01About Us
We are committed to being the first and the most active VC partners to our founders
As a home-grown VC, we have the DNA required to be an early partner with India-centric teams. With tech-disruption at the core, we back founders building for India or, from India. We aim to be the first institutional cheque for founders and the most active partner, committed to leveraging our network and expertise in order to catalyze our founders' superpowers.
We're thesis driven and disciplined about portfolio construction. Our efforts are focused on stated sectors where we can connect the dots, offer deep expertise and optimize human capital. The team approaches every discussion with humility - to keep learning, while being honest in our feedback and engagement. We're honoured to frequently connect with passionate entrepreneurs building game changing businesses.
We back founders who are solving big problems through tech disruption
We believe passion is innate and not acquired. We prefer EQ over IQ. We back founders with a high opportunity cost of entrepreneurship
We believe in founders who are going after large markets with a strong tech-driven, product-market alignment
We have a local approach with a global outlook. We have the ability to spot large local market problems spanning India’s breadth often with contrarian themes
We put founders ahead of markets, partnering on their 0 to 1 journeys. Our value-add construct and deep involvement sets us both for success
We are thesis driven. We invest in 5 - 6 high conviction bets every year. We continue to follow-on and support founders until Series C
Our Values
We back entrepreneurs that are solving big problems through tech disruption
Aligning with founders
Partnering with right teams and supporting their journeys
The Ganga, at Rishikesh, is where the river is still in its early phase. While Rishikesh is a beacon of tranquility, the mighty Ganges here is known for white water river rafting and rapids upto grade IV
As the earliest capital deployers in our portfolio companies, we engage deeply and work together with our founders as they scale, not knowing when the next rapid will get suddenly thrown, needing skillful navigation. We believe knowing who is with you is core to finding the path forward.
Clarity of purpose
Knowing where we are headed
The Umngot river, flowing through Shandong, Meghalaya, North East India. The water is so pristine and clear, one can peer into the bottom and count stones.
Image: Vikram Ramachandran
Having clarity of purpose is critical for us to make objective investment decisions and to operate with consistency and predictability. It helps us deliver outstanding economic outcomes simultaneously with outsized social returns
Celebrating our founders
Our founders are the real heroes. We simply empower and enable them on their journey.
The Royal Bengal tiger, Sundarban, West Bengal, East India. The Royal Bengal tigers rank amongst the biggest wild cats alive today. They have a unique combination and pattern of stripes and it is said that no two tigers will appear to be the same
Our investments into young businesses have resulted in many inspiring stories of founders’ resilience. While we enable and empower our founders, we always shine light on their indomitable spirit that makes them unique. We would like to express our gratitude towards the exceptional entrepreneurs behind the businesses we invest in and who, like the Royal Bengal Tiger, are the real unbound heroes.
Partnering for common purpose
Encouraging collaboration and driving consensus while building an sustainable ecosystem
The mangrove forest, Sundarbans, West Bengal, East India. The Sundarbans mangrove forest, one of the largest such forests in the world, lies on the delta of Ganga and Brahmaputra rivers, as these mighty rivers come together after completing several thousand kilometers of their journey and enter the Bay of Bengal together
The world today is grappling with a host of environmental and social problems and some of these are so glaring that they present an existential challenge. These challenges cannot be solved in isolation. The change needed requires consensus and collaboration and will not happen overnight. We continue to work with like minded partners and peers to help build not just better businesses but also a better planet.
Ethical decision making
Weaving the factors that drive decisions
Gandhi ji's Talisman. One of the last notes left behind by Gandhi ji in 1948, expressing his deepest social thought "I will give you a talisman. Whenever you are in doubt, or when the self becomes too much with you, apply the following test. Recall the face of the poorest and the weakest man [woman] whom you may have seen, and ask yourself, if the step you contemplate is going to be of any use to him [her]. Will he [shel gain anything by it? Will it restore him [her] to a control over his [her] own life and destiny? In other words, will it lead to swaraj [freedom] for the hungry and spiritually starving million? Then you will find your doubts and your self melt away". Mahatma Gandhi: The Last Phase, Vol. II (1958), p.65
Knowing which factors influence your decisions and knowing how to go about making responsible decisions is fundamental to establishing generational businesses. In building WaterBridge, we want to remain conscious of the values and ethos that lie at the core of how we decide and act.
Embracing sustainability
Identifying spaces where large outcomes can be built and sustained
The Ganga river, flowing through Haridwar, Uttarakhand, North India. The Ganga is amongst the largest rivers in India, flourishing the gigantic northern plains, sustaining life for centuries. Haridwar is where the river leaves the hills and enters plains, symbolizing a new phase in its long and varied journey.
For anything to sustain it needs to be embraced actively into our lives. Growing up in India, we learn to incorporate several practices in our daily life which emphasize living in harmony with nature and that this universe is one and everything and everyone is connected to each other. Putting this into practice, we are able to recognise that change is the only constant and we are all continually evolving as we move forward.
Our Investment Themes
B2B Manufacturing and Commerce
Regulatory and geopolitical developments have positioned India to be the next manufacturing powerhouse in Asia.
Indian manufacturing is still primarily MSME-led, characterised by a frugal cost base, but plagued with extremely fragmented revenue and margins. B2B commerce models that demonstrate early PMF, signs of capital-efficient growth, promise of the founder’s ability to get access to subsequent growth capital and eventual profitability at scale, are more likely to attract capital.
Themes of interest are around the 5Ms – Materials (IP-led manufacturing of value-add input products), Machines (aggregation of underutilised capacity), Manpower (design-led product innovation), Money (opportunistic plays in PLI-driven manufacturing) and Market (efficient supply chain and distribution plays)
Portfolio
B2B Manufacturing and Commerce
Building Global Businesses From India
Indian businesses are at an inflection point. They have access to the talent and resources needed to build world-class, innovative companies across AI-led SaaS, DeepTech, global platforms and brands—all at a fraction of what it would cost abroad.
As SaaS evolves into AI-driven models, India is well positioned to lead in horizontal, vertical, and infrastructure-focused AI disruption. Pure product excellence is no longer enough to scale, distribution and building a repeatable sales playbook to land large accounts are critical for success.
DeepTech is undergoing regulatory tailwinds and massive R&D activity. Capital availability is still challenging, but that landscape is changing rapidly as more companies stride towards revenue generation. India’s cost advantage, growing talent pool, & faster turnaround times make it ripe for global success. Key areas of interest include space tech, industrial robotics, advanced materials and synthetic biology.
We believe India is now positioned strongly to build global platforms & brands for the world. This is driven by strong geopolitical tailwinds (diversification away from China), UPI-driven FinTech scalability offering global learnings, government-led manufacturing initiatives, and rising India’s soft power on the world stage.
Building Global Businesses From India
Consumption and Micro-entrepreneurship
We have narrowed down India’s vast TAM, spanning 307M households, to focus only on 51M households that live in 468 towns (with ease of access) and earn >$6K per annum (having discretionary spending power). These households are slated to grow to 104M by 2031
We have further categorised them into Prime TAM 1 (digitally savvy 23M households in Metro & Boom towns) that offers a $232B opportunity, set to grow to $620B by 2031 and Value Tam 2 (value-first, highly aspirational 28M households in smaller cities and towns) that offers a $207B opportunity, set to grow to $456B by 2031.
The consumption patterns of these two TAMs are united by their behavioural traits (status seeking, bargain hunting, cashback and “jugaad” culture), but differentiated by how and where they would spend their time and money. While affluent Indians seek conveniences (in exchange for cash) and curated experiences, value seeking Indians want access to branded consumption and secondary/temporary sources of income.
Businesses building India-centric models leveraging digital, localized platforms to offer convenience and reach, competitive end-consumer prices, quality service delivery to new internet audiences across convenience, community and gig economy are of interest.
Portfolio
BimaKavach, Chalo, Citymall, EloElo, Magicpin, YellowMetal, ZET
Consumption and Micro-entrepreneurship
B2B Manufacturing and Commerce
Regulatory and geopolitical developments have positioned India to be the next manufacturing powerhouse in Asia.
Indian manufacturing is still primarily MSME-led, characterised by a frugal cost base, but plagued with extremely fragmented revenue and margins. B2B commerce models that demonstrate early PMF, signs of capital-efficient growth, promise of the founder’s ability to get access to subsequent growth capital and eventual profitability at scale, are more likely to attract capital.
Themes of interest are around the 5Ms – Materials (IP-led manufacturing of value-add input products), Machines (aggregation of underutilised capacity), Manpower (design-led product innovation), Money (opportunistic plays in PLI-driven manufacturing) and Market (efficient supply chain and distribution plays)
Portfolio
Building Global Businesses From India
Indian businesses are at an inflection point. They have access to the talent and resources needed to build world-class, innovative companies across AI-led SaaS, DeepTech, global platforms and brands—all at a fraction of what it would cost abroad.
As SaaS evolves into AI-driven models, India is well positioned to lead in horizontal, vertical, and infrastructure-focused AI disruption. Pure product excellence is no longer enough to scale, distribution and building a repeatable sales playbook to land large accounts are critical for success.
DeepTech is undergoing regulatory tailwinds and massive R&D activity. Capital availability is still challenging, but that landscape is changing rapidly as more companies stride towards revenue generation. India’s cost advantage, growing talent pool, & faster turnaround times make it ripe for global success. Key areas of interest include space tech, industrial robotics, advanced materials and synthetic biology.
We believe India is now positioned strongly to build global platforms & brands for the world. This is driven by strong geopolitical tailwinds (diversification away from China), UPI-driven FinTech scalability offering global learnings, government-led manufacturing initiatives, and rising India’s soft power on the world stage.
Consumption and Micro-entrepreneurship
We have narrowed down India’s vast TAM, spanning 307M households, to focus only on 51M households that live in 468 towns (with ease of access) and earn >$6K per annum (having discretionary spending power). These households are slated to grow to 104M by 2031
We have further categorised them into Prime TAM 1 (digitally savvy 23M households in Metro & Boom towns) that offers a $232B opportunity, set to grow to $620B by 2031 and Value Tam 2 (value-first, highly aspirational 28M households in smaller cities and towns) that offers a $207B opportunity, set to grow to $456B by 2031.
The consumption patterns of these two TAMs are united by their behavioural traits (status seeking, bargain hunting, cashback and “jugaad” culture), but differentiated by how and where they would spend their time and money. While affluent Indians seek conveniences (in exchange for cash) and curated experiences, value seeking Indians want access to branded consumption and secondary/temporary sources of income.
Businesses building India-centric models leveraging digital, localized platforms to offer convenience and reach, competitive end-consumer prices, quality service delivery to new internet audiences across convenience, community and gig economy are of interest.
Portfolio
BimaKavach, Chalo, Citymall, EloElo, Magicpin, YellowMetal, ZET