We invest in highly scalable, early-stage, curated opportunities and are extremely selective with our deals. We are present in both AL India & and AL US (for international opportunities as well as Indian Startups that have their holding companies abroad).

We have a vision to build a founder-friendly network and we are extremely quick with our discussions and analysis and offer quick feedback and commitments if interested.

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Our Investment Criteria are as follows:

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1. Early Stage Startups with indicators pointing towards PMF: We only invest in post-revenue startups where KPIs such as customer retention point to early signs of PMF being established in industries with large TAMs.

2. Sector Agnostic: We believe that good opportunities can come from anywhere and do not limit our investments by sector. However, we consult industry veterans before taking a final call for shortlisted opportunities.

3. Invest alongside quality Co-Investors: We believe that VCs play a substantial role in providing guidance and resources to startups as part of their growth journey. Therefore, we select opportunities being backed by other marquee funds that lead the round. We never lead the round.

4. Protection of Interests: We only back startups if they assure us transparency with Information Rights and other rights such as pre-emptive rights, tag-along rights, etc. We do not compromise on them and also share monthly updates with all LPs about their investments.

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We do not aim to be prolific but allocate capital extremely judiciously to offer the best return to our investors. Investments in startups are quite risky but we aim to mitigate those risks.

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We also have a deal advisory arm that helps larger startups raise money (gives us a better understanding of the VC ecosystem and improves deal flow). The sister business also helps our portfolio companies with their up rounds (only if the board requests).

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FUND CHARTER​​

 

1. Investing Overview

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Name: Tremis Capital
Est Year: 2024
Target Deployment Size: $8-12 million USD
Target Term: 7 years, with two 1-year extensions at the General Partner's (GP) discretion
Management: Managed by Tremis Capital GPs
Geographic Focus: Primarily India (Bengaluru, Mumbai, Delhi-NCR) & US (Silicon Valley, New York, Austin) tech ecosystems, emphasizing on sectors like AI, fintech, SaaS, healthtech, and deeptech.

The Fund will deploy capital into 50 startups, prioritizing scalable tech ventures with strong founding teams, product-market fit potential, and defensible IP.

 

2. Investment Strategy

• Stage: Early-stage (pre-seed to Series A), with average check sizes of $70,000-$250,000 USD.

• Deal Sourcing: Through proprietary VC relationships, referrals (postco founders & network), angel syndicates, and direct founder outreach.

• Investment Criteria:

  • Revenue traction or clear signs of PMF (e.g. $500k ARR with 10 B2B customers).

  • Founders with solid references & drive

  • Minimum 10-12x return potential.

 

3. Investor Protections

LPs shall receive:

• Preferred Return

• Information Rights: Quarterly reports, Monthly MIS in most cases, annual audited financials on portcos and access to co-investment opportunities.

• Operating Expense at 0: No ongoing expense on committed capital. 100% capital deployed

 

4. Rights in Portfolio Investments

All investments shall be structured as priced equity rounds (SAFE or convertible notes only in exceptional cases), no ownership is targeted as such. 

Rights:

• Liquidation Preference: 1x non-participating preferred return on invested capital before common shareholders (wherever possible)

• Participation Rights & RoFR: Pro-rata rights (wherever possible)

• Anti-Dilution: Broad-based weighted average protection for down rounds (non negotiable)

• Information Rights: Monthly financials, quarterly board updates, annual audits Non-cumulative, only after Series A or as declared (wherever possible)

• Board Seat or Observer rights not sought in any portco

• Drag-Along: 50% qualified investor approval (wherever possible)

• Tag-Along: Pro-rata participation in any shareholder sale (non negotiable)

• ROFR/ROFO: Right of first refusal/offer on share transfers (wherever possible)

• Exit Timings: 5 years (from the day of transfers, wherever possible)

• Reps & Warranties: Standard founder and company indemnities (non negotiable)

• Jurisdiction-Specific: US deals under Delaware law; India deals with RBI/FEMA compliance (non negotiable) 

 

5. Risk Factors and Disclaimers

Investing in early-stage tech involves high risk of total loss. The Fund targets 3-5x net returns but expects 70% of investments to fail. LPs should review the full LPA and consult advisors. This charter is non-binding until LP commitments.