In this episode of View from the Top, Ganesh Nayak of Avataar Ventures sits down with Lee Tilghman, Managing Director at The Dietrich Foundation — one of the most respected U.S. endowments investing in global private markets.

With a decade of experience leading manager selection and portfolio strategy across continents, Lee brings a long-term allocator’s lens to emerging markets.

They discuss what conviction-driven investing looks like in practice, how disciplined governance defines successful LPs, and why India is increasingly at the center of global capital conversations.

This conversation goes beyond the typical LP-GP dialogue — exploring how long-term institutions assess risk, patience, and performance in markets that are still evolving.

Lee shares how The Dietrich Foundation approaches manager selection, the qualities that separate enduring partnerships from short-lived ones, and how mentorship, military discipline, and process-driven decision-making have shaped his approach to investing.

Together, Ganesh and Lee dive into:

• How long-term investors balance conviction and patience across illiquid portfolios
• What separates exceptional GPs from the rest — passion, curiosity, and humility
• How allocators like The Dietrich Foundation built conviction in India long before consensus
• Why global LPs now see India as one of the most underpenetrated and promising growth markets
• Lessons from military leadership that apply to investing: initiative, accountability, and ownership
• How governance and partnership dynamics define sustained outperformance
• Why “getting on the plane” remains the ultimate diligence principle for global LPs

Candid, and deeply human, this episode offers an inside look into how one of America’s leading foundations thinks about global capital deployment — from Pittsburgh to Bangalore.

For founders, VCs, and investors alike, Lee’s perspective is a masterclass in long-term thinking, conviction, and how disciplined capital fuels the next generation of global category leaders emerging from India.