We don’t disclose fund AUM or the number of partners in the fund to the potential investors. The reasons include:

• Our focus is on delivering good returns rather than growing AUM. If we start disclosing AUM, our focus will turn to growing AUM.
• We want to have the right investors in the fund who are long-term oriented. We don’t want investors to come in the fund because others have invested.
• All investors in the fund do get audited statements for the years in which they are invested in the fund. We are audited by Spicer Jeffries – a well-known auditor of funds.
• Once you become an investor in the fund you will get those audited statements as well. This will provide information on the AUM of the fund but not number of investors.

• Fund only accepts accredited investors.
• An individual is accredited if they meet any of the following:
  • Net worth of >$1 MM or >$1 M with Spouse** excluding primary residence.
  • Individual income > $200K/annum for past 2 years and similar expectations.
  • Joint income with spouse** > $300K/annum for past 2 years and similar expectations.
  • Professional certifications including person with Series 7, Series 65, and Series 82 license.
• An entity (LLC) is accredited if it meets any of the following:
  • LLC with Assets > $5MM.
  • If the equity owners of the entity are accredited, then entity is deemed to be an accredited entity.
  • SEC and state registered investment advisers, exempt reporting advisers and Rural business investment companies (RBIC).
  • “Family offices” with at least $5 million in assets under management and their “family clients,” as each term is defined under the Investment Advisers Act.
  • Entities organized under the laws of foreign countries, that own “investments,” as defined in Rule 2a51-1(b) under the Investment Company Act, in excess of $5 million and that was not formed for the specific purpose of investing in the securities offered.

We have hired well known 3rd parties in the fund management industry? to provide independent reporting.

• Fund Administrator (NAV Consulting): Provides monthly reports.
  1. Wire transfer from the fund bank account is subject to 4 eye check:
• Auditor (Spicer Jeffries): Spicer has been auditing the fund for 3 years (2021 to 2023) with perfectly clean track record.
• Well known Custodians and Accountants in India and the US.
• Fund Manager and Managing Partner, Rajeev Agrawal, is the biggest investor in the fund. We eat our own cooking!

We suggest that you reach out to the fund manager to learn more about the fees & expenses.
Our approach is to make money with our investors. This requires that our investors understand our investment philosophy and our long-term orientation. Having an aligned mindset allows our investors and us to succeed over the long term.

Investors can invest through an IRA account. Once you have determined that the fund is a right fit for you, we can work with you on the same.

Fund follows Value Investing philosophy:

1. Buy with significant Margin of Safety.
2. To increase Return, reduce Risk.
3. Growth is a significant part of value.

Key tenets of our investment approach:

1. Long-term orientation.
2. Management and business quality.
3. Invest where we have a competitive advantage.
4. Stock Market is there to serve you, not guide you.
5. You can’t do a good deal with a bad management: partner only with good people.

Our success is driven by multiple ingredients:

1. Partnering with the “right” investors.
   • No redemption since inception.
2. Well defined Investment philosophy and Investment process.
   • Discipline to stick to our approach.
3. Ignoring the Investment dogma.
4. Investing in lesser picked markets with long runway.
   • Indian equity markets are swayed by many non-fundamental factors.
5. Picking and Sizing positions well.
6. Track record of success.
   • Gives us confidence to stick to our approach.

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