Nandan Nilekani and Sanjeev Aggarwal launch ₹2,200cr Fundamentum Fund III
Infosys co-founder Nandan Nilekani and Sanjeev Aggarwal just rolled out Fundamentum Fund III, a new ₹2,200 crore fund aimed at backing India's next wave of tech startups.
This fund is all about supporting companies in consumer tech, fintech, and AI, with the goal of helping them scale up after they've found their footing.
Fund III to write $10 million cheques
Fundamentum Fund III plans to typically write first cheques of about $10 million and invest $15 million on average each in 11 promising startups and has set aside 40% of its funds for follow-up investments.
There's also a leadership update: Ashish Kumar will now head Fundamentum Frontier Advisors (F2A), which is focusing on AI and deeptech with a separate ₹3,000 crore pool.
Past funds have already backed big names like Spinny and PharmEasy, so the team is keen to keep spotting and supporting the next big innovators in India's startup scene.