Nandan Nilekani and Sanjeev Aggarwal’s VC firm Fundamentum raises $227 mn

Fundamentum Partnership, a homegrown VC fund co-founded by Infosys’ Nandan Nilekani and seasoned entrepreneur Sanjeev Aggarwal, on Friday said it has raised $227 million to launch its second fund to nurture early-growth stage Indian startups.

Fundamentum plans to lead or co-lead a $25-40 million round with investing in four-five startups each year.

“Digital acceleration, brought on by the pandemic, has dramatically increased technology spending across the world. India has all the ingredients in place — capital, entrepreneurs, stories of success, and liquidity,” Nilekani said in a statement.

“In this decade, we will see entrepreneurs making a material impact on the country at scale as the digital intensity of society increases,” he added.