Fundamentum Frontier Advisors (F2A), a venture capital firm founded by ex-Fundamentum cofounder Ashish Kumar, has marked the first close of its growth-stage AI and deeptech fund at ₹3,000 crore, making it India’s largest fund in this sector, according to inc42.com. The firm plans to increase the fund size to ₹3,500 crore following strong investor demand.
The fund has attracted capital from both domestic and international investors and will be split across two vehicles. F2A intends to invest in 12-15 companies over the next two to three years, with cheque sizes ranging from ₹100 crore to ₹200 crore each. General partner Debraj Banerjee said the firm is in advanced stages of closing three investments in the upcoming quarter.
F2A’s strategy targets three sectors: consumer businesses leveraging AI and frontier technologies, enterprise software, and deeptech. The fund aims to support Indian companies building deeptech products for global markets, providing capital at a stage when technology is validated and customer scaling begins. Nandan Nilekani, former general partner at Fundamentum, is the anchor investor for the fund.
The fund’s general partners include Ashish Kumar, Debraj Banerjee, and Vivek Singla. The firm’s plan to deploy ₹3,000 crore in growth-stage companies highlights growing investor interest in India’s deeptech and AI sectors, with the next quarter expected to see the closing of three major investments.