Madhav Bhatkuly Managing Partner at TCI New Horizon Fund, Madhav Bhatkuly went to the London School of Economics. Madhav Bhatkuly served as a Country Partner of Arisaig Partners from 1999 to 2005. Prior to that, Bhatkuly was associated with SG Securities and ICICI Bank Limited. He was a recipient of the Foreign and Commonwealth Scholarship from the British Government. According to him investing is a process of trial and error. With experience and consistently just simply going out and doing the job, you begin to understand some things naturally better than somebody else. He spent most of his early career or the last few years as well, in small cap stocks, where perhaps the market efficiencies were higher and maybe because they were illiquid or for whatever other reasons. He looks at different valuation methods for different businesses.