Rishika Chandan

After a fabulous two years at Kae Capital, I knew it was time to build the fund I wished had existed when I was a founder. Today, I’m launching Boundless Ventures, an early-stage, AI-native venture firm backing India-rooted founders who are building globally defensible companies at the intersection of science, systems, and culture. Boundless starts with a simple belief: the next decade’s breakout companies won’t “add AI” as a feature. They’ll be AI-native from day one, rethinking consumer products, enterprise workflows, and infrastructure with new primitives. We’ll write the first cheque ($200–400K), and then double down. We’ve proud to have already partnered with six category-shaping founding teams: • Superhealth: rethinking healthcare from the ground up • Armatrix: autonomous snake-arm robots for engine inspection • PierSight: real-time ocean intelligence • KNOT: AI-native fashion discovery and logistics • Two stealth companies in infra and consumer AI Our thesis spans four arenas: • The AI-native stack: infra, agents, and memory protocols • Make-in-India hardware: autonomous systems, design-led manufacturing • New-India consumer: culture × code • Science × story: where deep tech meets narrative leverage India is not catching up. It’s compounding. Boundless exists to back originals, with speed, belief and storytelling firepower. Link to our website & thesis below.

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Most poeple don’t get Boba Bhai right. But, as an investor via Titan Capital Winners Fund, I’ve had the fortune to see this story play out very closely. It is not just winning the bubble tea market in India - It is creating it. - Before their explosive entry, the category was a fragmented, niche curiosity-a handful of scattered outlets with no cohesive market identity - And Boba Bhai’s strategic execution is a live case study in transforming a fringe trend into a dominant, mainstream consumer category Their first move was to define the product for the Indian masses. By fusing Korean formats with Indian flavours, they created an accessible, craveable version of bubble tea and street food that could achieve broad appeal, moving it out of the niche corners of K-culture enthusiasts. Next, they built the physical infrastructure for the category at an unprecedented speed. Scaling to over 70 outlets, they are single-handedly putting bubble tea on the map in cities across the country, building the distribution network that is making the drink a household name. But their most visionary move in category creation is happening right now, in the digital aisle. The launch of Ready-to-Drink (RTD) canned bubble tea on quick commerce platforms like Blinkit and Zepto is another big bet. Effectively, they are not just entering a new channel - they are creating an entirely new FMCG category from scratch - packaged bubble tea. This allows them to own the "at-home" occasion, building brand salience far beyond their physical footprint. And this is very inspiring, because this is how categories are built. A single brand becomes so dominant in the consumer's mind that it becomes synonymous with the product itself. Think Xerox for photocopying or Maggi for instant noodles. With a stated goal to make K-Pop culture mainstream in India across food, drink and more, Boba Bhai, and its amazing founder, my friend Dhruv (in pic), are not shy about their ambitions. - And having read this whole thing, I am sure you would now get that they are not aiming to be a player in the bubble tea space - They are building the entire stadium and positioning themselves as the home team And that’s why I always say with pride and confidence, that Boba Bhai isn't just another QSR. What do you think? ---- I've begun to share my learnings from the world of startups more frequently to gain wider perspective. Thus, if you hold any additions or differences to the thoughts I shared above, do share in the comments. That will help widen my thinking horizons. Thanks! Best, Shiv

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🚨 RBI’s New Co-Lending Directions, 2025 – Effective Jan 1, 2026 The Reserve Bank of India (RBI) has issued new Co-Lending Arrangements Directions, 2025, which will come into effect on January 1, 2026. These guidelines will likely broaden the scope of co-lending 1️⃣ Mandatory Skin in the Game – Each Regulated Entity (RE) must retain minimum 10% of every loan (no shadow partnerships) 2️⃣ Blended Interest Rate – Final rate to borrower = weighted average of each lender’s rate. All fees to be factored into APR & Key Facts Statement 3️⃣ 15-Day Transfer Rule – Partner RE must book its share within 15 days of disbursement. Else, loan stays with originator 4️⃣ Default Loss Guarantee Cap – Max 5% of outstanding loans allowed 5️⃣ Borrower-Level Asset Classification – If one lender marks SMA/NPA, the other must follow 6️⃣ Escrow Account Mandate – All transactions to flow through an escrow, ensuring clear fund appropriation 7️⃣ Full Disclosure – Public list of co-lending partners + detailed reporting in financials Bottom line: Clearer rules, stronger consumer protection, tighter operational discipline >> co-lending just got a lot more transparent. #RBI #CoLending #NBFC #Fintech #Credit https://lnkd.in/gKxrz_hC

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