Nandan Nilekani’s Fundamentum raises $227 million in second fund

Fundamentum, the venture capital (VC) firm led by Nandan Nilekani, the co-founder of Infosys and architect of Aadhaar, has raised $227 million in its second fund. The money would be invested in early growth-stage Indian start-ups.

Fundamentum plans to fund enterprises that have attained product-market fit and developed momentum in their scale-up journey.

Fundamentum plans to lead or co-lead a $25-40 million round, investing in four-five start-ups each year. It will focus on tech-driven enterprises in the consumer internet and enterprise software space in India.

The firm will back India-based entrepreneurs, who are set to move from the start-up stage to the scale-up phase.