- Sanket Parekh is the founder and managing partner of the venture capital fund Secocha Capital.
- He is also a member of R360, an invitation-only club for those with a net worth of at least $ 100 million.
- He told Insider what it’s like to be part of the exclusive club that puts family first.
This narrated article is based on a conversation with Sanket Parekh, the founder of a Miami-based venture capital fund who joined R360, a networking club for people with a net worth of at least $ 100 million. It has been edited for length and clarity.
I have two professional roles. One is a family business and the second is a business I created to create my own legacy.
I run a Miami-based venture capital fund, but I’m also the second generation of a family business that started in the late 1950s in India. It is a fairly large conglomerate that specializes in the manufacture of adhesives and sealants.
I have met other members-only clubs and none of them appealed to me as much as R360.
I’m a member of other professional networks like the Young Presidents’ Organization, but in most of these clubs you see a huge focus on personal growth as a professional. Few of them focus on the family as a business.
This is what drew me to R360.
A key factor that I appreciated is its ability to help families flourish and stimulate activities and interests to help develop human and intellectual capital.
Something R360 emphasizes on how members can engage with a set of like-minded people who potentially have similar challenges, and use their collective wisdom to help me be a better steward of the community. next generation. This is different from other exclusive clubs.
The process to become a member of the R360 was intensive – it should not be taken lightly. They are really looking for people who are genuine and join for the right reasons. And when you start having those conversations, you start to like the group a lot more. If this is a casual process just for the fun of it, you start to wonder if it will be worth it.
Part of the benefits of R360 depends on what you put into it. You can’t sit back and expect things to happen to you. You have to take the initiative to allow serendipity to take place.
A recent example is an R360 rally that took place on Richard Branson’s private Necker Island. I had the opportunity to sit down and have a 1: 1 conversation with Branson about family and inheritance and how to build a legacy that is beyond you.
It was just fascinating to have this level of conversation with someone as magnanimous as him and to learn from him. The beauty was that someone like him would spend 15 of the 30 minutes we were chatting asking me questions.
It is about the chance opportunity that you get when you are among people who have truly experienced life, which gives you the opportunity to harness collective wisdom very effectively.
The range of club members is a nice mix and that’s what I like too. It is not concentrated in a single industry. For example, I have met people from advertising to real estate to geology. They also belong to different age groups and have had very different upbringings.
I think back to my university life where I learned as much from my classmates as from my teachers. In that sense, the people you surround yourself with will enrich you or drag you down – and that’s why R360 is picky about who can join the club.
While a net worth of $ 100million gets you an R360 membership, it’s actually more about what the club brings to the table – people who have a similar life expectancy.