Fundamental VC initiated $130 million funds
Fundamental VC, based in Bengaluru, has initiated its first-ever fund, with a target corpus of $130 million to focus on initial startup companies. The fund will invest in businesses in various industries, such as internet services, SaaS, insurance, health tech, financial technology, gaming, AI, and several others.
The fund’s average ticket magnitude will be $1.5 million. This implies that Fundamental VC plans to invest in 30 startups within the next two years. It has already begun a resource view to businesses to lead pre-seed and seed rounds.
As per the company’s press release, Fundamental VC’s first investment is supported by domestic and international Limited Partners (LPs) from West Asia, Singapore, and the United States.
“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,”Sundar, cofounder of Fundamental VC.
Saswat Sundar and Abhishek Rathi, who previously collaborated on the startup fundraising console LetsVenture, founded Fundamental VC. It is also the duo’s 2nd venture capital initiative. Fundamental VC has planned a a’ready-to-scale stack to assist its portfolio startups in achieving product-market fit. Sundar also stated that the Venture Capital firm would engage in a limited number of companies with solid foundations.