New Delhi : Infosys co-founder Nandan Nilekani has partnered venture capital veteran Sanjeev Aggarwal to set up a USD 100 million fund that will focus on building “enduring technology companies” out of India, specially consumer technology.
Called the ‘The Fundamentum Partnership’, the platform will lead investment rounds ranging between USD 10-25 million in companies that are looking at scaling up and have attained a certain product market fit.
“In a marked departure from industry practice, Fundamentum founders will not be charging any fund management fee or carried interest,” it said in a statement.
Aggarwal — who had also founded of BPO firm Daksh — will continue to also actively manage the portfolio of Helion Venture Partners (which he co-founded) along with other co- founders. “Fundamentum will have an initial corpus of USD 100 million but it will be extended to USD 200 million if good opportunities come along,” the statement said.
It added that the capital will also be contributed by a select set of long-term institutional investors. While the focus is on consumer technology businesses, a portion of the capital will also go into enterprise technology/outsourcing companies serving global corporations.