The cofounder of Infosys Nandan Nilekani and Helion Venture’s Sanjeev Aggarwal have jointly launched an investment fund known as Fundamentum, with the funding of ₹650 Crore ($100 million) to promote startups looking for capital to grow.
Speaking on the development, Nilekani said that he would will stop making fresh personal investments in startups from now. However, he’ll continue to support the startups in which, he has already invested. According to Nilekani, “I have been doing investments for the last few years, and I have understood the ecosystem. The one thing I realized is that the real challenge is in scaling up, Fundamentum will offer more than just capital and provide a 360 degree approach from out team of advisors and in edutech I do only philanthropy, through Ekstep and other channels. In fintech, since I am an advisor to NPCI, I don’t want any conflict of interest in payments. We will also not look at Aadhar-based or India-Stack-based tech companies”
Apart from this, investment team of Fundamentum will also include entrepreneurs like Ashish Kumar, who has joined as a partner and Prateek Jain, who had founded StayGlad.