Happy New Year to all!

2020 was a peculiar year. It gave us hardships but also taught many things. It showed us how fragile our lives can be and at the same time how resilient we as a civilization are.

2020 was a roller-coaster ride for me, both personally and professionally. The highs were higher, and the lows were lower. And I believe, the world did change a bit more this year than any of the other years in this decade.

<<Read our Year in Review for 2018 and 2019>>


We at Gemba Capital met Abhishek and Saurabh at our office on 9th October 2019. It was a long meeting, but one of those where you appreciate the clarity of thought, the founders had on Day 0. First step to get such clarity of thought is when you clearly identify and define the problem statement, which they had.

In terms of the market size, growth and timing, it was in-line with our internal thesis on the Insurtech space in India. We felt it is one of the least disrupted sectors in India where incumbents are lagging behind in terms of…


How do you find Founder Market Fit (FMF)? Why is it important? Can we build a framework around it? Let’s dig deeper.

Sourced from pxhere

Founder-market fit is an innate, unfair advantage that sets founders apart from their competitors.

There have been many blogs written on FMF and each have opposing viewpoints. I thought to myself, does the world need one more blog on FMF? Isn’t FMF overestimated? As an early stage investor, I am always grappling with FMF. Always trying to assess whether “Are these the right founders for this business?” And I never get an easy answer, more so I do not even know whether I have the right answer. So in such situations, the process to assess FMF becomes important. But can…


My reflections on how Edtech will evolve in India and how we need a fundamental shift to look at education from a “skills” perspective.

“The problem is not people being uneducated. The problem is that people are educated just enough to believe what they have been taught, and not educated enough to question anything from what they have been taught.”

— Richard Feynman

A lot has been written about Edtech in India, especially in the last 4 months post Covid-19. It is the ‘hot space’ where VCs are looking to back exciting startups and capable founders.

Traditional education institutions like…


Source: Flickr © Larry Bray

Every entrepreneur has a story to tell, but how you tell that story is equally important. The art of storytelling has become a must-have skill for any entrepreneur to retain the attention of the listener, more so in today’s world where attention spans are shrinking.

As an entrepreneur, you have so many stories to tell. About building your MVP, getting your first customers, raising your first round of financing etc. Weaving stories from past experiences helps an entrepreneur in raising funds, engaging customers, hiring leaders and setting the right work culture across the organisation.

Stories drive Sales


Happy New Year to all!

One word to best describe 2019 for us was ‘Growth

We grew as we added more founders in 2019 to our family. We moved our HQ from Mumbai to Bangalore. We felt it is best to be based where all the action. We sourced more deals, met more founders, drank more coffee :) We led two deals in 2019. To read about how our 2018 was, please click here.

Portfolio as on Dec 2019 By the Numbers -

# of investments closed: 13 (54% Bangalore, 23% NCR and 23% Others)

# of founders: 30 (50%…


This is the final part in the series of blogs about mental models from the field of psychology which impacts an investor and how to be aware of it while making investing decisions. Click here to read Part I and click here to read Part II

Source: Marbella

In continuation of our previous blog, let me introduce you to 5 new mental models in psychology which are very important for every investor to understand.

11. Gambler’s Fallacy


This is part II in the series of blogs about mental models from the field of psychology which impacts an investor and how to be aware of it while making investing decisions. Click here to read Part I

Source: CorwinConnect

In continuation of our previous blog, let me introduce you to 5 new mental models in psychology which are very important for every investor to understand.

6. Pavlovian Conditioning


In this series of blogs, I talk about the various mental models from the field of psychology which impacts an investor and how to be aware of it while making investing decisions.

Photo by Denys Nevozhai on Unsplash

What’s a mental model?

Simply put, a mental model is a way a person thinks which constructs one’s world view and the way one interacts with the outside world. These models shape our actions as to how we act or behave in a particular situation.

Why should we know mental models?

Only if we are aware of the mental models, we can better understand the world around us…


Part II — Laying a Foundation

Happy New Year to all! This blog is in continuation of Part I of our ‘Year in Review’ blog. To read Part I which focuses on our current portfolio please click here.

We started Gemba Capital in August 2017 as a family office to make early stage investments. The transition to a micro VC Fund now makes sense looking at the strong foundation we have laid in the past 18 months.

We now have a strong advisory board with experts guiding us on specific deals which fall in their domain.

We have deep relationships with accelerators, incubators, intermediaries, co-investors, family…

Adith Podhar

Entrepreneur First | Founder - Gemba Capital | Early stage Investor | Ex PE | Amateur Photographer | Foodie | Traveler |

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