Reserving funds for the moonshots

What is your investment thesis?

We focus on addressing the white space in backing mature, experienced founders building in India for the world — specifically in the enterprise tech and business-to-business (B2B) space.

We have raised ₹816 crore, of which 40 per cent has been deployed across six investments. Our fund follows a dual-pronged strategy, with 80 per cent allocated to early-growth, sector-agnostic enterprises or B2B tech startups, and the rest is reserved for high-conviction moonshots in areas such as robotics, space-tech and deep-tech.

What is your average cheque size?

We typically invest $5-10 million in startups, and prefer being the lead investor.

How do you evaluate moonshot investments?

Moonshots are big, bold bets, where conviction precedes proof. We look at futuristic sectors — robotics, green-tech, space-tech — where the trajectory isn’t entirely visible yet, but we believe the potential is transformative.

What sort of founder qualities do you look for before investing?

We try to understand whether the founder is in it for the long haul or is just aiming for a quick 100-m sprint. Secondly, we evaluate their ability to handle pressure. The third crucial factor is the strength of the team. There’s often an assumption that if you’re doing 10 units of work today, adding 10 more people means you’ll do 20 tomorrow but in the enterprise space, it doesn’t work that way. A founder can’t just clone themself. So, we look for a strong team that can execute independently and scale up sustainably.

Do you prefer taking a board seat?

Yes, we prefer taking a board seat, or at least a board observer seat. We believe that startups need not only financial support but also guidance in governance and scaling up — because scaling up isn’t merely arithmetic. That’s where our expertise comes in, and we like to be involved in defining the company’s strategy.

Which are the industry trends you’re watching currently, given the geopolitical tensions and tariffs?

The current geopolitical tensions and tariffs are pushing countries toward self-reliance, boosting sectors like defence, telecom, space and financial services. Health-tech and agri-tech also show promise, and fintech remains attractive.