Research you can act on. Not another headline.
RMVentureX is an independent desk covering Indian and US-listed companies, with a thematic focus on the India–Canada investment corridor. Deep, data-driven analysis built on 25+ years of institutional capital markets experience.
- Coverage
- India + US
- Thematic focus
- The Corridor
- Experience
- 25+ yrs
- Stance
- Contrarian
Three formats. One standard of rigor.
Every note starts from primary data and ends with a position you can size. No maybe-both-ways hedging.
Company Deep-Dives
Line-by-line teardowns of the businesses we cover — unit economics, capital allocation, and the two or three variables that actually move the stock.
Sector Themes
Cross-sectional work that ranks names within a theme, so you know not just what is cheap, but what is cheap for the right reason.
Contrarian Calls
Where our read of the fundamentals diverges from consensus — including the uncomfortable calls to trim, avoid, or wait.
From the desk
A sample of recent published research.
Shopify's take-rate ceiling is higher than the Street models
Payments attach and merchant solutions are re-rating the unit economics. We walk the GMV-to-revenue bridge and argue consensus is under-modelling 2027 gross profit by ~14%.
Jio's ARPU inflection and the retail listing overhang
A sum-of-the-parts that treats the O2C cash engine, Jio's tariff cycle, and the retail IPO optionality as three separately clocked assets — not one conglomerate discount.
Why we're trimming into the consensus melt-up
Not a short — a discipline note. Hyperscaler capex is pulling forward demand faster than the installed base can depreciate. We map the air-pocket quarter the sell-side won't underwrite.
India's credit cycle: the private banks vs. the NBFC squeeze
Deposit competition is quietly repricing the sector. We rank eleven names on the only two variables that matter into FY27 — funding cost and unsecured mix.
The plumbing behind Brookfield's carried-interest flywheel
Fee-related earnings are the durable asset; carry is the call option. We separate the two and stress-test the distribution against a higher-for-longer rate path.
The corridor thesis: pension capital meets Indian growth
Canadian pension funds have quietly become India's largest patient-capital allocators. We trace where the next tranche flows — and the listed proxies positioned to receive it.
The India–Canada investment corridor
It is the through-line of our coverage: capital moving between two markets, and the companies that stand to gain from it. Most desks cover one side. We sit in the middle.
- 01Canadian pension and institutional capital is one of the largest patient allocators into Indian growth assets.
- 02Cross-listed and dual-exposure names sit at the seam of two markets that rarely trade on the same clock.
- 03We map the flow — and the listed proxies positioned to receive the next tranche of it.
Built on the buy-side and the sell-side.
RMVentureX is an independent equity research desk. Independent means our analysis answers to the reader, not to a banking pipeline, a distribution quota, or an issuer relationship.
The desk is built on 25+ years across institutional capital markets — the kind of experience that teaches you the difference between a story stock and a business, and why the two so often trade as if they were the same thing.
We publish for investors who want to understand a position before they take it: the thesis, the risks, the rating, and the reason we could be wrong. Everything is sourced, dated, and stands on its own.
Research priced for people who act on it.
No tiered paywalls on individual notes. Pick a plan, get everything that comes with it.
Research
The full desk, delivered as it publishes. Built for investors who size positions off primary research.
- Every deep-dive, theme, and contrarian call
- Full rating history and conviction changes
- Priority email delivery
- Archive access to past notes
Desk+
For funds and family offices who want direct access alongside the research.
- Everything in Research
- Quarterly 30-minute call with the desk
- Early access, 24 hours before publish
- Direct email line for follow-ups
IntelFox
For funds and family offices who want direct access alongside the research.
- Everything in Research
- Quarterly 30-minute call with the desk
- Early access, 24 hours before publish
- Direct email line for follow-ups
Prices in USD, billed quarterly. Cancel anytime. Nothing here constitutes investment advice.
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