Nilekani, VC Aggarwal float $100-mn tech fund to back mid-stage startups

 

Infosys co-founder Nandan Nilekani and venture capitalist Sanjeev Aggarwal have launched a $100-million venture fund to back mid-stage start-ups that solve unique Indian problems in the consumer technology space.

While Nilekani is looking to back companies that target India’s domestic economy, he also senses opportunities in backing enterprise technology firms and outsourcing companies that serve global corporations — a model Infosys helped pioneer to become India’s second-largest software exporter.

The venture, which has been dubbed “The Fundamentum Partnership”, will look to lead investment rounds of $10 million to $25 million. It will have an initial corpus of $100