Shashi Shrivastava is an Advisor in the Impact Investing space, and runs an independent investment banking practice, working with multiple early and growth-stage businesses that use technology as a key enabler for solving large problems across sectors, as well as with fund managers, in helping raise capital commitment. Shashi is based out of Goa. Across his career, he has worked with leading financial services players- Grameen Capital & Grameen Impact (which I co-founded), ABN Amro Bank, and FWWB (I), and has been involved in setting up and scaling business verticals, focused on ‘enabling access to capital’ for impact-focused enterprises in the region.
LinkedIn: https://www.linkedin.com/in/shashishrivastava1
Q. How has been your journey from IIFM to this role?
A. I feel fortunate to be where I am. Since IIFM opened the doors to the professional journey, I certainly owe a lot of gratitude to the entire community.
My professional journey started in the financial inclusion space, when 3 of us from the batch got placed with FWWB (I), one of the leading players in the microfinance space that time. My batchmate & roommate (Deepak Kindo) & I were sent to set up a regional office in Chennai, overseeing 75% of the entire portfolio of the company! I think those couple of years were among the most fun for me personally and couldn’t have expected anything better (except maybe the salary!). I joined ABN Amro Bank in Mumbai in 2004 and was a part of a 3-member team involved in setting up of a microfinance business unit (a first, and eventually the largest, amongst peer foreign banks). I was part of a two-member founding team of Grameen Capital (a first of its kind social business, promoted by Grameen Foundation, Citigroup and others) in 2008, where I spent the next 10 years. I led the investment banking business leading syndication of debt and equity investments. I co-founded a group entity, Grameen Impact Investments, which provides access to debt capital critical for scale up of social enterprises.
Having spent most of our professional life in Mumbai, my wife (Aparajita Agrawal, my batchmate and infinitely better-half) and I left our full-time jobs, took a break to travel around and then shifted permanently to Goa in 2018 and work out of here.
Q ) What were some of the key milestones in this journey that you would like to share with us?
A) In the professional journey, the placement from campus (FWWB), must figure, since it gave me an inroad into the sector where I spent a lot of later years and to learn under the best in the space. The other key milestone must include joining a much larger banking organization (ABN Amro) and the opportunity to learn the systems and processes in a corporate environment, which helped me immensely whilst setting up on our own, later in the career. Being open to picking up new skills and following areas of my interest has held me in good stead.
Q) What is the most satisfying part of your current role?
A. One of the most satisfying parts for me is the ability to define my own charter- being able to explore newer sectors and newer business lines, engaging with passionate founders in diverse sectors. While being able to take enough time out, to do things outside work (that I equally enjoy).
Q) Has your learning at IIFM helped in shaping how you approach your professional roles?
A) Most certainly! The experience gives you the shoes to take that next step. Especially in the early years, the extensive field exposure we received during IIFM, helped me immensely as I travelled around engaging with a variety of stakeholders.
Q. Who (or what) are the biggest influences or drivers in your careers. What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles?
A) Each founder entrepreneur that I engage with daily, influences me, through their conviction and passion at the problem they are trying to solve, faced with unending challenges (one only hears about valuations and fundraise in the media, but more often the back story is the more interesting one!). As far as those looking at entry level careers in the investment management/investment banking side, need to work on the technical skills (financial modelling etc) at a minimum. And perhaps listen more attentively to the professors than I could manage in my days!
Q) What are your favorite memories during your IIFM days?
A) Several- our own version of the ashes series at bamboosa, playing at national sports meet both years in multiple sports, the dates with the girlfriend (now wife), the field trips, the movies, my roomies, the get-together, and the arguments that continue! I am thankful that I met my to-be-wife at the campus and she has been the biggest source of sanity as well as inspiration in my life.
Q) In hindsight, what was the biggest contribution (courses, faculty, library, friends, and alumni. Anything else!!) or takeaway from IIFM that you think played a critical role in shaping you as an individual or professional?
A) Met up with a great bunch of individuals and some of them are now friends for life. I owe a lot of gratitude for all the present and former faculty members & advisors, who are the driving force for the institute. On the academic’s front, I think I benefited from the financial management courses a lot, given I didn’t have any prior background. And that continues to be an important part of my work till now. The other important fact that the faculty was open to introducing newer electives (Microfinance was introduced during our time if I recall correctly) was commendable. The institute provides you a platform but ultimately it is up to you to take that next step.. and build on it.
Q)The best friends/seniors/faculty at IIFM?
A) Several across batches are close friends, and keep in touch, visit us, share cricket and soccer scores (and recipes!), argue over silly politics (yes, you know who you are), etc. So many memories !
Q) As an alumnus, what is your advice to freshers or those are joining IIFM to get best out of the 2 years there?
A) If I had to give one advice, it would be to take time to know yourself, your interests etc. In any situation in life, try and keep thigs simple- there is no simple recipe for success, but there is virtue in simplicity.
Q)What is your typical day at the office? (We want to know what your day job looks like).
A) Given I work out of my home office and travel out of city as needed, I have a very a typical workday which could comprise of VCs and emails and preparatory work, to taking a break to check out our garden or playing with Hobbes (my 3 year old golden retriever.)
Q) And how about weekends, Hobbies, Family and anything else you want to add
A) Blessed with a cozy circle of friends here in Goa. So non-work hours are usually with family& friends. I’ve discovered I’m a decent cook myself- so I love to cook for family and friends. I’m into gardening and grow several fruits and vegetables at our place in Goa. Swimming is another favorite family past time (more so for my son and our pet, Hobbes). Or catching up on events around the city, a day at the beach etc.
Shashi with Aparajita his wife and Hobbes (3yo)
Q) Favorite Books, movies, authors.
A) Quite a few to list here. Currently reading “A Book of Dog”- a collection of short stories and ‘Doollaly Sahib and the Black Zamindar– Racism and Revenge in British Raj”, written by a friend.
Q) IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students?
A) Happy to help in any ways I can, with guidance, networks etc. I recall we managed to initiate summer placements for IIFM student @ABN Amro Bank for the first time during my time there.
Q) What do you think is different at IIFM now vs when you studied there? What do you think is a positive change and what is not?
A) I am not too clued in on the current design of the academic program, but I’m sure a lot of thought would have gone in to make whatever changes that have happened. Though I must add I was disappointed to hear of significant changes in the environment affecting the campus “way of life”, from what it was in our time. Perhaps the increase in batch sizes necessitated those.
Q) Any suggestions on who you want to get profiled/interviewed here?
A) Maybe some more from the 2000-02 batch. In touch with several of them, but would love to put them in a spot.