H Squared Management

The firm focuses on seed and Series A rounds, occasionally participating in later-stage insider rounds for existing portfolio companies. Agarwal prefers being among the first institutional checks into technical founding teams, often alongside top-tier venture funds but never through fund-of-funds commitments.

Agarwal sources primarily through direct founder relationships, his network from prior finance roles, and co-investor syndicates with other single-family offices. The firm does not market itself to startups or maintain a public application portal. Deal flow is curated, not inbound.

The firm stays away from capital-intensive physical infrastructure, real estate, and consumer packaged goods. While portfolio tags include climate technology, Agarwal has stated a preference for software and data-layer plays rather than hardware or heavy manufacturing in the energy transition space.

Agarwal co-invests frequently, taking direct equity stakes in rounds led by established venture firms. He does not commit to blind-pool funds. This lets him pick specific companies based on technical thesis alignment rather than delegating selection to a GP.