New fund · Financial Services

Ashish Kumar launches F2A with Rs 2,000 Cr fund and up to Rs 1,000 Cr in co-investments

What they do

F2A is a new investment platform focused on frontier technology startups

The fund targets Rs 3,000 Cr including Rs 2,000 Cr for AI and deep tech

Nandan Nilekani anchors the fund which has received SEBI approval for operations

Ashish Kumar has launched F2A (Fundamentum Frontier Advisors) as a new investment platform.
The platform targets a total corpus of Rs 3,000 Cr for frontier-tech investments.
This includes Fundamentum III – AI and DeepTech with a target of Rs 2,000 Cr.
The fund will manage up to Rs 1,000 Cr in co-investments alongside the main fund.
Nandan Nilekani serves as the anchor investor for this new venture.
The fund has successfully received regulatory approval from SEBI for its operations.
Debraj Banerjee joins as General Partner to co-lead the AI and deep tech strategy.
Kumar continues to oversee the existing portfolio while launching this new frontier-focused entity.

The launch signals a dedicated push into specialized frontier technology sectors by Fundamentum.

F2A focuses on stage-agnostic tech startups operating in AI and deep tech.
Investment sectors include consumer technology, enterprise solutions, and physical AI applications.
The platform manages both direct fund investments and separate co-investment opportunities.
It builds upon the existing experience of the Fundamentum Partnership team.
The strategy leverages past successful investments in companies like QpiAI and Digantara.

Nandan Nilekani (anchor) — Serves as the anchor investor for the Fundamentum III fund.