The Tej Kohli Story

Tej Kohli is an investor and philanthropist who with wife Wendy Kohli created the Tej Kohli Foundation in 2005. The Foundation focuses on developing solutions to major global health challenges whilst also making direct interventions that transform lives. Under Tej’s guidance the Foundation has become a global hub for interdisciplinary innovation as part of a global mission to eliminate needless corneal blindness worldwide by 2035.

Indian Institute of Technology

Tej Kohli was born in Delhi, India in 1958, the son of a journalist father and a diplomat mother. In 1980 he graduated in Electrical Engineering from the Indian Institute of Technology in Kanpur, which would later confer upon him the Distinguished Alumnus Award for serving society at large.

Early Career

Tej’s first and only ‘job’ was installing tachometers for a company in Delhi, where he designed and then sold an innovative new process controller for a major manufacturer. The contract transformed the prospects of his employer and gave Tej a first taste of his entrepreneurial appetite.

USA Real Estate

In 1981 Tej’s mother, a diplomat for the Indian Government was posted to the USA and Tej went with her. By the mid 1980’s he had established himself as a property investor in California, where he founded a company specialising in the discounted bulk purchase of foreclosed multi-unit real estate assets from S&L’s, bankruptcy trustees, HUD and the Veterans Association at cents on the dollar. Hundreds of employees at the company’s Beverley Hills headquarters specialised in rapidly transacting the re-sale of thousands of the individual units at market rates. The company also acquired a mortgage bank that provided mortgages funded by Freddie Mac and Fannie Mae.

An Early Mistake

In a major setback for Tej, his prodigious early success came to an abrupt end in a Federal Court, when he admitted to unwittingly ‘aiding and abetting’ mail fraud in 1988 when he was aged 28. Tej had received wire payments for the seemingly legitimate sale of some of his residential units, whose sale had been transacted using a novel mechanism by a distant third party. Tej had received payment for each sale from funds which, unbeknown to Tej at the time, the third party had obtained fraudulently from financial institutions. Tej unwittingly found himself on the wrong side of the law as the passive recipient of ‘ill-gotten-gains’.

Rebuilding Himself

After serving a short sentence at the minimum security Nellis Military Camp in Nevada, in 1999 Tej left the United States and met his future wife Wendy in Costa Rica, where he decided to stay. Determined to rebuild himself and not to be outdone or defined by a single mistake made in his twenties, in 1999 Tej founded an online payments company in Costa Rica that quickly became known worldwide for its market-leading fraud protection software.

Liquidity Event

The company grew quickly by specialising in payment gateways and a wide array of associated services for clients in high-risk sectors such as gaming, dating and travel; and later also diversified into the acquisition, turnaround and sale of distressed online gaming properties. By 2006 the company employed an army of software developers amongst hundreds of staff.

Tej Kohli sold the company in 2006 for an undisclosed sum, and the Kohli family moved to a new family home in the United Kingdom. Earn outs from the sale continued until 2012, during which time Tej visited the company in Costa Rica twice per year.

Rebuilding Others

After enjoying early success, enduring a huge setback, rebuilding a new life from scratch and once again attaining a level of substantial success, the sale of his company was a watershed moment for Tej. He now had the resources to fulfil a promise that he had made to himself a decade earlier: that he would use the resources and experience that he had accumulated rebuilding himself to help others rebuild themselves. Already in 2005 Tej had initiated an early philanthropic project by opening free ‘FundaKohli’ canteens to feed children and families in Costa Rica.

Global Real Estate

By 2008 Tej was focused entirely on investing in and building his ‘Zibel’ real estate portfolio in India and South East Asia. He continued to build a substantial real estate asset base by focusing on new premium real estate acquisitions in the UAE and Europe. The appreciation and income stream from the Zibel property portfolio today funds the Tej Kohli Foundation.

Technology Investor

After 2006 Tej also became an investor into innovative technology ventures focused on artificial intelligence, robotics and genomics through his investment vehicle Kohli Ventures; and also made new acquisitions in the global payment processing sector, including the acquisition of DynaCart in 2014. Since 2018 Tej Kohli has also made two substantial investments into Rewired, a robotics-focused venture studio with a humanitarian bent.

Esports Investor

Rewired also includes a sister venture fund that is focused on investing in the global growth phenomenon that is esports. Through the Esports Venture Fund, in 2018 and then again in 2019, Tej led Europe’s largest ever esports team investment with a €34m investment into Europe’s leading and most innovative esports brand and its innovative young founders.

Biotechnology Investor

Tej is also the lead backer of Detraxi, a US-based company that plans to save millions of lives worldwide by developing its proprietary biotechnology solution for a range of global health challenges. Detraxi is working in collaboration with some of the worlds most talented and respected scientists across fluid replacement, diagnostics, transplantation and regenerative medicine. The Detraxi biotechnology has already undergone several clinical studies. It is currently undergoing pre-clinical trials at Johns Hopkins University.

M&A and Turnarounds

In 2010 Tej also backed an M&A roll-up of plastic surgery clinics in the USA, exiting in 2015. And in 2015 Tej became lead investor in a B2B SaaS platform technology provider where he instigated a turnaround program. The privately held company, which has dual headquarters in Europe and in China, currently employs 300 software developers in 8 offices worldwide.

Finding A New Calling

In 2010 the Tej Kohli Foundation funded its first donor cornea implants at Niramaya Hospital in India. Tej was present when a 50-year-old patient, who had been blind for decades, had the bandages removed after a corneal transplant and saw his wife and grown up children for the first time. Tej immediately decided that eliminating corneal blindness was his calling.

Tej Kohli Cornea Institute

After funding thousands of corneal transplants at Niramaya Hospital, in 2015 the Tej Kohli Foundation substantially expanded its efforts to tackle corneal blindness in poor and underserved communities with the ambitious launch the Tej Kohli Cornea Institute in Hyderabad. Between January 2016 and November 2019 the Tej Kohli Cornea Institute welcomed more than 223,404 outpatients and completed more than 43,255 surgical procedures, largely for free.

Ending Corneal Blindness

Tej has also driven the Tej Kohli Foundation’s pursuit of a ‘universal treatment’ for corneal blindness through it’s ‘Applied Research’ program, a longstanding scientific collaboration between researchers in Montreal Canada, and Moorfields Eye Hospital, UK. In January 2020 the ‘Applied Research’ program announced that it had moved one step closer in its mission to invest an affordable, accessible and scalable universal cure for corneal blindness through the regeneration of corneal tissue. In 2019 Tej also funded the Tej Kohli Cornea Program at Massachusetts Eye And Ear in Boston with an initial donation of $2m.

Future Bionics

Tej Kohli is a strong believer in the power of technology to improve human life, and in late 2019 he was proud to launch the Tej Kohli Foundation’s first UK project: the ‘Future Bionics’ program. The program funds the purchase and fitting of 3D-printed bionic ‘Hero Arms’ for young people with limb difference in the UK; and highlights how technology can substantially improve the lives and confidence of younger people living with disabilities.

Revealing His Comeback Story

For many years Tej believed in keeping his early story private for fear that it would create prejudice within his business and personal relationships. He feared that others would use a single mistake made in 1988 to cast aspersions about his character or to denigrate his contemporary achievements. But Tej Kohli knows an awful lot about comebacks.

Now in his sixties and a father to two teenagers, Tej has embraced the opportunity to inspire and educate younger people by sharing his story. He has given talks about the importance of rebuilding one’s self even after a major setback. And he is increasingly seeking to engender within the entrepreneurs that he mentors the belief that it is never too late to find success.

Inspiring Others

Many of the team who started their journey with Tej Kohli have gone on to build their own successful global businesses, and Tej is proud of his mentorship of these entrepreneurs. This mentorship philosophy continues today through the investments of Kohli Ventures, where Tej is backing and mentoring entrepreneurial founders as they build technology businesses.

As Tej says of his comeback story: “No matter what you do there will always be people who want to bring you down. But they only want to see you down because it makes them feel better about themselves. Don’t give them that satisfaction. Keep building yourself. Keep giving back. And keep helping others.”