Fundamentum Partnership, an India-based venture capital firm cofounded by Nandan Nilekani, Sanjeev Kumar, and Ashish Kumar, has launched frontier-tech platform F2A with 30 billion rupees (US$314 million) to invest in AI and deeptech startups.

Of this, 20 billion rupees (US$210 million) will be raised through an alternative investment fund, and 10 billion rupees (US$105 million) will be deployed through co-investments.

Former SIDBI Venture Capital senior fund manager Debraj Banerjee has joined as general partner.

F2A plans to back 12 to 15 companies over the next three years, with cheque sizes of 400 million rupees (US$4.19 million) to 900 million rupees (US$9.43 million) across consumer AI, enterprise AI, and physical AI.

The firm said it will focus on companies at the commercialisation stage rather than the early research phase, where growth-stage funding has been limited for India’s capital-intensive deeptech startups.

The market has grown. Indian deeptech startups attracted US$1.6 billion in 2024, up 78% from 2023. Fundamentum was founded in 2017 as a US$100 million fund and raised US$227 million for its second fund in 2022.

🔗 Source: The Economic Times