Ashish Kumar, co-founder of Fundamentum Partnership, the venture capital firm led by Nandan Nilekani, has launched a new investment platform focused on frontier technologies, targeting a corpus of Rs 2,000 crore ($209 million).
The platform titled F2A (Fundamentum Frontier Advisors) has secured approval from the capital markets regulator, the Securities and Exchange Board of India, for its latest fund, Fundamentum III.
The fund is expecting to oversee co-investments up to Rs worth 1,000 crore and tap investments in sectors such as consumer AI, enterprise AI, and physical AI segments.
Nilekani has also joined the initiative as an anchor investor.
Fundamentum Partnership has raised two funds worth $327 million earlier.
F2A has roped in Debraj Banerjee, a former executive of SIDBI Venture Capital, as a General Partner to spearhead the firm’s AI and deeptech investment initiatives.
Before this, as a venture capitalist, Banerjee has backed startups including QpiAI, Digantara, SigTuple, Myelin Foundry, OTPless, DrinkPrime, and Vahdam.
In other fund launches, JM Financial Asset Management announced its second credit-focused Alternative Investment Fund (AIF), targeting a corpus of Rs 1,000 crore ($105 million) with a greenshoe option of an additional Rs 1,000 crore.
