A Founder's Reflection from INP Capital If there is one word I would use to describe 2025, it would be # clarification . Not clarity — because 2025 was certainly not a year of certainty. Rather, it was a year of clarification: of priorities, of focus, and of what truly endures over long cycles of time. It was a year that demanded as much restraint as conviction, and as much patience as decisiveness. Navigating a Quiet but Demanding Market Throughout 2025, market uncertainty p