Anupam Rastagi

If we had one or two or three companies that were to exit for the billions of dollars, that's what really creates returns for our own investors.

So we are really gunning for that.

Of course, not all 22 or 25 companies will get there or even close.

But in every company, we are looking for that ability of that company and the vision of the founder

which would get them to potentially half a billion to a billion type exit, 100 million ARR, let's put it that way.

So if we see something where we think the probability of that is higher, let's say a typical company maybe has 5% likelihood of getting there and we're investing, but if we see some company has more than that, so it's low in absolute terms, but it's higher than the rest, then

able to stretch, but I'd say, yeah, we rarely do that.

We try and just come in super early.

We're happy to form a conviction before others, before the deal is hard, before other people are able to hang their hat on, before there's a lot of numbers and we're able to, it's a vast majority with single digit valuation.

Yeah, quite a wide range, safe rounds, pretty clean.

We can do it in as little as a few days and we have done it.

And then in some cases where there's complex, you know, we have quite a few cross geography companies.

So all our companies are US market focused, but we have quite a few companies that are building in places like India.

We also have companies from places like, you know, Europe and other places.

So sometimes those require more work and more legal review.

And sometimes they may require changing the structure, which the funders anyway plan to do.

And those could take, you know, a few months to three months.

That's a median is probably three, four weeks.

Combination.

So we have a few institutions that are investors, which are bulk of the capital is from those institutions.