Infosys co-chairman Nandan Nilekani co-founded the Fundamentum Partnership, which has raised USD 227 million (approx.). 1,793 crore) is planning to invest in four to five early growth stage Indian startups for its second fund.
Fundamentum Partnerships co-founder and general partner Ashish Kumar said the fund will be deployed primarily in Series B over the next five years, which is usually the second round of funding in startups when it meets certain milestones. and captures the growth trajectory.
“This is our second fund. We plan to lead or co-lead rounds of USD 25-40 million and invest in 4-5 startups every year,” Kumar said.
Fundamentum’s first fund, which totaled close to USD 100 million, was strategically positioned in six early growth stage startups, including Pharmacy and Spiny, that have achieved unicorn status.
Since the fund’s initial investment, Fundamentum’s portfolio companies have collectively raised over USD 1 billion in follow-on rounds. Kumar has confirmed that Fundamentum will invest in Software-as-a-Service (SaaS) firms – India Apps and Healthcare.
Amidst the buzz of economic slowdown, SaaS firms have good growth opportunities as enterprises can cut their fixed costs like human resources through digitization, he said.
“We have a healthy pipeline and are seeing over 200 deals every year with an aim to invest in 4-5 startups. We are already in the process of investing in two startups. One deal closes in about a month. is expected, and the second should be completed a few weeks after that,” Kumar said.
Fundamentum has also invested in logistics SaaS firms Fareye, Ayu Health and Probo.
(with PTI inputs)
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