Fundamentum has launched its third technology fund, while Alpha Wave Global senior director Ankur Kathuria has joined hands with Carlyle’s Aamir Zeb to launch a mid-market PE-style fund.
Fundamentum launches third fund
Growth-stage technology investment firm Fundamentum, led by Infosys cofounder Nandan Nilekani and Helion Ventures founder Sanjeev Aggarwal, has launched its third technology fund, targeting a corpus of Rs 2,200 crore ($230 million), per a report by The Economic Times (ET).
This includes a Rs 400 crore greenshoe option, stated the report, adding that Nilekani will be anchoring the fund.
The fund plans to back companies in sectors such as consumer technology and fintech. It will also invest in AI-native and AI-enabled businesses.
It aims to write initial cheques of $10-15 million for each company, with about 40% of the corpus reserved for follow-on investments.
In the past, Fundamentum has invested in companies such as Stable Money, Spinny, and Azure Power, among others.
Alpha Wave Global exec to launch fund
Alpha Wave Global senior director Ankur Kathuria has decided to step down from the firm to launch a Rs 1,000 crore mid-market PE-style fund with Carlyle’s Aamir Zeb, as stated in an ET report.
Kathuria’s departure comes after several senior members of the US-based investment firm’s India team have quit the firm in the past few years, including fund managers Anirudh Singh, Lakshay Manchanda, Arjun Vikas and Tushar Behl.
The exits come as the firm shifts its investment strategy from focusing exclusively on technology startups in India to backing traditional businesses.
