Rajeev Mantri of Navam Capital presented his in-depth investment thesis on Niyogin Fintech (India: 538772) at Asian Investing Summit 2019.

Thesis summary:

Niyogin Fintech is a digital-first, technology-driven non-banking finance company in India focused on servicing business customers in the micro-, small- and medium-scale enterprise (MSME) sector. This sector has traditionally been credit-deprived and on the fringes of the formal economy. Due to a range of structural changes sweeping India, MSMEs are formalizing, digitizing, and entering the organized economy. As an entrepreneurial, purpose-built venture geared to address the credit needs of this sector, Niyogin is well-placed to be a high-performing lender of choice to MSMEs. The founding team’s deep expertise in financial services and emerging markets as well as a stable shareholder base are among Niyogin’s key strengths. From a recent market capitalization of approximately USD 115 million, and in light of the large market opportunity in front of Niyogin, the business is on track to multiply earnings and increase value manifold in the years to come.

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About the instructor:

Rajeev Mantri is director of private investment firm GPSK Investment Group, and executive director of Navam Capital, an India-focused venture capital firm. Prior to founding Navam Capital, Rajeev worked as a venture capitalist at New York-based Lux Capital, focusing on investments in energy, water and nanomaterials. Rajeev has contributed columns and articles on technology, investing, venture capital and political economy to The Wall Street Journal, Mint, Financial Times, The New York Times, MIT Technology Review, BioSpectrum, Roubini Global Economics and others. In August 2010, Rajeev co-founded Vyome Biosciences, a biopharmaceuticals company, and served as Vyome’s president through the company’s formative years. Rajeev graduated with a BS in materials science and engineering from Northwestern University, and an MBA from Columbia Business School, specializing in private equity and value investing.