Fundamental VC, a venture capital firm with offices in Bengaluru, has opened its first fund with a target corpus of $130 million for investments in early-stage firms. The fund will invest in companies in a variety of industries, including consumer internet, SaaS, insurtech, healthtech, finance, gaming, and artificial intelligence (AI), among others.
The fund has already begun allocating capital with intentions to lead investments in pre-seed and seed rounds after receiving clearance from the market regulator Securities and Exchange Board of India (Sebi) in March of this year. Fundamental VC seeks to assist 30 firms over a two-year period with an average ticket size of $1.5 million per startup.
“A balanced mix of domestic and foreign Limited Partners (LPs) from countries like Singapore, West Asia, and the US support Fundamental’s first fund. The mix includes numerous unicorn founders, high net worth individuals (HNIs), family offices, and senior technology executives who have long been involved in the early-stage startup ecosystem as operators, digital-first business owners, domain experts, and enablers who could support cross-border expansion in terms of business growth and capital,” the statement continued.
In order to improve GTM (go-to-market), user acquisition, product distribution, hiring, and growth strategy for its portfolio startups, Fundamental VC has exclusive collaborations with a number of industry heavyweights. In their respective capacities, Sundar and Rathi have so far invested in more than 20 businesses, including Agnikul, Kenko, TradeX, BluSmart, Stockgro, Dukaan, eloelo, and Redcliffe Lifesciences.