Nandan Nilekani will cease being a general partner at Fundamentum Partnership as it launches a $200 million third fund. Nilekani will remain an anchor investor and advisor, continuing to mentor portfolio companies.
Nandan Nilekani, co-founder of Infosys, is leaving his role as a general partner at Fundamentum Partnership. This change comes as the firm embarks on launching its third fund, targeting a total raise of $200 million. Nilekani, 71, is known for his significant contributions to India's tech landscape, including the creation of Aadhaar.
Founded in 2017, Fundamentum focuses on backing early-stage Indian startups, particularly at the Series B level and beyond. Its portfolio includes various companies, such as Spinny and PharmEasy. The firm's co-founder Sanjeev Aggarwal noted that Nilekani's departure from the general partner role is not a loss of involvement, claiming it is merely a title change.
The third fund aims to support eight to ten startups focusing on consumer technology, fintech, and AI. Each startup could receive initial investments of around ₹100 crore (about $10.5 million). Although the firm has not officially closed the fund, they have started deploying capital and anticipate completing fundraising within the next year to 18 months.
Despite stepping down as GP, Nilekani remains influential at Fundamentum, expected to be heavily involved in mentoring and providing strategic advice. His advocacy for India's digital advancements continues to resonate within the startup ecosystem, demonstrating the firm's commitment to leveraging his expertise even in a more limited capacity.
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Nandan Nilekani will cease being a general partner at Fundamentum Partnership as it launches a $200 million third fund. Nilekani will remain an anchor investor and advisor, continuing to mentor portfolio companies.