Nandan Nilekani, co‑founder of Infosys, will no longer act as a general partner at Fundamentum Partnership, the firm he launched in 2017. Nilekani will stay on as the fund’s anchor investor and continue mentoring portfolio companies as Fund III raises about $200 million.

Fund III will deploy capital to eight to ten Series B and beyond startups, issuing initial checks of roughly ₹100 crore (about $10.5 million) each. The senior investment team will feature Sanjeev Aggarwal, Prateek Jain, Mayank Kachhwaha, and Sanjay Chaturvedi.

Fundamentum’s strategy reflects a shift toward domestic capital, with roughly half of Fund III’s target expected from Indian investors and the rest from international investors. The firm targets AI‑enabled consumer technology, fintech, and content solutions built on global models, positioning itself within India’s growing AI‑application ecosystem.

The move signals that Indian investors are now taking a larger role in venture funding, reducing reliance on U.S. capital. For founders, Nilekani’s continued mentorship and the firm’s track record—including Spinny, Pharm Easy, Kuku FM, and Apps For Bharat—create a compelling platform for scaling and exit opportunities.