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Synopsis
The rigorous and time-taking selection of startups paid off for Fundamentum, with two of its four bets turning unicorns and another likely to join that league soon. The rapid rise of its startups shows that its chosen niche of “early-growth capital” worked for the VC firm, which is now raising its second fund.
After its launch four years ago, venture-capital firm Fundamentum was hardly in the news. It is a small fund of USD100 million, which makes one or two investments a year. Its moderate size, few deals, and low profile gave it the impression of billionaire IT doyen Nandan Nilekani’s side gig. Nilekani, Infosys co-founder and later chief architect of India’s unique identity programme Aadhaar, straddles across public policy, philanthropy, business,
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