| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
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| - | - | - |
Better Capital's 2025 annual letter reveals a solo GP managing $100M+ across 240+ companies with a focus on Day 0 high-conviction investing. The firm demonstrated strong conviction validation in vertical quick commerce, Indian ConsumerTech, and Outcome-as-a-Service models powered by AI. Key portfolio successes include Eloelo emerging as a breakout consumer tech company, Stage crossing 7 million paid subscribers, and DPDZero leading AI-driven collections outcomes. However, the firm learned hard lessons about regulatory risk exposure in fintech and prediction markets, and the challenges of market creation in India's capital-constrained environment. Looking ahead to 2026, Better Capital is doubling down on AI-led transformation, backing companies reimagining products with AI-first approaches, and focusing on distribution-first founding teams. The firm continues to emphasize energy transition investments and carbon offset solutions as AI workloads drive exponential energy consumption. Their systematic approach includes refined deal flow through founder networks, deep execution insights, and community-driven knowledge sharing, positioning them for the next wave of AI-driven opportunities.
Better Capital operates as a high-conviction Day 0 investor, applying two decades of startup operating experience where ambiguity is highest and early judgment has the longest half-life, focusing on being first believers rather than permanent drivers as companies scale.
2026 presents a different environment with AI reshaping every layer of the stack. Better Capital is refining how they invest in this next phase, being increasingly mindful of building companies that can attract durable, aligned follow-on capital. They're doubling down on Outcome-as-a-Service, leaning into AI-led transformation, and backing idea-stage teams reimagining products with an AI-first lens.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Dec 27 2025 | 2025 Q4 | - | CashFlow, Governance, long-term, operations, Private | - | Better Capital validates Day 0 conviction across AI-powered outcomes, vertical quick commerce, and Indian ConsumerTech with portfolio breakouts like Eloelo and Stage. Hard lessons on regulatory risk and market creation challenges refined their approach. Doubling down on AI-first transformation and Outcome-as-a-Service for 2026, leveraging systematic founder networks and deep execution insights. |
| Dec 31 2024 | 2024 Q4 | - | - | - | |
| Dec 31 2023 | 2023 Q4 | - | diversification, Dollar, international, small caps, Trade Policy, value | - | Q2 2025 proved diversification's value as international small and value stocks outperformed during a volatile quarter marked by tariff announcements and reversals. The dollar's 11% decline boosted international returns. With ongoing uncertainty around trade, taxes, rates, and AI, the manager reinforces that diversification remains the best defense against unpredictable markets. |
| Dec 31 2022 | 2022 Q4 | - | - | - | |
| Dec 31 2021 | 2021 Q4 | - | - | - | |
| Dec 31 2020 | 2020 Q4 | - | - | - |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2025 Q4 |
AIBetter Capital is doubling down on Outcome-as-a-Service models powered by AI, with portfolio companies like DPDZero, Zoca, and RapidClaims delivering AI-driven outcomes rather than traditional software. The firm is backing idea-stage teams reimagining products with an AI-first lens and believes AI-led transformation will create generational opportunities. |
Artificial Intelligence Outcomes Automation Software Transformation |
Quick CommerceThe firm's 'Quick India Movement' thesis moved from non-obvious to an increasingly active theme, with funding expanding across food, fashion, fresh services, beauty, baby, and health verticals. Portfolio companies Slikk and Plazza are part of this vertical quick commerce focus. |
Delivery Commerce Logistics Consumer India | |
Energy TransitionBetter Capital maintains a strong energy transition portfolio with companies like SolarSquare, BiofuelCircle, Varaha, and Beco. The firm continues to see energy as a space of deep interest and plans to back new teams solving different parts of the energy puzzle. |
Solar Renewable Carbon Sustainability Climate | |
IndiaThe firm leaned into Indian ConsumerTech when it was out of favor, with companies like Eloelo, Stage, Kutumb, and Capslock showing strong performance. Better Capital believes hundreds of millions of users in India will experience AI at scale through apps being conceived now. |
Consumer Technology Market Growth Digital | |
CarbonCarbon offsets and removals are positioned to matter more than ever as AI workloads consume exponentially more energy and climate commitments grow. The firm's conviction is grounded in working with Varaha for scalable offset infrastructure and companies where carbon reduction is a direct business outcome. |
Offsets Removal Climate Credits Environment |
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