Sandeep Farias pioneered the entrepreneurial households thesis at Elevar Equity, focusing on backing over 40-50 million micro-entrepreneurial families in underserved emerging markets rather than just low-income consumers generally. He developed the Low ARPU, High Wallet Share investing framework, targeting companies that serve customers with low average revenue per user but capture a large, recurring share of household spending through essential products and services. Sandeep Farias pioneered the entrepreneurial households thesis at Elevar Equity, focusing on backing over 40-50 million micro-entrepreneurial families in underserved emerging markets rather than just low-income consumers generally. He developed the Low ARPU, High Wallet Share investing framework, targeting companies that serve customers with low average revenue per user but capture a large, recurring share of household spending through essential products and services.