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Sector Thesis·2 min read·Week 30

Institutions Get a Terminal. Retail Gets a Press Release. We're Trying to Close That Gap.

Why capital markets stay inefficient when information isn't symmetric, what AletheiaAI has built to close that gap for retail investors, and an open call for volunteers who can't leave a broken filing alone.

ByAmit Tyagi·Fitoor Capital
Aletheia Insights · Weekly

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The Asymmetry Nobody Talks About

A hedge fund analyst reads a DRHP with a Bloomberg terminal, a research team, and a decade of pattern-matching across thousands of filings behind them. A retail investor reads the same document alone, at 11pm, hoping the three-paragraph news summary didn't miss the part that mattered.

That's not a skill gap. It's an access gap. And it's the biggest reason retail money consistently shows up late to information institutions already priced in.

Efficient Markets Need Symmetric Information. Ours Doesn't Have It.

Efficient market theory rests on a quiet assumption: every participant sees the same information at the same time. In Indian capital markets, that assumption doesn't hold. Institutions pay six and seven figures a year for research desks, data terminals, and analyst access. Retail investors get whatever's free — which usually means whatever's simplified, delayed, or already reflected in the price.

That gap between what institutions know and what retail investors can access — that's the inefficiency we exist to close.

What We've Built So Far

Forensic scans of DRHPs straight from SEBI's own filings, before the press release version shapes the narrative. A thesis engine that grades a company against its own numbers, not a research note's talking points. Verdicts investors can act on, not summaries they have to interpret.

We built this because "just read the filing yourself" isn't real advice for someone with a job, a family, and forty-five minutes a day to spend on investing.

We're Looking for People Who Can't Leave Inefficiency Alone

This is the part we can't do alone. We're looking for people who notice when something in a filing doesn't add up and can't stop pulling the thread — analysts, researchers, engineers, obsessive spreadsheet people, the kind of person who reads footnotes for fun.

If you've ever caught something buried in a prospectus that nobody else flagged, we want to talk to you. This isn't a job posting. It's an invitation to help build the thing that makes markets fairer for people who don't have a terminal.

If that's you — comment below or reach out. Let's go find what's broken.

Amit Tyagi

Founder, AletheiaAI & GP, Fitoor Capital

Veteran of India's startup ecosystem. Writing about fundraising, investor psychology, and what it takes to build fundable startups in India.

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