Investment Thesis
Tech adoption and rising incomes in emerging markets is creating a generational opportunity for new entrants.
New companies following business models proven in Western and developing markets (China and India) are restructuring traditional industries and taking a leading role in core economic sectors.
We Invest in B2B and B2B2C in Emerging Markets
Target verticals
Logistics
Supply chain
Distribution
Transportation
Fintech rails
Target emerging markets
Africa & MENA + Turkey
South Asia
Latin America
Southeast Asia
Target natural regional monopolies or oligopolies
Two sided marketplaces with many participants on each side
Large economies of scale
Strong first mover advantage
National or regional market
Logistics, supply chain, distribution, and financial infrastructure are the lifeblood of economies
60-80% of EM consumer spend is vital necessities; Reduce their cost instead of competing for consumer dollar
Smartphone adoption enables mobile internet business models and transforms economies
Rising disposable income drives consumption and creates a new middle class
Global investors (Sequoia, Softbank, Tiger) are entering these markets and investing in earlier- stage companies
Smartphone adoption enables mobile internet business models and transforms economies
Our Investment Strategy
The team has a record of success and experience through working and living in emerging markets
Identify large natural monopolies / oligopolies with local winners, replicable across markets and geographies
Identity best business model for each vertical
Identify best companies in each market / vertical implementing our preferred business model
Invest usually post-revenue, post-traction, preferably with a reputable co-investor
Build synergistic ecosystem of mutually supporting investee companies