View from the Top — by Avataar Venture Partners

EP4: How Asia Private Markets Operate & India’s Evolution with Chris Loh, of Axiom Asia

In this episode of View From The Top, Ganesh Nayak sits down with Chris Loh, Managing Partner at Axiom Asia [https://axiomasia.com/] — one of Asia's leading private equity fund-of-funds investors. Chris brings a rare vantage point. He started as an electronics engineer in Japan, moved into Silicon Valley venture investing with GIC during the dot-com years, and joined Axiom in 2009 as the venture capital boom was taking off in China. From that seat, he has watched three full cycles play out across China, Japan, Korea, and India — and seen what made each one move. Together, Ganesh and Chris explore why India today resembles where China stood in the early 2000s, how Japan's buyout-led ecosystem is now growing a venture layer on top, and why exit pathways are the single most important variable LPs underestimate when they enter Asia. A recurring thread runs through the conversation: home-market biases do not travel well. LPs from the US and Europe often arrive in Asia looking only at buyouts because that is what worked at home. Chris argues that the firms who succeed in Asia are the ones willing to let go of those defaults and read each market on its own terms. In this episode: * How venture capital travelled from Silicon Valley to China, and then to the rest of Asia * Why India's 2021 IPO ecosystem was the moment that finally unlocked exits for early backers * What separates China, Japan, Korea, and India in their private market cycles today * How Axiom evaluates GPs across primary, secondary, and co-investment strategies * Why team dynamics matter more than individual brilliance when picking venture managers * The home biases that hold global LPs back when they first deploy into Asia * How secondary markets in Asia moved from second-choice exit to a credible liquidity path This is a first-hand account of how Asia's private capital markets actually work — and where the real opportunity lies for the next decade of global allocators. 🎧 New episodes every two weeks. Subscribe to never miss an episode.

EP3: Investing Through Cycles & India’s Growth Story with Kevin Edwards of CMU

In this episode of View From The Top, Ganesh Nayak [https://www.linkedin.com/in/nayakganesh/], Head of Global Capital and Fundraising at Avataar Ventures [https://www.avataar.vc/?utm_source=Buzzsprout&utm_medium=podcast&utm_campaign=vftkevinepisode], speaks with Kevin Edwards [https://www.linkedin.com/in/kevin-edwards-cfa-665ab414/], Managing Director of Investments at Carnegie Mellon University [https://www.cmu.edu/investment-office/]. CMU's multi-billion-dollar endowment invests across global private and public markets. Kevin shares insights from decades of managing institutional portfolios, reflecting on lessons from the Great Financial Crisis, how liquidity truly works, and what allocators look for in long-term partnerships. Together, they explore: * How India became one of the world’s most investable growth stories * The evolution of its digital infrastructure and capital markets * Why entrepreneurial energy and regulatory reform make India unique among emerging economies * What global allocators want from Indian GPs raising capital abroad * How universities and endowments balance preservation with growth * Why discipline, risk-awareness, and humility are timeless investor traits Kevin also offers a rare inside look into how large institutional investors evaluate conviction, liquidity, alignment and what “boots-on-the-ground” investing really means in markets like India. 🎧 Watch or listen on YouTube, Spotify, and Apple Podcasts. Subscribe for new episodes every two weeks.

EP2: Conviction-Driven Investing & India’s Growth Decade with Lee Tilghman of The Dietrich Foundation

In this episode of View from the Top, Ganesh Nayak [https://www.linkedin.com/in/nayakganesh/], Head of Global Capital and Fundraising at Avataar Ventures [https://www.avataar.vc/?utm_source=Buzzsprout&utm_medium=podcast&utm_campaign=vftkevinepisode] sits down with Lee Tilghman [https://www.linkedin.com/in/lee-tilghman-9a8b4a21/], Managing Director at The Dietrich Foundation [https://dietrichfoundation.net/] — one of the most respected U.S. foundations investing substantially in VC and PE. With over 15 years of experience leading manager selection and portfolio strategy across continents, Lee brings a long-term allocator’s lens to investment.  They discuss what conviction-driven investing looks like in practice, and how India is being places in global capital conversations. This conversation goes beyond the typical LP-GP dialogue — exploring how long-term institutions assess risk, patience, and performance in markets that are still evolving.  Lee shares how The Dietrich Foundation approaches manager selection, the qualities that separate enduring partnerships from short-lived ones, and how mentorship, military discipline, and process-driven decision-making have shaped his approach to investing. Together, Ganesh and Lee dive into: * How long-term investors balance conviction and patience across illiquid portfolios * What separates exceptional GPs from the rest — passion, curiosity, and humility * How allocators like The Dietrich Foundation built conviction in India long before consensus * Lessons from military leadership that apply to investing: initiative, accountability, and ownership * Why “getting on the plane” remains a time-tested diligence principle for global LPs Candid, and deeply human, this episode offers an inside look into how one of America’s leading foundations thinks about global capital deployment — from Pittsburgh to Bangalore. For founders, VCs, and investors alike, Lee’s perspective is a masterclass in long-term thinking, conviction, and how disciplined capital fuels the next generation of global category leaders emerging from India.

EP1: Emerging Markets & India’s IPO Decade with Amit Chandra of 57 Stars

In this episode of View From The Top,  Ganesh Nayak [https://www.linkedin.com/in/nayakganesh/], Head of Global Capital and Fundraising at Avataar Ventures [https://www.avataar.vc/?utm_source=Buzzsprout&utm_medium=podcast&utm_campaign=vftkevinepisode] sits down with Amit Chandra [https://www.linkedin.com/in/amitchandra1/], managing director of 57 Stars [https://www.57stars.com/about-us/] — an independent global asset manager. With deep experience across emerging markets, they unpack the forces shaping India’s rise as one of the world’s most efficient capital markets. This wide-ranging conversation explores why India is increasingly viewed as a preferred destination for global investors, how regulatory discipline and governance have evolved over the last decade, and what separates India’s growth trajectory from other emerging economies.  Amit also challenges some long-held assumptions about emerging markets. He offers a balanced and evidence-based perspective on what has changed, what remains misunderstood, and where global investors need to update their mental models. Together, Ganesh and Amit dive into: * Why India is becoming one of the most attractive IPO hotspots globally * The evolution of India’s regulatory and tax environment — and how it directly impacts investment outcomes * How ESG and governance are reshaping capital allocation decisions * What drives India’s consumer markets to outperform — and why certain segments still underdeliver * How LBO-style financial engineering sharpens returns in emerging markets * Which outdated notions about emerging capital markets no longer hold true * Why India increasingly stands out as one of the most efficient long-term capital bets Grounded, clear, and rich in practical insight, this episode offers a rare macro-to-micro view on India’s ascent from regulatory depth to consumer behavior, while correcting the misconceptions that often cloud global understanding of emerging markets. Whether you’re a founder, investor, or operator, Amit’s perspective provides a sharp, evidence-based understanding of India’s position in the global economy and the structural strengths driving its next decade.