Fundamentum’s F2A raises ₹3,000 crore for AI, deeptech fund

Fundamentum’s dedicated frontier-tech platform F2A has closed a ₹3,000 crore fund targeting AI and deeptech startups. The vehicle, launched in May 2026, is led by former Fundamentum partner Ashish Kumar alongside general partners Debraj Banerjee and Vivek Singla.

The fund’s backers include key investors from Fundamentum’s broader portfolio. F2A’s focus aligns with a broader trend of India-centric funds raising capital for advanced technology sectors. Last week, the government’s ₹1 lakh crore Research, Development and Innovation (RDI) Fund committed ₹7,131 crore to deeptech-focused fund managers, while IIT Madras and Unicorn India Ventures secured ₹450 crore in September for a similar strategy.

F2A’s scale stands out: ₹3,000 crore is nearly three times the first close of the IITM Unicorn Frontier Fund and exceeds the typical size of India-focused deeptech vehicles. The fund’s leadership—drawn from Fundamentum’s team—suggests a continuation of its investment thesis, though with a sharper focus on AI and emerging technologies. The fund’s deployment strategy may differ from smaller, more frequent rounds seen in enterprise AI (such as BAG Ventures’ $11.3 million Fund I).

The fund’s size reflects investor confidence in India’s deeptech ecosystem, though the pace of returns will determine its long-term impact.

Sources: economictimes.indiatimes.com