Ex-CFO of Myntra admits: ‘I would have been a terrible CFO!’

• Meet Dipanjan Basu, Co-founder and Partner at Fireside Ventures, an early-stage consumer brands-focused venture fund, with INR 3000 Crores of assets under management.
• Throughout his career, he consistently chose the road less traveled, much to his parents’ dismay, from Senior Manager Finance at Wipro Limited to diving headfirst into business roles.
• During our Bangalore Disrupt Event, he shares his journey.

Early career

I joined Wipro in its early days as an IT services startup.

Needless to say, the choice was met with skepticism, especially from my parents.

They questioned why I hadn’t opted for more prestigious companies like Oil and Natural Gas Corporation Limited (ONGC) or ITC, or consulting firms such as PwC or KPMG. (Typical Indian Parents)

At that time, Wipro seemed like a less favorable choice.

However, a surprising rise in the company’s stock value that year briefly validated my decision and highlighted the potential of unconventional paths.

Sometimes, taking risks and choosing less obvious options can lead to unexpected rewards.

Transitioning to business roles 

During my tenure at Wipro, I had the opportunity to work with exceptional finance leaders and experience a unique business-first culture.

Influenced by practices from GE- General Electric, Wipro fostered an environment where leadership was not confined to a specific function.

This approach emphasized the importance of understanding the business as a whole, rather than focusing solely on finance.

At Wipro, I realized that my strengths lay outside traditional finance roles.

Despite being surrounded by highly skilled finance professionals, I recognized that my career would benefit from exploring broader business responsibilities.

This self-awareness led me to transition from finance to a business role when Wipro launched its digital division.

Also read: Unilever India’s CFO shares 3 pieces of career advice on LinkedIn. So, what are they? 

Switching job roles at the right time

Joining Myntra (a Flipkart subsidiary) as a CFO, during a time of intense scrutiny and skepticism about the e-commerce model was another unconventional choice I made.

Despite the challenges, this role provided me with a unique perspective on high-growth companies and their business dynamics.

Although my position was officially in finance, it involved significant business responsibilities, offering valuable lessons in navigating rapid industry changes.

But being a CFO was not my calling.

I think finding out that I was not strong at core finance roles and moving out at the right time changed the trajectory of my career for good. I would have remained a terrible CFO, had I stuck around.

From CFO to Partner at a Venture Capital

In 2017, the serendipitous meeting with Kanwaljit Singh, founder of Fireside Ventures marked a pivotal moment in my career.

Fireside Ventures is an early-stage venture fund with a focus on consumer brands.

I knew what I wanted to do.

In 2019, I joined them as a Co-founder and a Partner.

The transition into venture capital and investing was an opportunity that aligned with my growing interests.

Also read: Chartered Accountant turned Partner at an early-stage VC firm answers questions about startups, angel investing and fund raising

Wrapping up

Throughout my career, a deep sense of self-awareness allowed me to make informed career choices based on my strengths and weaknesses.

My commitment to continuous learning and pivoting, regularly reassessing my fit within current roles, and being willing to make significant career changes based on self-reflection helped me get to where I am today.