Fundamentum Partnership, a Bengaluru-based venture capital firm focused on Series B investments in India, announced Fund III on July 9.

The firm said Nandan Nilekani is the anchor limited partner, and that this is his largest investment in any venture capital firm.

Fund III is expected to invest about 1 billion rupees (US$10.5 million) to 1.5 billion rupees (US$15.7 million) per company in consumer technology, fintech, and AI-native or AI-enabled businesses.

The launch comes as India’s private equity and venture capital market declined 17% to US$36 billion in 2025, while deal volumes rose 10%, suggesting capital deployment was more selective but remained active.

Fundamentum said Sanjeev Aggarwal, Prateek Jain, Mayank Kachhwaha, and CFO Sanjay Chaturvedi will lead Fund III.

The firm added that it has made 17 investments across Funds I and II, launched in 2017 and 2022, including Spinny, PharmEasy, and FlexiLoans.

The greenshoe means the fund can accept up to 4 billion rupees (US$42 million) in additional commitments, with deployment subject to registration and scheme terms under India’s Alternative Investment Fund framework.

🔗 Source: The Fundamentum Partnership