Nandan Nilekani's scale up platform to invest $227M in Indian startups
Fundamentum Partnership plans to invest $227 million in new Indian businesses over the next five years. The scale up platform was co-founded by Nandan Nilekani, co-chairman of Infosys. Fundamentum Partnership, a scale up platform, has secured USD 227 million (about Rs. 1,793 crore) for its second fund. Nandan Nilekani, co-chairman of Infosys, jointly founded Fundamentum Partnership along with Ashish Kumar. Fundamentum intends to invest in four to five early growth stage Indian firms. Kumar stated that the money would be deployed over the next five years, mostly in Series B, which is typically the second round of investing in a company once it has hit certain milestones and is on a growth trajectory. Kumar said, "This is our second investment fund. Each year, we intend to lead or co-lead USD 25-40 million rounds and invest in 4-5 businesses." Fundamentum's initial fund, worth around USD 100 million, was carefully invested in six early development sta...