Bengaluru: Former Unique Identification Authority of India chairman and Infosys Ltd co-founder Nandan Nilekani has teamed up with venture capital investor Sanjeev Aggarwal to launch a new $100 million fund called The Fundamentum Partnership for mid-stage consumer technology and software start-ups that could be the next big thing.
Nilekani said the size of the fund could be increased to $200 million if it finds enough lucrative bets.
In an interview, Nilekani said the new venture capital fund had already raised about $50 million of the total corpus, with the remaining half expected to be closed over the next few months. Nilekani and Aggarwal together are contributing roughly a third of the fund, or about $30-35 million.
Nilekani and Helion Ventures founder Aggarwal have already identified a team to manage the fund; they have hired Indian Institute of Technology (IIT)-Kanpur graduate and entrepreneur Ashish Kumar and IIT-Kharagpur graduate Pratik Guha as partners.
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