Editor's note: This year we honored some of the brightest young minds in the Bay Area innovation sector as part of our Inno Under 25 feature. Check out all the profiles from this years honorees here.
VC investing isn’t just for those who have already made it (or were born into it). Ruchit Majmudar is taking on the role of VC for JetBlue’s venture wing, helping cut deals to get a piece of fast rising startups in the diverse hospitality industry. The Bay Area native has had a long fascination with airplanes and the travel industry more broadly, jet-propelling him into a career working at some of the most forward thinking wings of corporate airlines, starting with a stint in Southwest’s strategy and innovation department.
Ruchit Majmudar
- Age: 25
- Title: Senior investment analyst at JetBlue Ventures
- Residence: San Francisco
- Education: Bachelor’s in economics, UCLA
- What they do: Investing in startups in the commercial aviation, travel, and hospitality industries
How did you get into the airline business? I think it was partially the love of travel, but also my parents growing up would take me to the San Jose airport, and we would watch the planes take off. And there’s always a childhood fascination with air travel. So I ended up at an airline after college, Southwest, in their strategy and innovation group.
Are there any deals at JetBlue Ventures that you are most proud of? During the pandemic, when air travel was not as high as it has historically been, we looked at different revenue sources. One of those short-term rentals. Like we know, if you’re going to Florida for two weeks with a family of five, most likely you might not be staying at a hotel, you’re getting an Airbnb. I ended up cold emailing the CEOs of a few different large property management startups and we ended up making an investment on one. And today if you fly JetBlue, you’ll get an email as soon as your ticket is confirmed offering you a short term rental.
What are your thoughts on Gen Z? There’s so many young people who think about things so much differently and when they come across problems, they’re like, “Wait a sec, I can solve this or I can build this.” So I believe there’s a mindset shift that you don’t necessarily have to have credentials to go out and be in venture or be an entrepreneur or be in the travel tech industry. In fact, you don’t even need to work in travel before, you can just be a traveler or be someone who’s seen a problem and build a startup to solve it.
Who’s your greatest influence? Her name is Shefali Razdan Duggal [currently serving as U.S. ambassador to the Netherlands]. She’s kind of a San Francisco icon and someone I met when I was 13. Shefali kind of embodies a person who’s good at building authentic, deep, meaningful relationships with entrepreneurs across the board. I met her when I was volunteering at a conference and sent her an email after being like, “Hey, can we grab coffee?” She didn’t demean me for being young or different than anyone else and gave me the time of day.
