For nine episodes, CVCism happened in a boardroom. This one happened on a factory floor.

Sriharsha Bandaluppi and Shashvat Somany take Vishnu Jayachandran, CEO of Crion Technologies and part of the SIG Tattva portfolio, through Truflo by Hindware — past the extrusion lines, the injection moulding machines, the control room and the tool room — and ask him, at each stop, what a digital twin would actually do there.

Vishnu didn't come from software. He came from oil and gas, where the equipment in front of him gave him nothing he could use, and where getting one decision made meant walking between four departments. Crion grew out of that frustration.

The conversation covers what separates a real digital twin from a 3D model or a dashboard; the two-hour mould changeover and the "golden batch" that could halve it; why data quality decides whether any of it works; what automation can and cannot do, however sophisticated your SCADA; the 10–15 seconds an operator gets to act on an alarm before silencing it; and why the technology isn't the expensive part — the implementation is.

It closes on something Vishnu says about working with a corporate investor: access to a real plant is worth more than the cheque. Chapters 2:15 Why this episode is inside a factory 7:15 From the oil-and-gas shop floor to Crion 10:40 What a digital twin actually is 19:00 Why Tattva invested 24:50 Job change, golden batch and the data behind it 33:16 The control room: what automation can't do 41:00 The tool room and the twin, live 46:34 Cost, partnerships and what comes next

Guest: Vishnuvardhan Jayachandran, CEO, Crion Technologies

Hosts: Sriharsha Bandaluppi and Shashvat Somany

Recorded at Truflo by Hindware.

What happens when someone actually reads the fine print of India's biggest consumer IPO filing?

Jayant Mundhra has built his reputation doing exactly that. In Episode 9 of सीVCism, he joins hosts Sriharsha Bandaluppi and Shashvat Somany for a conversation that starts with Zepto's DRHP and ends with the case for patient capital in India.

The Zepto section is the sharp end of it. Roughly ₹22,600 crore of revenue against losses in the ₹5,000 crore range — and average order value, arguably the metric that decides whether the business works, mentioned just twice in the whole document. Jayant explains why the top line can't be taken at face value, what his own conversations with sellers revealed about the advertising engine beneath the platform, and the question that anchors his whole analysis: if a company is going public, is it really a good company for the public?

Then the conversation opens outward. Whether quick commerce survives the move into vertical categories like steel and construction materials, and why those margins demand a different model altogether. Why a Chinese business will build at 6% return on equity while an Indian one holds out for 16 to 20, and what that gap means for who takes the first risk. Where the PLI scheme excludes the very companies it should be backing, what genuinely works when the government shares risk instead of picking winners, and how clusters from Yiwu to Tirupur to Morbi build advantages that policy can't manufacture on its own.

It ends on corporate venture capital: why the pairing of an anchor customer and an anchor supporter can be a match made in heaven, and how ecosystem investing turned three of Xiaomi's bets into $5 billion companies.

For SIG Tattva, that's the thesis in one line — strategic capital, not tourist capital. Deeply integrated, genuinely patient, and built to help companies grow inside real businesses.

Chapters:

02:58 - Introductions

04:00 - Who is Jayant Mundhra?

13:34 - The Zepto question: top line, losses & the DRHP

18:22 - Channel checks, the ad-credit scheme & the valuation slide

23:51 - Is it a good company for the public? Runway, unit economics & FY29

27:15 - Sustainability, track record & the missing global parallel

31:50 - Quick commerce goes vertical — construction materials & thin margins

38:22 - Macro: how governments help ecosystems thrive

41:22 - Risk-sharing that works — and where policy breaks

51:07 - Ecosystem clusters & the branding gap

58:18 - CVCs in India: the case for patient capital

Hosted by Team Tattva — because at Tattva, the pilot is the product.

What does it take to find alpha in the markets everyone else writes off?

Most investors compete for the same deals in the same few geographies. Varun Rekhi built his career doing the opposite — investing across the emerging economies of the Middle East, Africa, Southeast Asia and Latin America, where returns supposedly don't exist and where reading the context is the whole game. In Episode 8 of CVCism, he joins hosts Shashvat Somany and Sriharsha Bandaluppi for a wide-ranging conversation on how the world's overlooked markets actually work — and what that teaches you about investing anywhere.

From Delhi to New York, Singapore and London, Varun's journey shaped a simple conviction: the edge in venture isn't a better model, it's seeing what others miss. The three of them trace that idea across fintech, crypto, AI and the mechanics of the asset class itself.

The conversation runs from why public fintech rails can become an "inheritance trap" for the founders who build on them, into how stablecoins are rewiring cross-border money and why that shift has been slower to reach India. It moves through the "broken flywheel" that stalls venture when real exits don't come, what India genuinely got right — starting with its diaspora — and the difference between Bitcoin as an asset and Bitcoin as infrastructure. From there it turns to where the next edge is forming in AI and frontier technology, from compute bottlenecks to photonics, before closing on an honest exchange about what it really means to have a corporate VC on your cap table: when it adds value, and when it doesn't.

For SIG Tattva, it all comes back to one idea: we invest as strategic capital, not tourist capital — with the conviction to back what the crowd overlooks, and the integration to help those companies scale inside real businesses. Varun's instinct for finding value where no one else is looking is the same discipline that drives how we build.

Chapters:

0:00 - Introductions

3:06 - Delhi to Emerging Markets: Varun's journey

5:58 - Finding Alpha & Recalibrating Across Markets

8:43 - Fintech, UPI rails & the "Inheritance Trap"

16:08 - The Stablecoins Sandwich

21:00 - IPOs, liquidity & the Underrated Founder

24:20 - Building Acquirable Businesses

28:06 - Closed rooms & the "quiet middle"

32:14 - Reading founders: the 2-2-2 rule

37:26 - The Broken Flywheel: the "tap," exits & LPs

41:37 - What India Got Right

44:20 - Bitcoin: Asset vs. Infrastructure

47:12 - AI, tokens & frontier tech

50:11 - Reading a CVC on the cap table

51:59 - What makes a great CVC

Hosted by Shashvat Somany and Sriharsha Bandaluppi.

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