How Rubrik’s IPO paid off big for Greylock VC Asheem Chandna

Greylock VC Asheem Chandna's investment in Rubrik's IPO yields over $756M, highlighting the importance of founder grit.

: In 2015, Asheem Chandna of Greylock invested in data management startup Rubrik, captivated by its innovative approach and the determination of its CEO, Bipul Sinha. The investment paid off significantly when Rubrik went public with a market cap of over $6 billion, turning Greylock's stake into more than $756 million. Chandna attributes success in venture capitalism to investing in founders with grit, vision, and the ability to recruit top talent.

In early 2015, Asheem Chandna, a partner at Greylock, was introduced to Rubrik and its CEO Bipul Sinha, who outlined a transformative vision for the data management and recovery industry. Chandna, impressed by the innovative solution and the team's ambition, led a $40 million Series B investment in Rubrik. This early belief in Rubrik’s potential was validated when the company went public with a market value surpassing $6 billion, underscoring Chandna's knack for identifying promising technology startups and the significance of venture capital in fostering technological innovation.

Chandna’s venture capital philosophy emphasizes the critical role of the founder's character, particularly grit and self-awareness, in a startup's success. He considers venture capital a 'people business' and highlights his experience with successful companies like Palo Alto Networks, AppDynamics, and others as examples of this principle in action. Chandna's approach to investing—focusing on the team as much as the technology—has been a key factor in his and Greylock's success.

The story of Rubrik and Chandna's investment reflects broader themes in the technology and venture capital landscape, including the challenges of building a startup, the importance of perseverance, and the substantial rewards of a successful IPO. Chandna’s experience with Rubrik demonstrates how a combination of visionary leadership, a compelling technological solution, and strategic investment can lead to significant achievements in the competitive tech industry.