Bangalore, India-based Venture capital firm Fundamental VC launched its maiden USD 130 million funds for early-age startups. The announcement came on June 24, 2022. In March 2022, the fund received approval from the Securities and Exchange Board of India (SEBI).
Following the approval, the company has already started investing capital in pre-seed and seed funding rounds. The average investment for each startup is up to USD 1.5 million. Moreover, the venture capital firm aims to support thirty startups in a two-year period.
Purpose of Fund by Fundamental VC
The Bangalore-based company will invest in pre-seed and seed rounds of funding. These startups will belong to various sectors such as consumer, internet, healthcare, insurance, financial services, Software as a Service, gaming, and artificial intelligence.
Meanwhile, Fundamental VC will raise the money in phases as parts of cohorts from investors. The fund will also deploy the capital in stages.
The partners of Fundamental VC are a mix of domestic and international investors. They come from regions such as Singapore, the Middle East, and the US. The mix includes unicorn founders, HNIs, family offices, and senior technology executives. The investors have been a part of the early-stage startup ecosystem in various capacities.
What the co-founders have to say
“Our focus on early-stage startups is due to our ability to understand the pulse of the ecosystem and build companies from the ground up and scale them globally. Whether it is networking to strengthen the proposition, building a high-quality team or finding solutions to daily teething issues, we understand the hassles of starting up and intend to work collaboratively with founders,” said Saswat Sundar, co-founder of Fundamental VC.
“We will invest in a limited set of businesses with sound fundamentals instead of a spray-and-pray approach. As a part of our portfolio growth strategy, we have created a ‘ready-to-scale’ stack to help our portfolio companies achieve PMF (product-market fit) and scale,” he further added.
In addition, Abhishek Rathi said, “We have realized that there is a strong need for approachable institutional capital support for early-stage founders. Our vision is to fill this gap by being the most reliable, approachable, founder-centric and smart institutional capital support from day zero. Fundraising has always been a full-time activity for entrepreneurs. Hence, as partners with a skin-in-the-game approach, we want to ensure that founders stay focused on building what they enjoy the most while we take on the responsibility of enabling capital support required to build their venture.”
“Being associated with the early-stage startup ecosystem for over a decade and having seen cycles of thousands of startups from the idea to growth stage and beyond, we have realized that there is a strong need for approachable institutional capital support for early-stage founders,” he further added.
About Fundamental VC
Former startup operators Saswat Sundar and Abhishek Rathi co-founded Fundamental VC. The company enjoys partnerships with several industry leaders. The partnerships enable the company to facilitate better GTM (go-to-market), user acquisition, product distribution, hiring and growth strategy for its portfolio startups. Agnikul, Kenko, TradeX, BluSmart, StockGro, Dukaan, Elo Elo, and Redcliffe Lifesciences are some companies that received investment from the founders.
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