In a recent episode of Behind the Ticker, Kevin Carter, founder of EMQQ Global, shared his journey into investment management and the inspiration behind his suite of emerging market internet ETFs, including INQQ, which focuses on India’s rapidly growing internet sector. With a background that began at Robertson Stephens in 1992 and included pioneering direct indexing and active indexing, Carter’s passion for emerging markets and digital transformation culminated in the creation of EMQQ Global and its targeted ETF offerings.

Carter discussed the investment thesis for INQQ, highlighting India’s unique position as the world’s largest and fastest-growing emerging market. With a population exceeding 1.4 billion, robust demographics, and a booming middle class, India presents unparalleled opportunities for consumption-driven growth. Carter emphasized India’s ongoing infrastructure and technological advancements under Prime Minister Modi, particularly the “India Stack,” a revolutionary digital public infrastructure. The stack has transformed India’s economy by enabling biometric identification, digital payments, and financial inclusion for over 800 million people in just a few years.

INQQ provides investors exposure to the burgeoning internet sector in India, which Carter described as being in its early stages of growth. The ETF focuses on publicly traded Indian internet companies that meet market cap and liquidity thresholds, offering a diversified portfolio across various verticals, including e-commerce, payments, and online travel. Companies like Paytm and MakeMyTrip exemplify the opportunities available as digital adoption accelerates, with many sectors still in the nascent stages of development.

Carter underscored the importance of INQQ as a standalone investment opportunity within emerging markets, appealing to those seeking targeted exposure to India’s digital transformation.