A new fund named Fundamentum is commenced by Nandan Nilekani, Infosys co-founder and Helion Ventures co-founder Sanjeev Aggarwal.
This initiation of the fund aims to achieve the goal of helping startups grow at their full potential and this fund will exclusively form for technology based businesses that are focused on solving problems present in India.
Fundamentum initiates with a $100 billion corpus and will plan to start investment rounds that will invest $10-25 million in trending businesses looking to expand their operations. These investment rounds will either be series B or series C funding rounds.
While India has earned recognition as a start-up nation, it is as yet an unproven scale-up nation, and with Fundamentum, we want to help build a much needed scale-up ecosystem in the country, said Sanjeev Aggarwal.
Nilekani and Aggarwal are not like other investors and they have decided to launch the fund without any interest or management fee. Even with this exclusive offer they also plan to assist startup founders in key areas of leadership, strategy planning, create a viable technology structure, and navigating inflection points.
Nilekani investor is more focused towards investing in startups. Major start-ups that may raise funds via Fundamentum are ShopX, RailYatri, LetsVenture, 4TiGO, SEDEMAC and Power2SME.