From Startup to US IPO in 5 Years: Kanwal Rekhi’s Historic IPO of Excelan

Kanwal Rekhi first came to the US in the 1960s. He took his company public on Nasdaq in 1987. As a young Indian in the US, he was laid off from his first three jobs. That experience pushed him towards entrepreneurship. At the time, Indians were known and hired for technical and mathematical skills, not as founders building companies on US soil.But Kanwal and his co-founders decided to bet on themselves. They faced rejection from nearly 50 investors before one VC agreed to invest $2 million for 50% of the company. In just five years, the company went public.From being appointed CEO overnight to being removed by the board two months before the IPO for a more “wall street-acceptable” CEO, this is a story of many firsts.After Excelan, Kanwal co-founded TiE in 1992 and has mentored tens of thousands of entrepreneurs. Beyond a personal story, Kanwal Rekhi is a turning point in how Indian founders came to be seen in Silicon Valley.0:00 – Trailer01:11 – How TiE was formed07:11 – DoT Hatao, Desh Bachao11:31 – Career opportunities in the 70s13:41 – When Indians weren’t trusted to build companies15:44 – Pioneers in computer networking16:51 – Finding an Investor after 50 rejections20:31 – Becoming CEO overnight23:29 – Spare the story, show the numbers24:17 – The “Wall Street acceptable” CEO for IPO27:30 – Founders have to be financial thinkers28:14 – How Excelan could go public in just 5 years29:27 – Cost is unrelated to pricing in software31:12 – Do Indian companies need Americans to lead?34:05 – Benefits of registering in the US36:53 – $1 trillion to solve India’s problems40:49 – Policies for India’s startup ecosystem42:01 – Enabling entrepreneurs in villages44:41 – India in the 80s v/s today50:36 – US vs India vs China01:04:52 – How did IITs start allowing donations?01:07:25 – AI investments of Silicon Valley Quad01:18:29 – What Kanwal Rekhi looks for in founders?-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us Fan Mail