In recent literature, it has been argued that a mild form of the Weak Gravity
Conjecture (WGC) is satisfied by wide classes of effective field theories in
which higher-derivative corrections can be shown to shift the charge-to-mass
ratios of extremal black holes to larger values. However, this mild form does
not directly constrain low-energy physics because the black holes satisfying
the WGC have masses above the cutoff of the effective theory. In this note, we
point out that in string theory modular invariance can connect a light
superextremal state to heavy superextremal states; the latter collapse into
black holes at small string coupling. In the context of heterotic string
theory, we show that these states are black holes that have α′-exact
charge-to-mass ratios exceeding the classical extremality bound. This suggests
that modular invariance of the string partition function can be used to relate
the existence of a light superextremal particle to the positive shift in
charge-to-mass ratio of extremal black holes.Comment: 20 pages, 2 figures. v2: added references, matches published version.
v3: updated footnote