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 Commerce
Regulatory, Structural and Geo-Political Changes have positioned India well to gain manufacturing capacity and build quality products for the world
B2B commerce models have shown promise of success with sustainable economics. Demand enablement for Indian SMEs, Productivity Tools to enable digital transformation and the creation of “Smart Factories” and Procurement Tools to remove friction from supply chains and enable better access to raw materials with better economics are exciting themes for us
Portfolio
B2B Commerce
Climate
The last 2 decades saw investments in capex heavy solar, wind energy and then in 2W EV manufacturing
ClimateTech is seeing early investments. Our anti-portfolio includes battery swapping and Al for agriculture
Climate
DeepTech
India’s DeepTech ecosystem is at an inflection point due to regulatory tailwinds and R&D activity. Capital, talent availability is still challenging
Al and SaaS constitute for the bulk of investments so far. A VC led role model from India will help broad-base interest and maturity of the ecosystem
DeepTech
FinTech
Cashless economy, infrastructure for financial stack and higher efficiencies in digital payments as well as FinTech rails (including for incumbent financial service players)
Lower cost of underwriting, distribution of financial products, and expanding reach across consumers, SMBs including Neo-banks (verticalized preferred) and DeFi
Portfolio
FinTech
Consumer
Leveraging digital, localized platforms to offer convenience and reach, competitive end-consumer prices, quality service delivery to new internet audiences across Commerce, Gaming and Mobility and the Gig Economy
India-centric business models (price points) with solid unit economics and organic customer acquisition including for “Bharat”. Platforms for creators, new digital distribution platforms including omni-channel activation and enablement for D2C brands
Consumer
Global SaaS
4 – 5 million software, product development workforce building the next Zoom / Slack / Freshworks out of India for global markets with preference for vertical plays
Low ACVs, high-velocity sales through India-centric teams. High ACV for enterprises through India-US hybrid models in new defining categories like Modern Data Stack, DevOps, Contract Management, Data Governance and API stacks
Global SaaS
EdTech
Ed Tech 1.0 was about large vertical focused high attribution platforms like Unacademy. Our 2.0 thesis involved backing low CAC, product-led growth models like DoubtNut. 3.0 is all about new markets, original IP, and Web3 inspired innovative, product-led models with democratization of supply and demand, unique customer acquisition strategies, content and monetization models
Portfolio
EdTech
HealthTech
Govt health stack, shortage of, or inefficient physical infrastructure and low digital penetration are creating tech disruption opportunities across the board. Covid-led behaviour change (consumers, businesses, medical professionals and employers) and hybrid work induced adoption of digital health tools and platforms. Innovations in preventive and holistic health, distribution and delivery
Portfolio
HealthTech
B2B Commerce
Regulatory, Structural and Geo-Political Changes have positioned India well to gain manufacturing capacity and build quality products for the world
B2B commerce models have shown promise of success with sustainable economics. Demand enablement for Indian SMEs, Productivity Tools to enable digital transformation and the creation of “Smart Factories” and Procurement Tools to remove friction from supply chains and enable better access to raw materials with better economics are exciting themes for us
Portfolio
DeepTech
India’s DeepTech ecosystem is at an inflection point due to regulatory tailwinds and R&D activity. Capital, talent availability is still challenging
Al and SaaS constitute for the bulk of investments so far. A VC led role model from India will help broad-base interest and maturity of the ecosystem
FinTech
Cashless economy, infrastructure for financial stack and higher efficiencies in digital payments as well as FinTech rails (including for incumbent financial service players)
Lower cost of underwriting, distribution of financial products, and expanding reach across consumers, SMBs including Neo-banks (verticalized preferred) and DeFi
Portfolio
Consumer
Leveraging digital, localized platforms to offer convenience and reach, competitive end-consumer prices, quality service delivery to new internet audiences across Commerce, Gaming and Mobility and the Gig Economy
India-centric business models (price points) with solid unit economics and organic customer acquisition including for “Bharat”. Platforms for creators, new digital distribution platforms including omni-channel activation and enablement for D2C brands
Global SaaS
4 – 5 million software, product development workforce building the next Zoom / Slack / Freshworks out of India for global markets with preference for vertical plays
Low ACVs, high-velocity sales through India-centric teams. High ACV for enterprises through India-US hybrid models in new defining categories like Modern Data Stack, DevOps, Contract Management, Data Governance and API stacks
EdTech
Ed Tech 1.0 was about large vertical focused high attribution platforms like Unacademy. Our 2.0 thesis involved backing low CAC, product-led growth models like DoubtNut. 3.0 is all about new markets, original IP, and Web3 inspired innovative, product-led models with democratization of supply and demand, unique customer acquisition strategies, content and monetization models
Portfolio
HealthTech
Govt health stack, shortage of, or inefficient physical infrastructure and low digital penetration are creating tech disruption opportunities across the board. Covid-led behaviour change (consumers, businesses, medical professionals and employers) and hybrid work induced adoption of digital health tools and platforms. Innovations in preventive and holistic health, distribution and delivery