Building a Venture Backable Business: Lessons from Nectir’s Journey
When it comes to launching a startup, conventional wisdom suggests following your passion. However, Kavitta Ghai, Co-Founder & CEO of Nectir, suggests doing the opposite: “Don’t start a company based on your passion. Start something based on what pisses you off! That’s your domain of expertise.” This powerful message set the tone for a candid and fascinating panel discussion on February 4th in Santa Barbara featuring Kavitta and Julie Henley of Entrada Ventures, moderated by Jade Tran of Banc of California. We partnered with Countsy to host this engaging conversation between an exemplary co-founder at Nectir and their co-investor, Entrada. Nectir is one of the companies we selected into our SoCal Venture Pipeline program (powered by Banc of California) who also received investment from our Catalyst Fund which is jointly operated by Pasadena Private Financial Group, a co-host of the event.
Below are a few of the key insights that emerged from the engaging discussion:
The Power of a Balanced Team
Successful venture backed startups often start with a strong founding team. According to Julie, Kavitta and her co-founder, Jordan, exemplify this balance—she’s the visionary CEO driven by customer needs, while Jordan provides the necessary counterbalance. A yin and yang partnership is crucial for navigating the highs and lows of entrepreneurship.
Breaking Barriers as a First-Generation Founder
As a first-generation entrepreneur, Kavitta had no roadmap for raising VC funding or building a scalable company. Without an instruction manual, she had to forge her own path, learning by doing. This resilience and willingness to embrace the unknown became a defining characteristic of Nectir’s journey.
From Ideation to Execution
Nectir was born from a simple yet powerful question: If you could have the perfect experience at UCSB, what would it look like? From that conversation, Kavitta and Jordan envisioned the classroom of the future—one that fostered 24/7 student support. Despite having no technical background, they knew they had to build it.
Their first big break came at UCSB’s Shark Tank-styled Tameed Tank pitch competition, where Entrada Ventures’ founder, Brian Coryat, was in the audience. Kavitta and Jordan presented with just three slides— a “Hello” slide, a mock-up of their idea, and a “Thank You” slide. Despite the slim deck, the presentation piqued Brian’s interest who said “There’s a good idea somewhere in whatever you just said. Keep going.” That ignited their interest in becoming a venture backed startup.
The Brutal Reality of VC Funding
For two years, Kavitta and Jordan engaged in rigorous discussions with Entrada Ventures, refining their idea and understanding what it takes to be VC fundable. They learned that not every business needs VC funding—and that’s okay. The key is determining whether your idea aligns with a venture-scale opportunity.
Jason Spievak, another Partner at Entrada, advised them to examine their Total Addressable Market (TAM)—could their company realistically reach a billion-dollar valuation? Through persistence, they secured their first contract with UCSB, a critical customer and revenue milestone that validated their business model.
The Hardest Part: Customer Acquisition
Acquiring the first customer is a monumental challenge. For Nectir, UCSB was their first big win—but how did they land the second, third, and fourth customers? They focused on delivering exceptional value, so much so that UCSB itself became their biggest advocate. The key takeaway? If your product truly solves a pressing problem, customers will spread the word for you.
The Long Road to VC Investment
Nectir’s tipping point came with the UCSB contract. But getting there took two years of relationship-building, constant learning, and refining their pitch. Kavitta’s advice to aspiring founders? Closed mouths don’t get fed. Ask for what you need, build relationships, and keep proving why your company is worth the investment.
Grit: The Ultimate Success Factor
Kavitta highlights that grit is the number one determining factor of success. For seven years, she and her co-founder Jordan, endured countless challenges, only to hear people later claim they always knew Nectir would succeed. The truth? Success requires an unwavering commitment to pushing forward, even when things look bleak.
Finding the Right VC Partner
Early-stage investors like Julie Henley understand that no startup is perfect. The right VC doesn’t just provide capital—they invest in the founder’s journey. “Every time something goes wrong, Julie is the first person I call,” says Kavitta. The best VCs aren’t just backers; they’re long-term partners who help navigate obstacles. Kavitta and Julie’s weekly conversations over a four year period demonstrate the close VC-Founder relationship they built. While this is not the typical VC-founder relationship, it provided early support and learning to this first time founder team and set the company up for future success.
Final Thoughts
Starting a company is like building a plane while it’s falling out of the sky – and that’s what makes it exciting. The journey isn’t for the faint of heart, but for those with the grit, determination, and right support system, the sky’s the limit.
For investors like Julie, the search continues for more exceptional founders like Kavitta. And for entrepreneurs, the message is clear: Solve a real problem, find your yin to your yang, and never stop pushing forward.
Founder Support and Founder Events
If you’re a founder and want to attend authentic conversations and networking events like the one described above, we’d like to meet you. If you’re a founder ready to raise venture capital, we’d like to see if we can help and encourage you to apply to the SoCal Venture Pipeline.