Income-generating.
Venture-backed.
Operator-driven.
A Delaware-based investment manager deploying capital through two distinct vehicles — income-generating commodity and trade working-capital finance (SPV I) and conventional venture capital (SPV II) — grounded in 35+ years of direct operating experience across agricultural markets, the Gulf, and the United States. Two vehicles. One operator.
Operator-led.
Domain-driven.
Every investment thesis at InUSA Capital is built on physical market expertise — the kind that comes from three decades of structuring, negotiating, and executing commodity transactions across multiple continents.
Physical Commodity Roots
35+ years spanning agricultural commodity export, GCC market development, and cross-border trade finance. Every investment thesis emerges from operational experience, not financial engineering.
Institutional Structure
Delaware Series LLC, Reg D 506(b), ERA exemption, Bloomberg TEI registration. Clean separation between vehicles. Built for institutional-grade diligence from day one.
Cross-Border Network
Operating relationships spanning the GCC, South and Southeast Asia, and the United States — enabling deal flow and capital access across markets that most US managers cannot reach.
Clean Separation
Income / trade finance and venture capital are housed in two separate Delaware entities — SPV I (income) and SPV II (venture) — each with independent capital accounts, governance, and reporting. No commingling between mandates.
Two mandates.
One manager.
Each vehicle has a distinct legal structure, investor base, deal type, and return profile — cleanly separated under the InUSA Capital umbrella and available to qualifying accredited investors independently.
Commodity / Trade Working Capital / Income
A Delaware Series LLC running a single income strategy. SPV I deploys capital into short cash-cycle commodity, trade, and working-capital finance — purchase-order financing, accounts-receivable factoring, commodity-backed lending, short-term structured credit, and working-capital facilities — across 30–180 day transaction cycles, targeting recurring current income and capital preservation.
View SPV I DetailsConventional Venture Co-Investment
A Delaware Series LLC for select conventional investors. Series 1 offers single-deal fund-of-one structures — one company, one vehicle, full transparency. Series 2 provides sector-focused co-investments alongside established lead investors in agri-tech, food-tech, and trade finance technology.
View SPV II Details| Feature | SPV I — Commodity / Trade Working Capital / Income | SPV II — Conventional Venture Capital |
|---|---|---|
| Strategy | Short cash-cycle commodity, trade, and working-capital finance | Early-to-growth stage venture equity |
| Structure | PO finance · Factoring · Commodity-backed lending · Structured credit · Working capital | Fund-of-one (Series 1) · Sector co-investment (Series 2) |
| Minimum | $250,000 | $250,000 |
| Term / Cycle | 30–180 day rolling cycles; evergreen with periodic income distributions | 3–7 years (time-matched to each company) |
| Target Return | 10–14% annualized net yield aspirational | Venture return; concentration in winners |
| Preferred Return | 8% p.a., non-compounding | 8% p.a., non-compounding |
| Carry | 20% above preferred | 20% above preferred |
One operator.
Two instruments.
Each doing its proper job.
SPV I and SPV II are independently structured under separate Delaware entities — but the operating thesis ties them together. SPV II portfolio companies access SPV I for short-cycle working capital at trade finance pricing, so equity stays for growth rather than funding receivables.
Equity Funds Working Capital
Standard VC-backed founders use long-duration, dilutive equity to fund 60-day supplier payments. Permanent dilution to solve a temporary cash gap. The wrong instrument at the wrong price.
SPV I Working Capital Access
SPV II portfolio companies access SPV I directly for PO finance, AR factoring, or structured credit — 30–180 day cycles at trade finance pricing. SPV I investors earn yield on the transactions.
Equity Stays for Growth
SPV II equity round remains fully allocated to growth. Founder's cap table protected at every stage. Working capital handled by the correct instrument at the correct price.
Fully operational across
both vehicles.
Both SPV I and SPV II are formed, filed, and accepting subscriptions from accredited investors. The complete compliance and reporting infrastructure is in place — institutional-grade from day one.
Delaware Series LLCs
SPV I and SPV II formed under §18-215 protected series structure. Full liability separation between vehicles and between series within SPV II.
SEC Form D — Rule 506(b)
Form D filed for both vehicles. Regulation D exemption on file with the SEC. Accepting accredited investors only.
Exempt Reporting Adviser
InUSA Capital LLC registered as ERA under the Investment Advisers Act of 1940. Verifiable on SEC EDGAR.
California DFPI Notice
State notice filing on record with the California Department of Financial Protection and Innovation.
Bloomberg TEI
InUSA Capital LLC registered on the Bloomberg Terminal Entity Identifier platform for institutional visibility.
Legal Entity Identifier
LEI issued for global regulatory and counterparty identification. Recognised across major jurisdictions.
Operator-led.
Cross-border
by background.
InUSA Capital is managed by Ram N Ramachandran, whose investment thesis is built directly on three decades of physical commodity trading, GCC market operations, and cross-border business development — in the same sectors the fund now invests in.
"I have been on both sides of these trades for 35 years. The diligence advantage comes from having physically operated in the sectors we now invest in."
Ram N Ramachandran — Managing Member
- 35+ year career spanning Unilever India, PepsiCo / Frito-Lay GCC regional leadership, and agricultural commodity trading since 2005
- Physically traded agricultural commodities, base metals, and energy across the GCC, India, Africa, Australia, Vietnam, and the US as a principal — not an advisor
- Experience structuring cross-border investment vehicles, SPVs, and trade finance facilities across multiple jurisdictions
- Operating companies in UAE and India; direct counterparty relationships with GCC trading houses, commodity brokers, and physical market participants
- Bloomberg TEI-registered · ERA-compliant · Delaware Series LLC formation experience
A clear path for
qualified investors.
Both vehicles are open for subscription. Admission is relationship-driven and non-publicly solicited under Rule 506(b). All subscription documentation is ready.
Initial Meeting
Confidential discussion — investment objectives, vehicle preference, and term structure. No commitment required.
Documents
Receive the Master OA, Series Designation, and Subscription Agreement for the applicable vehicle.
KYC / AML
Submit ID, entity documents, beneficial ownership certification, source of funds, and W-9 or W-8BEN-E.
Subscription
Execute documents, certify accredited investor status, elect vehicle, fund commitment via wire.
Admission
Capital account established, percentage interest confirmed, quarterly reporting begins immediately.
Ram N Ramachandran
Managing Member, InUSA Capital LLC
Both vehicles are illiquid, private investment structures. Membership interests have no secondary market. SPV I (income / trade finance) and SPV II (venture capital) carry distinct risk profiles. Investors should only participate if they can sustain an illiquid commitment for the applicable vehicle term and understand counterparty, commodity, liquidity, venture, and regulatory risks.