Fundamental VC, an early-stage venture capital, has launched its first fund with a target corpus of $130 million.
The firm plans to invest in 30 startups over two years through this new fund.
According to the company’s press statement, its first fund is backed by domestic and international Limited Partners (LPs) from regions such as West Asia, Singapore and the US.
The mix of international Limited Partners includes multiple unicorn founders, high net worth individuals (HNIs), family offices and senior technical executives.
The Bengaluru-based Fundamental VC was founded by Saswat Sundar and Abhishek Rathi, It will be a sector-agnostic fund that will invest in startups in consumer internet, healthcare, insurance, financial services, SaaS, gaming and AI etc.
It has already started capitalizing on pre-seed and seed rounds of investments, each investing up to $1.5 million in startups.
“Our focus on early-stage startups is primarily due to our extensive experience-driven ability to understand the pulse of the ecosystem, and build companies from the ground-up and scale them globally”, said, Saswat Sundar, Co-founder of Fundamental VC.
Its founders have already invested in more than 20 startups in their individual capacity, including Agnikul, Kenko, TradeX, BluSmart, StockGro, Dukaan, Elo Elo and Radcliffe Lifesciences.
The firm aims to present the term sheet within a week and deploy the capital within a period of one month from the close of the deal.
Abhishek Rathi, Co-founder, Fundamental VC, said, “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 realised that there is a strong need for approachable institutional capital support for early-stage founders.”
About Fundamental VC
They partner with the most ambitious founders early on, turning their ideas to action, aspirations to life, values to team and vision to reality. They have been in their shoes as operators, building ventures from scratch till unicorn. Hence, their philosophy is not being merely founder-friendly but a founders’ best bet.