Building a Technology-Focused Private

Equity Fund in India

Why We're Choosing a Sector-Specific Approach

After careful consideration of the Indian market landscape, we believe there's a
compelling opportunity to create significant value through a focused approach.
Rather than spreading ourselves thin across multiple sectors, we're zeroing in on
what we know best: technology and digital transformation.
Why this makes sense for us:
The tech sector in India is reaching an inflection point, with digital adoption
accelerating across businesses and consumers alike. By developing deep expertise
in this space, our team can:
 Build meaningful relationships with founders who appreciate our sector
knowledge
 Conduct more insightful due diligence that goes beyond financial metrics
 Create substantial post-investment value through our industry connections
and expertise
 Navigate the unique regulatory and competitive dynamics of India's tech
ecosystem
While diversification has its merits, we believe that in a complex market like India,
specialization gives us a decisive edge in identifying tomorrow's winners.
Who We're Partnering With
We're approaching potential investors who bring more than just capital—they offer
strategic insights, networks, and credibility that will amplify our fund's impact.
High Net Worth Individuals
Nandan Nilekani - As Infosys co-founder and former Chairman, Nandan brings
unparalleled credibility in the Indian tech landscape. His journey from entrepreneur to
business leader means he understands what it takes to scale technology businesses
from the ground up. His vast network across industry and government would be
invaluable for our portfolio companies.
Falguni Nayar - Nykaa's founder has demonstrated what it takes to build a digital-
first consumer business in India. Her insights into e-commerce, brand building, and
the evolving Indian consumer would be particularly valuable as technology
increasingly intersects with consumer sectors.
Kunal Bahl - Having weathered the ups and downs of the Indian startup ecosystem
with Snapdeal and now as an investor through Titan Capital, Kunal brings practical
wisdom about navigating growth challenges. His connections to the next generation
of founders would enhance our deal flow.
Sanjeev Bikhchandani - Few people understand online business models in India
better than the founder of Info Edge. His experience building multiple successful
digital platforms (Naukri, 99acres, Jeevansathi) gives him unique insights into what
makes internet businesses work in the Indian context.
Rekha M. Menon - Her leadership experience at Accenture India bridges the gap
between global technology trends and local market realities. Her expertise in
enterprise digital transformation would be particularly valuable as traditional
businesses increasingly embrace technology.
Family Offices
PremjiInvest - As Azim Premji's investment arm, they bring patient capital and a
long-term perspective that aligns perfectly with private equity timelines. Their
experience backing successful Indian businesses makes them an ideal anchor
investor who can provide strategic guidance beyond capital.
Catamaran Ventures - Founded by N.R. Narayana Murthy, their focus on innovative
ideas and strong founding teams complements our investment philosophy. Their
ethical values and experience nurturing Indian startups would add significant
credibility to our fund.
Where We're Focusing Our Investments
Our sweet spot is Growth Equity. We're looking for companies that have:
 Proven their product-market fit
 Started generating meaningful revenue
 Established their core offering
 Need capital and strategic support to scale operations, expand markets, or
strengthen their position
This approach offers a compelling balance of risk and reward. The companies have
moved beyond early-stage uncertainties but still have substantial growth runways
ahead. Our capital can be strategically deployed to accelerate their trajectory over a
3-5 year horizon.
While we may selectively consider late-stage opportunities when they present
exceptional value, our primary focus remains partnering with promising growth-stage
technology companies where we can actively contribute to their success story.
How We're Finding the Best Opportunities
Our market scouting approach is relationship-driven and proactive. We're not waiting
for deals to come to us—we're actively building connections throughout the
ecosystem to identify promising companies before they hit the broader market.
Our multi-pronged approach includes:
Tapping into our investor network - Our LPs aren't just capital providers—they're
our eyes and ears in the market. Their introductions often lead to opportunities that
wouldn't appear in traditional deal channels.
Active participation in the ecosystem - We're regularly present at key industry
events, not just as attendees but as thought leaders and active participants. These
forums help us spot emerging trends and connect with innovative founders.
Building direct relationships with founders - We're reaching out to promising
companies before they're actively fundraising, establishing relationships and
understanding their businesses without the pressure of an immediate transaction.
Strategic advisor partnerships - We're collaborating with boutique investment
banks, consultants, and industry experts who can provide specialized insights and
connections in our target sectors.
Data-driven opportunity identification - Beyond relationships, we're leveraging
market intelligence platforms and analytics to identify high-growth subsectors and
promising companies systematically.
This approach helps us build a proprietary deal pipeline while fostering genuine
relationships with founders—a critical advantage in a competitive investment
landscape.
What We Look For When Evaluating Companies
While our due diligence is comprehensive, two factors stand out as particularly
critical when evaluating potential investments:
1. The People Behind the Business
We fundamentally believe that exceptional teams build exceptional companies.
When evaluating management, we focus on:
Proven experience and track record - Has the team successfully navigated
challenges and achieved milestones in relevant contexts? Past performance often
indicates future potential.
Compelling leadership and vision - Can the leaders articulate where they're going
and why it matters? Do they inspire others to join their journey? The best founders
have both tactical skills and strategic vision.
Integrity and cultural alignment - We're looking for partners who share our values
and commitment to building sustainable businesses. Trust is non-negotiable in these
long-term relationships.
Team completeness and dynamics - We assess whether the team has the right
mix of skills to execute their plan and how effectively they work together. A cohesive
team with complementary strengths is often more effective than individual brilliance.
We've seen time and again that a strong team can overcome business model
challenges, while even the most promising markets can't compensate for leadership
gaps.
2. A Business Model Built for Scale and Sustainability
Beyond the people, we focus intensely on whether the business can grow
substantially while maintaining or strengthening its competitive position:
Path to efficient scaling - Can the company grow rapidly without proportional
increases in costs? We look for inherent leverage in the business model, whether
through technology, network effects, or other scalable advantages.
Sustainable competitive advantages - What protects this business as it grows?
This could be intellectual property, network effects, brand strength, customer
switching costs, or proprietary technology—but there must be something that creates
lasting differentiation.
Healthy unit economics - Understanding the fundamental economics of each
customer relationship helps us assess long-term viability. We analyze customer
acquisition costs, lifetime value, and the path to profitability at scale.
Adaptability in a changing landscape - In technology particularly, the ability to
evolve with market conditions and continue innovating is essential for long-term
success.
By focusing on these critical factors, we aim to identify companies that can not only
capture significant market opportunities but sustain their competitive edge as they
scale—ultimately delivering exceptional returns for our investors while building
meaningful businesses in India's technology ecosystem.