Cofounder of Infosys Nandan Nilekani and cofounder of Helion Ventures Sanjeev Aggarwal are joining forces to float their own venture capital fund putting in 100 million dollars to begin with and hopefully a larger corpus and more funds if all goes well.
The fund will be called The Fundamentum Partnership and will be dedicated to capitalizing startups on their Series B or C funding bout and will most likely put in anything from 10 to 25 million dollars in each of these deserving growth stage companies working on consumer technology best suited for the Indian market and also those young companies working on enterprise technology and BPO services for multinational companies.
“Our capital is patient. We won’t rush to exit and can stay invested for ten years. Or more…We are not going to spread ourselves thin. We’ll only invest in a handful of entrepreneurs every year,” the firm’s website reads according to media reports.
Nilekani and Aggarwal is reported in the media as possibly putting in 30 to 40 percent of this first corpus while the Fundamentum has raised 50 million dollars so far.
Fundamentum will also guide and mentor their entrepreneurs through crucial areas like leadership, organisation development, building scalable technology architecture, capitalisation on opportunities and inorganic growth.
The Fundamentum Partnership team is rounded out by other veterans like Ashish Kumar, IIT Kanpur alumnus, angel investor and former CEO of ClayRop Wellness as well as Kellton Tech Solutions; Prateek Jain, founder of StayGlad acquired by Quikr with more consumer tech experience from working at Junglee.com and UrbanTouch, and Sanjay Chaturvedi, who will serve as CFO of Fundamentum is also CFO at Helion. Chaturvedi has also worked at GE, PepsiCo and Amba Research.
Fundamentum’s advisory board will include TN Hari, HR head of BigBasket, along with Sanjay Purohit, a former Infosys executive.
Nilekani is an active angel investor and historically is known to invest anything between 1 to 2 million dollars in portfolio startups which include Team Indus (aerospace sector), Mubble (telecom), Juggernaut (publishing), LetsVenture (fintech), and Fortigo (logistics). Nilekani will no longer investing as an angel but will do so only through Fundamentum.
Over at Helion, Aggarwal is responsible for a corpus of 600 million dollars and has backed companies like MakeMyTrip, BigBasket and ShopClues.
“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,” Nilekani is reported as saying by VCCircle.