The company, which was started by Chandrasekhar in February 1996 with a $3-million venture capital and help from individual members of the New Delhi-based The Indus Entrepreneurs (TIE) .

Within a year of starting operations, Chandrasekhar gave away half of the management control to venture capitalists. Today, his holding is less than 7 per cent, but at $1.2 billion it translates into much more money.

"There is nothing wrong in getting managed. It is a strategic game plan, purely a business decision. Why get emotional about it," advises the young achiever. After going for an initial public offering in July this year, shares of Exodus were bought by Network Associates for $138 million.

Chandrasekhar, who is here as an angel investor under the aegis of TIE,is likely to close a deal within a week for funding a couple of companies. He has set aside $1 million to invest in at least two-three Bangalore-based companies, one of which is a start-up. The companies are involved in software development for Internet, E-commerce and data-warehousing. He is also keen to finance an internet-service provider.

According to Chandrasekhar, the biggest challenge for Indian entrepreneurs is not shortage of funds, as even venture capitalists are on the lookout for right ideas, but lack of exposure and risk-taking capabilities on both sides.

"Nevertheless the local software industry has come a long way. Today, there are hundreds of engineers brimming with ideas in Bangalore alone. All they need is evangelist investors initially who can act like mentors, venture capital comes next," he said.

In Chandrasekhar's success, his team played a crucial role. But in India, that can be rare to find. So, does it mean team-building is out of question here? "Not really, it is how you goabout it. Think, why should an experienced set of people join you and stay with you right through. It is not by perks alone. It is your honesty and the belief in the concept that has to be transmitted and then shared equally by all," he says.

Risk comes with a reward. Exodus offered 100 per cent employee stock option for not only its managers, but even secretaries, thus making most of its 500 employees millionaires in less than two years.

"They have to share your passion. In our early days, the parking lot used to be full of vehicles very early in the morning. How do you think I, an ordinary but hardworking Indian engineer who had no acquaintance in the US, nor received education there, managed all this?" he questions. What Chandrasekhar is too modest to admit is that a good teamleader is a must.

Creation of a congenial set-up, building a team culture and employee empowerment too are required. Exodus has an informal setting bereft of hierarchical layers.

"Salary incentives alone are a dumb thing. Youhave to ensure that your team members align their interests with the company's interests,"' points out an enthused Chandrasekhar.

He sees a problem in the family-run enterprise model among Indian corporates. This goes against the nature of risk-taking venture-capital management. Venture capitalists are known to reshuffle the boards too often which doesn't go well with Indian practices.

Exodus has had several board reshuffles, giving golden handshakes to those who were found to be unable to scale to the growing needs of the company. "It sure causes heartburn, but you have to suitably reward that," he adds. "What we need is a handful of young achiever first-generation businessmen who can become role models. Once that happens, you will see hundreds of Chandrasekhars bloom," he adds.