Over the past decade, technology focused indices have consistently outperformed broader market indices, reflecting the growing dominance of innovation-led enterprises globally. The NASDAQ, driven by a matured U.S. tech ecosystem, has significantly outpaced both domestic and international benchmarks delivering an IRR of ~18.75%. This outperformance stems from the maturity of the US tech ecosystem, where large scale companies have gone public and created long-term value for investors.

Interestingly, Indian tech indices such as NIFTY IT and BSE IT have also delivered strong IRRs of over 16%, outpacing traditional benchmarks like the Nifty 50 and Sensex in the recent years, signaling the deepening and maturity of the maturing Indian tech ecosystem, which is now home to over 100 unicorns many of which are headed for public listings or strategic exits.

When comparing broad market indices, Nifty and Sensex have also delivered superior returns (IRR ~13 -13.5%) compared to the S&P 500, Nikkei, HangSeng particularly over the last 5–10 years, reflecting India's strong macroeconomic fundamentals, growing digital economy, and increased investor participation. The US market has long benefited from mature tech ecosystems. India is entering a similar phase and our thesis aligns with this trajectory. Our fund strategy is built around capturing India’s tech evolution through early growth and scaled investments in enterprise B2B tech backing high growth, tech-led businesses poised for value creation.