Nandan Nilekani leaves GP role at Fundamentum as it launches $200M third fund

Nandan Nilekani, the Infosys co-founder, is stepping down as a general partner at Fundamentum Partnership, the venture capital firm he co-founded nearly a decade ago, as the firm launches its third fund targeting $200 million. Nilekani will remain an anchor investor and continue advising the firm and mentoring portfolio companies, with co-founder Sanjeev Aggarwal describing the change as "just a title thing." Nilekani, 71, is one of India's most prominent technology leaders, known for co-founding Infosys and leading the creation of Aadhaar and UPI. Fund III will be led by Aggarwal alongside Prateek Jain, Mayank Kachhwaha, and Sanjay Chaturvedi, and aims to back 8 to 10 early-stage startups in consumer technology, fintech, and AI, with initial checks of about $10.5 million each. Nilekani is making his largest-ever commitment to a venture capital fund, though the amount was not disclosed. The fund expects to raise roughly half its target from international investors and the remainder from Indian institutions, family offices, and partners, reflecting the evolution of India's venture capital ecosystem.