Kartekeya Myadam: Guiding principles of commitment, transparency and forward-thinking
As the founder and Chief Investment Officer of single-family office Richmount Ventures, Kartekeya Myadam has made it his mission to manage his family’s wealth in a comprehensive manner across public markets, private markets, global markets and real estate.
An alumnus of Bharatiya Vidhya Bhavan, Hyderabad, and Good Shepherd International School, Ooty, Kartekeya also holds a master’s in international management from the University of Reading, England. A member of various esteemed global communities specific to investments and family offices, business organisations and various private clubs, he is passionate about the power of education and communication in doing good business.
Here, in his own words, the third-generation business leader talks about the origins of the family wealth and his vision for the family office…
Legacy and lessons
Our family’s entrepreneurial journey, spearheaded by my grandfather, Kishan Rao Myadam, commenced in the early 1950s, focusing initially on Cigars, Cheroots and Biscuit production through brands like Ghanta Chutta and Ampro. Recognising the market’s potential, he expanded operations, laying the groundwork for our family’s future ventures.
However, it was in 1982 that a transformative vision took shape. Drawing inspiration from his mother’s arduous efforts in crafting vermicelli by hand, Bambino Agro Industries Limited was founded in Hyderabad, marking our entry into the processed food industry by making vermicelli, an easily accessible supermarket product.
Under the dynamic leadership of Mr. Kishan Rao and supported by co-founder Mr. Raghuveer Myadam, Bambino not only became India’s largest pasta manufacturer but also founded Spectrum Power Generation Ltd., India’s first independent power plant in Andhra Pradesh, post 1991 Indian economic liberalisation. They also marked their foray into healthcare by establishing Hyderabad Nursing Home. Their pioneering spirit and values continue to shape Bambino’s enduring legacy as a leading force in India’s processed food industry.
I gained invaluable insights from my father and grandfather and that has been the bedrock of my leadership approach at the family office. From a young age, they instilled the importance of ethical practices, a people-centric approach, and the significance of a clear vision. These principles still guide my leadership approach at Richmount Ventures. The emphasis on creating enduring value over quick gains is integral in how I steer the family office. Our ethos revolves around creating sustainable value, prioritising integrity over immediate gains and echoing the timeless wisdom instilled by my predecessors. This ethos guides every decision and strategy at the family office, reflecting not just their teachings but a commitment to enduring principles in a rapidly changing financial landscape.
Losing my father, Raghuveer Myadam, was a watershed moment, especially in terms of succession planning.
Driven by core values
These tenets are more than just words; they are guiding principles that underpin every decision and action within our organisation.
Commitment, for me, translates into a steadfast dedication to our objectives. It means staying true to our promises, ensuring that every investment decision aligns with our long-term vision.
Transparency serves as the foundation of our operations, fostering trust and credibility. We prioritise clear communication, sharing insights, successes and challenges openly. It’s about ensuring that every decision is accountable and comprehensible to everyone involved.
Forward-thinking encapsulates our proactive stance. It’s about not just reacting to market shifts but anticipating them, embracing innovation and continuously seeking new opportunities.
These values collectively drive a culture of responsibility, innovation, and a constant pursuit of excellence in how we approach investments and wealth management at Richmount Ventures.
Losing my father, Raghuveer Myadam, a few years ago was a watershed moment, especially in terms of succession planning. We confronted this pivotal juncture by fostering inclusive discussions among family members, leveraging external expertise and distilling insights from diverse sources. These dialogues, marked by transparency and empathy, allowed us to harmonise individual aspirations with our family’s collective vision. It resulted in a structured succession plan, delineating roles and empowering each member to contribute meaningfully. This amalgamation of shared vision and strategic alignment fortified our family’s legacy while ushering in a future that seamlessly integrates our heritage with contemporary opportunities.
The Asia-Pacific Family Office Report 2023 by Campden Wealth and Raffles Family Office found that successful succession planning involves early exposure of the next generation to the family office (94% of respondents) and family values (93%). The willingness of existing family leadership to embrace the succession is deemed critical by 75%. These findings echo the core principles embedded in our approach at Richmount Ventures. Early exposure to the family’s core values and the intricacies of running a business along with understanding principles of business continuity and succession planning has been pivotal in shaping my journey.
The rapid pace of digitisation in India has created a fertile ground in sectors such as digital infrastructure, including cloud computing, data security and 5G development.
India’s investing landscape and the importance of patience
In the Indian investment landscape, several sectors stand out as promising opportunities from both an APAC and Indian investor perspective. The rapid pace of digitisation in India has created a fertile ground in sectors such as digital infrastructure, including cloud computing, data security and 5G development. Additionally, the surge in digital payments and mobile usage has elevated the significance of financial technology (FinTech), attracting investments in areas like digital lending, wealth management and blockchain solutions. The expanding middle class and increased digital penetration have driven growth in consumer tech, witnessed in e-commerce, edtech, gaming and healthcare platforms.
Furthermore, India’s commitment to clean energy and sustainability opens doors for investments in renewable energy sectors like solar, wind and green hydrogen. Government initiatives such as ‘Make in India’ are also encouraging investments in manufacturing,
particularly in electronics, pharmaceuticals, and automobiles. These sectors, combined with factors such as cultural affinity, a thriving entrepreneurial ecosystem and India’s strong focus on digital transformation, present a dynamic investment landscape ripe with potential.
One crucial lesson from my investing experience when structuring a family office is the significance of patience in decision-making. Rushed investment choices often lead to undue risks or missed opportunities. It’s essential to embrace a long-term perspective, allowing thorough due diligence, evaluation, and alignment with the family’s values and objectives. Rushing into investments can compromise the office’s stability and long-term growth potential. Therefore, taking the time to build a robust investment strategy aligned with your values and goals is key to sustained success in managing a family office.
Collaboration with international family offices is an important aspect of our strategy.
The significance of adaptation and collaboration
Within our family office, we measure our employees’ performance through a set of essential metrics. These include their alignment with our strategic objectives, adherence to core values, achievement against predefined objectives and targets, work efficiency, collaboration within teams, and commitment to continuous professional development. These metrics serve as benchmarks to evaluate their contributions towards our overarching goals, ensuring their work aligns with our values while fostering growth and success for the family office.
As a family office operating in the current times, our primary concern revolves around adapting swiftly to the rapidly changing economic landscape and market uncertainties. The volatility and unpredictability in global markets, geopolitical tensions, regulatory changes, and unexpected disruptions caused by any trigger events or geopolitical shifts pose significant challenges. Ensuring our investment portfolios remain resilient, diversified and capable of withstanding such unforeseen challenges while delivering sustainable returns remains a top priority. Additionally, managing risks associated with market fluctuations and at the same time identifying emerging growth opportunities amidst uncertainty are critical aspects of our decision-making of the family office.
Collaboration with international family offices is an important aspect of our strategy. Engaging with international family offices fosters a cross-pollination of ideas, allowing us to learn from diverse experiences, different investment approaches, governance models, and risk management techniques. Additionally, it provides an avenue for accessing global markets, leveraging local knowledge, and forming strategic alliances. Also, currently the world’s attention is on India and these kinds of strategic alliances can also help showcase emerging markets like India to international investors. Ultimately, such exchanges contribute significantly to enhancing our operational efficiency, optimising investment decisions, and broadening our perspectives on managing family wealth across diverse geographies.
Philanthropy and reporting
As discovered by The Next Generation Of Wealth Holders report, 46% of Next Gens can find it problematic to measure initiatives’ social / environmental impact and 41% confess they struggle identifying good causes to support. Creating effective philanthropic strategies for Next Gens can pose challenges in identifying causes and measuring impact. To overcome these obstacles, I suggest starting by defining a philanthropic mission aligned with your core values.
At Richmount Ventures, our commitment to mental health advocacy drives our goal of democratising access to mental and emotional wellbeing and care. Additionally, we believe in equal access to justice. So, we have partnered with professionals to provide pro bono legal assistance to undeserved groups, as part of our broader mission to support wellness and dignity for all.
To ensure effectiveness, establish measurable goals and KPIs for tracking initiative impact, we collaborate with field experts and utilise tailored measurement tools. For instance, our partnership with Swayam Foundation, focusing on affordable therapy, gender-inclusive counselling and caregiver support, addresses critical gaps in mental health services while fostering societal transformation. This collaborative effort includes specific goal setting and rigorous progress evaluation against predefined benchmarks.
My core life values revolve around authenticity, resilience, ethics, loyalty and a forward-looking mindset. These guide me to live genuinely, bounce back from adversity, make principled choices, cherish relationships and look ahead. Similarly, my business values focus on commitment, transparency, seamlessness and efficiency. I believe in keeping my word, being open, delivering smoothly and quickly.
I am also focused on the positive impact that my actions and decisions bring – this is an overarching value that governs both personal and professional life. Collectively these values guide my decisions, shape relationships, and define the legacy, I aim to build.
