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Fundamentum raises $227 Mn for second fund

Venture capital firm Fundamentum Partnership has raised $227 million for its second fund which would be invested in early growth stage Indian startups.

Fundamentum plans to fund enterprises that have attained product-market fit and have developed momentum in their scale-up journey. The Gurugram-based firm plans to lead or co-lead $25-40 million round, investing in 4-5 startups each year.

Launched in 2017, Fundamentum’s first fund was deployed strategically in early and growth stage startups, including PharmEasy and Spinny which have attained unicorn status. Post the fund’s initial investment, Fundamentum’s portfolio companies have collectively raised over $1 billion in follow-on rounds.

The fund will focus on tech-driven enterprises in the consumer internet and enterprise software space in India. Besides PharmEasy and Spinny, it has backed Ayu Health, FarEye, Probo, ShopClues and Azure Power among others.

Fundamentum was co-founded by Infosys’ co-founder Nandan Nilekani, Helion Venture’s co-founder Sanjeev Aggarwal and later joined by Indian Angel Network’s investor Ashish Kumar.

According to data compiled by Fintrackr, around 90 startup investment firms, including 63 VC firms, eight PE firms, and four debt firms, have launched or are in the final leg to announce their new fund in 2022.

The Fundamentum Partnership seems to be a captivating startup with inspiring new development on venture capital and private equity principals platform. This startup would continue to prosper in the future. Wishing this startup good luck in all its future endeavors.

Shishir Gupta, Founder and CEO, StartupLanes

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