Nandan Nilekani, co-founder of Infosys and one of India's best-known technology figures, is stepping down as a general partner at Fundamentum Partnership, the venture capital firm he co-founded in 2017. The change coincides with the launch of Fundamentum's third fund, which is targeting around $200 million. Although he is relinquishing the GP title, Nilekani will remain closely involved as the fund's anchor investor and will continue advising the firm and mentoring portfolio founders — a shift his co-founder Sanjeev Aggarwal characterised as "just a title thing".

Fund III aims to back eight to ten early-stage startups in consumer technology, fintech and AI, writing initial cheques of about ₹100 crore (roughly $10.5 million) each, with fundraising expected to conclude within 12 to 18 months. Roughly half the capital is expected from international investors and the rest from Indian institutions, family offices and founders — a sign of how India's domestic venture ecosystem has matured. The fund will be led by Aggarwal alongside Prateek Jain, Mayank Kachhwaha and Sanjay Chaturvedi. The reshuffle follows GP Ashish Kumar's departure to launch a separate AI fund, F2A, which Nilekani also anchors.