We don't have to invest. If we don't find something interesting, we sit on cash — that discipline shapes how we operate. Over six years we've built a portfolio of just eleven companies, chasing not trends but real value in businesses we believe in. We're not impact investors, we're in the business of making money for investors. As unit economics in mobility, solar and storage mature past subsidy dependence, we see ourselves as a feeder, de-risking models early so PE can scale what we've validated.
Our exits reflect that philosophy. We're happy making 15 to 20 times our investment rather than holding out for outsized, IPO-scale outcomes — Battery Smart returned roughly 18 times in two and a half years. With founders, we want to be the Ganguly to their Sehwag, backing them without fear of failure. Alignment over scale is the model, and that's where we diverge from conventional venture capital.
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