The Weekly Digest #1
A focused recap of what we’re publishing, reading, and tracking
First, a BIG THANKS to you for supporting us so far.
Starting this week, we’re piloting this new format to give you faster access to insights. Each week, you’ll get a quick view of our latest stories, standout reads from across the ecosystem, and reports worth revisiting.
Let’s dig in!
Are Platforms and Infra Players Disrupting the Power Balance of the Banks?
Embedded finance is redefining power of banks by decoupling capital from origination. Platforms now own the customer interface, while infra APIs control distribution and underwriting. Banks, unless adapted, risk becoming invisible utilities. In this article, we examine how embedded finance is reshaping the financial services value chain and what this means for the future of underwriting, capital flows, and control.
Why This VC Walked Away from Startups to Fix Salons and Scale SMEs
In another interesting story from this week - after 17 years of early-stage investing, Sanjay Enishetty, a seasoned VC and former CEO of Naturals Salons, reflects on the diminishing edge in the startup game and why India’s mid-market with real cash flows, modest asks, and latent opportunity might be the more rewarding frontier.
From Commodity to Capital Multiplier
Nagessh, founder of Curry Nation, tells us that private equity firms have not fully tapped into the asymmetric value of brand perception in their investment strategies. While brand-building typically lacks immediate visibility on the P&L, it can meaningfully de-risk exits, strengthen investor narratives, and generate organic customer demand. This pull effect can, in turn, reduce reliance on dealer incentives and improve margins. For funds focused on operational alpha, brand may be an underutilized lever.
📚 What We’re Reading
India Private Equity’s Long Wait for an Institutionalised Local LP Base
India's PE firms are beginning to court domestic institutional investors…and while demand is strong (ChrysCapital's latest fund includes ~$200M of local capital), onboarding local LPs requires structural compromises that may dilute alignment and add complexity. Read more
Fintech Dystopia by Hilary J. Allen
If there’s one thing you read this weekend, make it this.
When publishers passed on her book about the darker truths behind Silicon Valley’s fintech playbook, Professor Hilary Allen decided to publish it online, chapter by chapter. FinTech Dystopia is a sharp, irreverent takedown of the sector’s hype, arguing that fintech often distracts from real solutions while skirting regulation and accountability.
I’m on Chapter II and loving it. The writing cuts through the noise with clarity and wit. It’s a much-needed counter to the endless stream of tech-utopia and cheerleading. Read more
How AI Could Reshape the Economics of the Asset Management Industry
AI, particularly agentic and generative models, can unlock 25–40% cost savings for asset managers and boost top line and risk control. Success hinges on redesigning workflows, upskilling teams, and embedding change across the business. Read more
📁 From Our Archives
Indian VC Survey 2025: Key Findings
This flagship report distils insights from 50+ VCs on where capital is heading, what keeps investors up at night, and why the bar for startups has never been higher. If you want a pulse check on India’s venture mood, this is it…with insights from Karthik Reddy, Anurag Ramdasan, Vignesh Shankar and more.
🌴 Coming Up…
We’ll be publishing A Practical Guide to SEBI’s Cybersecurity & Cyber Resilience Framework (CSCRF) Compliance for AIF CAT 1 and CAT 2 Funds
We’re planning to write a report on benchmarking LLMs for financial research. We require volunteers who’ve done some R&D around this at their firms and are willing to lend us 30 mins for a quick survey. If your answer is yes, kindly respond to this email.