Former Infosys CEO, Nandan Nilekani and Helion Ventures founder Sanjeev Aggarwal have joined forces to launch a new scale up platform – the Fundamentum Partnership. Fundamentum will have an initial corpus of $100 Mn which can be extended to $200 Mn in future.
With this move, Sanjeev Aggarwal will continue to operate Helion Ventures along with the remaining co-founders, while also working on Fundamentum. Whereas, Nandan Nilekani claimed that he will freeze direct investment in startups going forward. All funding from here on out will be made through the Fundamentum Partnership Fund.
Fundamentum aims to invest in consumer technology businesses, particularly ventures that are solving unique Indian problems, according to an official statement. The platform looks to lead investment rounds with a ticket size from $10 Mn to $25 Mn in early to growth-stage startups. The Series B or Series C investments will be done in startups that have achieved PMF (Product Market Fit). Fundamentum also looks to invest capital in enterprise technology and outsourcing companies with global clients.
Commenting on the launch, Nandan Nilekani said, “I have thoroughly enjoyed looking at how Indian entrepreneurs identify original Indian problems and then solve these with the application of technology. India continues to be blessed with phenomenal entrepreneurial talent and the attempt with this platform will be to see how we can amplify their success. At Fundamentum, we are committed to building companies to last, with speed and at scale.”
Both co-founders Nandani Nilekani and Sanjeev Aggarwal will mentor startups without charging a management fee as per an official statement. Fundamentum will also not be apply carried interest from the invested portfolio.
The Fundamentum Partnership team will assist founders in various areas including leadership, organisation development, building a scalable architecture. Nandan Nilekani, Sanjeev Aggarwal and the rest also look to assist founders with understanding capitalisation and inorganic growth, leveraging years of business and investment experience.