A family of businesses,
held for the long term.

The letter

From the founder

I did not set out to build a holding company. I set out to build businesses, and at some point there were enough of them, doing different enough things, that putting them under one roof was simply the honest way to describe what was going on.

Today that roof is Alpiora: a group of companies, each in its own line of work. They have little in common day to day, and it would be foolish to pretend they should. So we don’t.

Most of the harm done to good businesses is done by owners who cannot stop helping. So the rule here is simple, and mostly about restraint. Each company has its own name, its own people in charge and its own numbers to answer for. The holding does the few things that make sense to do once — the capital, the accounts, the compliance — and nothing else. It does not run the companies. It does not sell one because somebody has offered a good price. When one is working, it gets more capital and less attention.

We measure in years. A business that is right over the long run and wrong this quarter is fine; the reverse is not. That is not a slogan. It is the reason the holding exists: to be the owner who intends to stay, and who can afford to wait.

The group is young and still small, and this page will stay short until there is more worth saying. Each of the companies speaks for itself.

Harshad KumarFounder, Alpiora Global