India's space economy stands at an inflection point. The reforms introduced through IN-SPACe and the liberalization of ISRO's commercial arm have fundamentally changed what is possible for private founders in the sector.
The Scale of the Opportunity
India processes over 600 satellite launches worth of market annually, yet captures less than 2% of the global commercial space economy. This gap — between capability and capture — is precisely where our investments are focused.
The country that owns launch infrastructure owns the on-ramp to orbit. India has the engineering talent to own both.
Companies like Skyroot and Agnikul have proven that Indian founders can design, build, and launch rockets from scratch. This was considered impossible five years ago.
What Comes Next
The second wave of India's space economy will be driven by downstream services: earth observation analytics, precision agriculture via satellite, and in-orbit manufacturing. We are actively building positions in all three.
The capital cycle is only beginning. Patient, scientifically-grounded capital — deployed over 7–10 year horizons — will define who wins this sector.