A US $130 million funds has been established by India-based early-stage venture capital company Fundamental VC to help regional businesses.
The firm’s initial fund is supported by investors from several countries, including Singapore, the Middle East, and the US. Limited partners also include high-net-worth individuals, family offices, unicorn founders, and seasoned technology professionals.
Pre-seed and seed rounds would be led by Fundamental VC, which would invest up to US $1.5 million in each business. In the next two years, it intends to provide funding to up to 30 entrepreneurs operating in industries including artificial intelligence, gaming, healthcare, insurance, and SaaS.
Fundamental VC, which was founded by Saswat Sundar and Abhishek Rathi, has already started allocating the funds after getting the go-ahead from India’s market regulator in March. Rathi formerly worked with LetsVenture and Citibank India, while Sundar previously had positions with companies like Oyo and Stashfin.
The co-founders have collectively invested in more than 20 businesses in their various roles, including Animall, Rocketium, Dukaan, and Agnikul.
