Kul Bhushan · · 1 min readIndia-based VC launches $130m fund to back early-stage startups
Fundamental VC, an India-based early-stage VC firm, has launched a US$130 million fund to support local startups.
Saswat Sundar (left) and Abhishek Rathi, the firm’s co-founders / Photo credit: Fundamental VC
The fund – the firm’s first – is backed by investors from different geographies such as Singapore, the Middle East, and the US. Limited partners also include unicorn founders, family offices, high-net-worth individuals, and senior technology executives.
Fundamental VC would lead investments in pre-seed and seed rounds and inject up to US$1.5 million in each startup. It plans to support up to 30 startups across sectors such as AI, healthcare, insurance, SaaS, and gaming via the fund’s first cohort in the next two years.
Established by Saswat Sundar and Abhishek Rathi, Fundamental VC has already begun deploying the capital after receiving approval from India’s market regulator in March. Sundar previously worked with firms such as Oyo and Stashfin, Rathi had stints with LetsVenture and Citibank India.
In their individual capacities, the co-founders have cumulatively backed more than 20 firms including Animall, Rocketium, Dukaan, and Agnikul.
See also: These are the most active investors in India’s startups
Editing by Samreen Ahmad and Eileen C. Ang
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