Fundamental VC launches $130M maiden fund to invest in early-stage startups

Fundamental VC, a Bengaluru-based early-stage venture capital, has launched its maiden fund with a target corpus of $130 million.

Founded by Saswat Sundar and Abhishek Rathi, Fundamental VC will be a sector-agnostic fund that will invest in startups across consumer internet, healthcare, insurance, financial services, SaaS, gaming, and AI, etc. It has already started deploying capital in pre-seed and seed rounds of funding, with investment up to $1.5 million in each startup.

Fundamental VC Co-founder Saswat Sundar said, “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.”

The founders of this VC fund have extensive experience on the fundraising side of the startup ecosystem. They plan to invest in 30 startups over two years though this new fund.

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The limited partners of Fundamental VC are mix of domestic and international investors from Singapore, the Middle East, and the US. They comprise unicorn founders, HNIs, family offices, and senior technology executives, who have been associated with the early-stage startup ecosystem in various capacities.

The founders of Fundamental VC have already invested in their individual capacity in over 20 startups, including Agnikul, Kenko, TradeX, BluSmart, StockGro, Dukaan, Elo Elo, and Redcliffe Lifesciences.

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.”

Fundamental VC aims to offer a term sheet within a week's time and deploy capital within a period of one month from the closure of the deal.