Disciplined promoter-led businessescan create substantial long-term value: Getfive’s Shrikant Goyal

In an exclusive interview, the Fund Manager & Co-Founder of Getfive breaks down the contrarian thesis behind his firm's bets, and why Tier II and Tier III India — think Indore, Coimbatore, Surat, Rajkot — is where he's placing his bets 

1. You've built Getfive's entire thesis around a contrarian idea — that India's next multibaggers won't come from the loudest company in the biggest city, but from disciplined entrepreneurs quietly building in Bharat. What convinced you of this?

Over the years, my work has taken me beyond boardrooms into factory floors, industrial clusters, and the offices of promoters across Bharat. These visits have consistently reinforced a simple belief; India has no shortage of capable businesses. What many of them need is patient capital that understands their journey and stays invested through cycles of growth and consolidation.

I still remember visiting a small industrial unit early in my career where the promoter personally walked me through every machine and assembly line with an almost obsessive clarity. On paper, the business looked modest, but the operating discipline was unmistakable.

Years later, that same company had quietly scaled into a much larger enterprise. Encounters like these shaped my conviction that India’s real economic compounding often happens away from attention, driven by founders who prioritize execution over narrative.

Over time, I have met several such promoters quietly building strong businesses, strengthening their foundations year after year, long before they attract wider institutional attention. We partner with disciplined, promoter-led businesses, support their journey through long-term growth investing, and believe that sustainable wealth is created by investing in businesses before the rest of the market recognizes their potential.

1. Walk us through your V3 framework — Vision Through Promoter, Value Through Company, Velocity Through Industry. How does this actually shape which companies you back?

Our V³(V Cube) framework helps us separate temporary growth from sustainable compounding. We begin with the promoter because businesses rarely outperform leadership over long periods. We look for clarity of vision, governance, and capital allocation discipline. Next comes company value, strong financial quality, scalable operations, healthy unit economics, and the ability to generate sustainable cash flows with year-on-year growth potential. Finally, we evaluate industry velocity. We believe businesses benefit massively from structural tailwinds and macro-economic factors. Only when these three elements reinforce one another do we believe a business has the potential to create meaningful long-term value for investors

2. Is there one Fund One portfolio company you'd point to as proof of concept — the kind of "quiet builder" story that validates your approach?

Rather than highlighting a single investment, I believe the stronger validation is the pattern emerging across our portfolio. Many of these businesses have built leadership positions within niche industries while remaining relatively unknown outside their ecosystems. They have demonstrated consistent profitability, improving governance, and the ability to attract institutional capital as they scale. That reflects exactly what we seek; companies focused on execution rather than visibility. For us, success isn't about identifying one standout story; it's about repeatedly identifying disciplined businesses before the broader market recognizes their long-term potential.

3. You're SEBI-registered as a Category I AIF at a time when family offices and HNIs are increasingly looking at this route. What's driving that shift toward Tier II and Tier III India?

India's growth story is genuinely broad-based; it isn't limited to a few sectors or regions but spread widely across the economy. The growth expected in the coming years is inclusive, touching every part of the country and every major sector. Investors today, with growing GDP of India are increasingly looking beyond traditional listed markets to find differentiated growth. A large part of India’s next phase of expansion is coming from businesses in Tier II and Tier III cities such as Indore, Coimbatore, Surat, Rajkot, Ludhiana, Jaipur, Nashik, and Coimbatore, supported by manufacturing growth, infrastructure development, formalization, and wider digital adoption. Many family offices and HNIs are beginning to see that several of these companies reach institutional quality well before they become widely known. A Category I AIF offers a structured and well-governed way to participate in this segment. As information gaps reduce, confidence in these opportunities is gradually increasing.

4. With Fund Two on the horizon, what does "scaling the conviction" look like — bigger bets, new sectors, wider geography, or a sharper version of the same playbook?

Fund I proved the thesis; Fund II is doubling down on it at scale. Fund I have proved our belief that disciplined promoter-led businesses in Bharat can create substantial long-term value. Fund I also taught us that governance quality consistently proved a better predictor of outcomes than headline growth. Fund Two will continue to follow the same core principles while also benefiting from deeper sector expertise, stronger sourcing capabilities and a broader network across India's SME ecosystem. We still remain sector-agnostic, and our focus is on improving the quality of decisions and maintaining investment discipline.

5. What's the biggest misconception investors and entrepreneurs still have about SME-focused investing in India?

One common misconception is that SMEs are high-risk just because they are small. Size alone doesn’t determine risk. Many smaller businesses are actually quite stable, with steady cash flows, disciplined capital use, and strong promoters who understand their business deeply.

At the same time, many SME promoters underestimate what institutional investors are looking for. Growth is important, but it is not enough. Investors today also focus on governance, transparency, and financial discipline.  These factors often decide whether a business can scale sustainably year on year and attract long-term capital.

6. At a time when transparency is a growing ask from HNI and family office investors, how is Getfive — as an MSME-focused AIF platform — ensuring this transparency for its investors?

At Getfive Funds, we believe long term partnerships are built on transparency, and today transparency is an expectation, not a differentiator. Investors want ongoing insight into how their capital is being managed, not just periodic updates.

We have built this into our process, and we are amongst the first ones to do it. Investors get secure, 24/7 access to a dedicated portal to track NAV, monitor portfolio performance, and access key fund information. Alongside this, we focus on disciplined communication, consistent reporting, and a governance-first approach, ensuring clarity and confidence, especially in the AIF space where information is often fragmented.