Infosys cofounder Nandan Nilekani and Helion Ventures founder Sanjeev Aggarwal have launched Fundamentum III, their third growth-stage technology fund, with a target corpus of Rs 2,200 crore, including a Rs 400 crore greenshoe option, at a time when scale-up capital remains selective after the post-pandemic funding reset.
Nilekani will be anchoring the fund with what Fundamentum described as his largest investment in a venture capital firm. The vehicle will be led by Aggarwal, Prateek Jain, Mayank Kachhwaha, and Sanjay Chaturvedi as general partners.
According to people aware of the matter, Nilekani was a general partner (GP) in Fundamentum's first two vehicles, where his operational involvement was limited. With Fund III and the newly launched Fundamentum Frontier Advisors (F2A), Nilekani has transitioned to an anchor LP’s role. Sources said his involvement will largely remain unchanged, with him continuing to mentor the team and founders, as in the previous two funds.
