:08:40 is... "No man, if I become a pauper now, how would it be?"

01:08:44 How does my life look? Hmm.

01:08:51 Actually, nothing happens.

01:08:54 When you get that comfort, right?

01:08:58 If you get that comfort at this stage,

01:09:04 years, this has happened.

01:09:09 You get the confidence that you can bounce back.

01:09:14 to close out on the other point.

01:09:20 to work for a white guy, an American.

01:09:27 don't work for an American,

01:09:33 You've not arrived in life. You're not earning

01:09:40 Now I can tell, if this country has to go from 5 trillion

01:09:47 there should be entrepreneurs who believe that "I

01:09:53 I will make a European work for me, I

01:09:57 share with them, and they'll find it fruitful

01:10:07 I want to be the role model for that.

01:10:12 models. Of course, Infosys founders

01:10:17 are there.

01:10:21 doing.

01:10:24 They have done it.

01:10:27 value.

01:10:31 Hmm.

01:10:36 you watch a mother

01:10:40 to feed her two-year-old kid

01:10:46 Not many Indian

01:10:50 categories

01:10:58 A country's entrepreneur needs to believe,

01:11:05 quality, I have the determination, every

01:11:11 create a product, to create value for

01:11:17 world." I want

01:11:22 to be that role model and a template. One

01:11:29 me,

01:11:33 You started off with something... actually I

01:11:37 series.

01:11:39 Someone asks him, "You've occupied so much.

01:11:46 He says, "I want everything under the

01:11:50 Ours is like that.

01:11:54 So that keeps going. But what does this

01:11:59 Is this... can I become that one

01:12:02 Can those boardrooms use my

01:12:07 You guys try it"?

01:12:09 That is what my...

01:12:14 hearing that.

01:12:17 Yes, a legend, correct.

01:12:24 I was speaking to your friend Vikas last week.

01:12:29 "Since childhood, he and I have watched

01:12:33 "Whenever we got a chance, we watched Kannada

01:12:37 entrepreneurs, we ask a lot of people,

01:12:40 Which ones do you watch?" They say they do watch.

01:12:44 But we heard you are a movie buff, and that too

01:12:49 about that. How did you get this craze for

01:12:54 did you watch?

01:12:55 We support all actors, all the actors.

01:12:59 Okay.

01:13:00 No fan wars?

01:13:04 We do.

01:13:07 or Darshan's movies,

01:13:11 we watch everyone's movies.

01:13:16 latest? Obviously Shetty (Rakshit/Rishab Shetty).

01:13:19 Then,

01:13:22 At that scale, in that vision... like

01:13:25 they were saying, Karnataka's industry

01:13:30 That...

01:13:35 Something like KGF can be made.

01:13:39 Rishab Shetty.

01:13:43 His... and Neel's thought process.

01:13:51 a brand of movies, right?

01:13:53 That is very pleasing.

01:13:57 you are saying everything in the ocean is yours.

01:14:03 business, in every businessman,

01:14:08 Okay? From Agastya, you need a dynamo, volcano

01:14:14 Rocky's self-determination...

01:14:20 All that is needed. Along with that, just for a

01:14:24 you also need to be like our Ravi Varma

01:14:29 That generosity, that kindness

01:14:32 Otherwise, this whole village won't come

01:14:37 This shared belief, right?

01:14:42 If that shared belief is not there, there is no

01:14:46 "I'll just buy the company and that's it" won't

01:14:49 And shared belief, finally, is very

01:14:54 It is not Hindu, it is not Indian,

01:14:58 human.

01:15:02 It is that generousness, kindness, and it

01:15:08 belief will be there. So coming back to

01:15:13 are needed for them. One or two traits.

01:15:18 movie where you felt, "Okay, this is exactly

01:15:22 Is there any movie like that?

01:15:25 Very difficult to say, but if I have to force-fit,

01:15:29 empire, empire," that kind of thing is in my

01:15:32 "If I have to build it,

01:15:36 Otherwise, just anything is okay. Because anyway,

01:15:42 Right? If you build it, build it big.

01:15:49 Super.

01:15:53 Hmm.

01:15:56 so many boys come to Bangalore holding onto dreams,

01:16:02 boys, if you were to tell them, "Don't keep this

01:16:07 you say?

01:16:11 is all I would say. Now, there are so many examples

01:16:19 respect that guy.

01:16:23 see, taking the game to the last ball,

01:16:29 He knows exactly where the bowler is going to

01:16:33 All that... nobody teaches all of this.

01:16:39 testing and all of that. So the only

01:16:44 in today's world, everything is

01:16:49 Do you want to learn something? Do you want to do something?

01:16:54 There is gig working.

01:17:00 vision, I need to do this"... today,

01:17:06 civilization versus today, today there are

01:17:13 The only limitation is your mind, that's all.

01:17:19 Yes.

01:17:23 300 years ago, Napoleon's quality of life

01:17:28 our maid's quality of life...

01:17:32 Far better.

01:17:35 human civilization. The percentage of

01:17:42 degrees Celsius band,

01:17:47 Otherwise, humans had to fight with

01:17:53 So, comfort.

01:17:58 1000 years

01:18:01 you will tell them, "Boss, what are you talking

01:18:06 you talking about?"

01:18:10 "No temperature, you're wearing

01:18:15 animals hunting you. What are you talking about?"

01:18:23 It is always looking for problems.

01:18:29 average, no human is under-privileged.

01:18:36 it.

01:18:42 just being in this time, you are

01:18:48 avenues. Just that your mind is

01:18:53 That guy, Alexander the Great, imagine

01:18:59 and access and all of those things.

01:19:05 Think about that inconvenience.

01:19:10 In today's times, who has that?

01:19:16 Because your comforts are creeping in, and

01:19:20 not real. There is no problem, actually.

01:19:25 manufactured in our minds. So finally to

01:19:30 everything is in your mind.

01:19:34 because you are 20 years old today and you

01:19:39 60 years ahead and you have the, you know, energy.

01:19:44 Right.

01:19:48 We heard that.

01:19:50 Okay, let it happen. And one last personal

01:19:57 what do you like a lot?

01:20:02 Pomfret . I like it.

01:20:04 Seer fish, I like it very, very much.

01:20:06 Hmm.

01:20:09 meat item, if you had to say?

01:20:12 Okay.

01:20:16 that one meal has to be there.

01:20:19 So if there's any one seafood specialty from Karnataka

01:20:23 all over the world, what would it be?

01:20:28 When I was in Surathkal...

01:20:31 Yes, I used to binge eat.

01:20:34 Actually, there's so much in Mangalorean cuisine.

01:20:38 you take, it is...

01:20:41 Awesome.

01:20:44 It was very lively. And you know,

01:20:50 it's exactly the lack of such ambition that

01:20:55 mentioned wanting to be a role model, right?

01:21:00 spark to a lot of people.

01:21:04 may all your plans for this year and the future

01:21:10 Kannadigas' name, you are taking it to the entire

01:21:13 Thank you so much, Vasanth. Thank you, Kiran.

01:21:18 like Vasanth said, Kannadigas don't dream big.

01:21:23 They feel, "If I say this, they'll make a joke

01:21:28 Validation.

01:21:30 Talking to you over the last hour and a half,

01:21:35 requires courage.

01:21:39 You already have that courage.

01:21:44 University speech by Denzel

01:21:49 "Never fall back, always fall forward."

01:21:49 Hmm.

01:21:53 looking back for something to catch you.

01:21:56 That fear will be there, "What if I fall?"

01:22:00 your forehead touches further, right? In your words,

01:22:04 If you fall, you will fall forward.

01:22:08 No falling back, only falling forward. It

01:22:12 It's a very inspiring story.

01:22:16 you guys have created an amazing platform.

01:22:17 Definitely.

01:22:21 Kannadiga, I am very proud of what you

01:22:23 Thank you so much.