EP2: Conviction-Driven Investing & India’s Growth Decade with Lee Tilghman of The Dietrich Foundation

In this episode of View from the Top, Ganesh Nayak, Head of Global Capital and Fundraising at Avataar Ventures sits down with Lee Tilghman, Managing Director at The Dietrich Foundation — one of the most respected U.S. foundations investing substantially in VC and PE.With over 15 years of experience leading manager selection and portfolio strategy across continents, Lee brings a long-term allocator’s lens to investment. They discuss what conviction-driven investing looks like in practice, and how India is being places in 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 portfoliosWhat separates exceptional GPs from the rest — passion, curiosity, and humilityHow allocators like The Dietrich Foundation built conviction in India long before consensusLessons from military leadership that apply to investing: initiative, accountability, and ownershipWhy “getting on the plane” remains a time-tested diligence principle for global LPsCandid, 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.