We buy, build, and hold great businesses in India.

Ergatha is a permanent-capital investment firm.

What we look for

We invest in businesses that clear two bars.

First

Companies worth holding for decades: real customers, sound economics, and operators we trust. We take control or significant minority positions, work closely with the people running the company, and stay involved.

Second

Economics strong enough to fund more than their own growth. When a business does well, what it produces can support the place it operates in as well as the people who financed it. We structure our holdings so that surplus keeps working rather than being realised in a sale.

Our first strategy is private equity: established Indian businesses with proven operations and room to grow.

How we work

Because our capital is permanent, we do not work to a fixed fund life. We can hold a business through slow years and back decisions that take time to pay off.
Exits are well strategised and benefit the businesses.

We are a young firm and hold a small number of positions. We are involved in how our companies operate, not only in financing them.

Our edges

Build

We own and run businesses ourselves, currently a sports and entertainment company operating academies, arenas, and clubs in South India.

The operating side

Research

We work through the decisions we face with investors and operators who have made them before, and publish what we learn. Anthology is the first program.

Anthology

Where we are going

India is where we are starting, and private equity is the first strategy. A permanent-capital firm can add strategies as it earns the right to run them, and hold what it builds for as long as that makes sense. We are early in that.