What we believe, and why we back it.
Our investing thesis is simple to state and hard to execute: the India–US corridor is the defining business axis of the decade, and the best returns come from capital that can also build.
We don't have a sector mandate. We have a conviction — and we let it, not a deployment target, decide where the money goes.
The conviction under the capital.
Every position we take traces back to a small set of beliefs. First, that the India–US corridor — talent, capital, and companies moving between the two markets — is the most important business axis of the decade, and that depth on it beats breadth everywhere. Second, that capital which can also build outperforms capital that can only watch, because operators change outcomes that money alone cannot.
Third, that conviction beats diversification at our scale: a few positions we understand deeply, backed with people, will do more than a spray of hopeful bets. And fourth, that the full lifecycle — including the situations that go wrong — is where an honest investor earns their edge, which is why distressed and special situations sit inside our thesis, not outside it.
Everything else — the stages, the structures, the sectors — is an expression of these beliefs.
Four convictions that decide where we invest.
The corridor is the edge
India–US movement is an advantage to underwrite, not a risk to avoid.
Capital that builds wins
Operators attached to money change outcomes that money alone can't.
Conviction over spread
A few deeply understood positions beat many shallow ones at our scale.
The whole lifecycle
Including distress and special situations — where honest edge is earned.
Founder alignment
We back people we'd build with, on terms that tie our outcome to theirs.
Asymmetry
Downside we can manage; upside worth the risk.
From belief to position.
Believe
Conviction — not a mandate — initiates a position.
Underwrite
We test the corridor edge and the asymmetry.
Build
Operators from Consulting and Cofoundry join the bet.
Steward
We own the outcome, up and down, alongside the founder.
The thesis runs through every kind of position.
Early-Stage
Conviction at the first cheque.
Mid-Market
Conviction at scale.
Distressed & Turnaround
Conviction in the downside.
Structures
How the conviction is carried.
The things people ask first.
Do you have a sector focus?
We're deepest where the corridor concentrates us — tech, AI, fintech, deeptech/defence, health, industrials, family-owned — but conviction leads, not a list.
Is the corridor a hard requirement?
It's our edge and usual filter. We occasionally back exceptional situations beyond it, but the corridor is where we're strongest.
Why include distressed in an investing thesis?
Because the full lifecycle is where honest edge is earned — and Errored Coin makes the downside a discipline, not a surprise.
What's the single most important factor?
Conviction we can act on — a real edge, a founder we'd build with, and a way for our operators to change the odds.
Share our conviction?
Tell us what you're building. If it fits the thesis, we'll move.