Venture capital investor Ashish Kumar launched F2A (Fundamentum Frontier Advisors), a frontier-tech investment platform, after receiving Securities and Exchange Board of India (Sebi) approval for Fundamentum III—AI and DeepTech, a ₹2,000 crore fund. The platform is backed by institutional and individual investors, including anchor investor Nandan Nilekani. F2A will also oversee up to ₹1,000 crore in parallel co-investments and back startups building in consumer, enterprise, and physical AI.
“We are seeing a structural shift in how AI and DeepTech are being built and adopted across sectors. F2A is a continuation of our effort to partner with founders building enduring, technology-led businesses, with the same disciplined, long-term approach that has defined Fundamentum,” said Ashish Kumar, co-founder at Fundamentum Partnership.
“India today has the right combination of talent, ambition, policy, and capital, and this is the moment to dedicate institutional focus to companies building at the frontier.”
Nandan Nilekani, anchor investor at F2A, said technology-led innovation continues to create new opportunities across sectors.
“Platforms combining long-term thinking with strong execution capabilities can play an important role in supporting this evolution. I am excited to support Ashish and the team to further Fundamentum Frontier’s AI and DeepTech strategy and its focus on long-term value creation,” said Nilekani.
F2A builds on the investment playbook developed across Fundamentum’s earlier funds and will target technology-led companies across stages in large and evolving markets. Ashish Kumar has backed consumer-tech startups including Spinny, Kuku FM, AppsForBharat, and Wishlink, along with enterprise-tech companies FarEye, Whizzo, and GenieMode. F2A will continue to back similar companies, with a greater focus on frontier technologies that can drive scale and create durable advantages.
Debraj Banerjee joined F2A as general partner and will co-lead the platform’s AI and deep-tech investment strategy. He brings two decades of experience across venture capital, institutional finance, and technology businesses. Most recently, he was senior fund manager and investment committee member at SIDBI Venture Capital Ltd.
His investments span AI and deep-tech startups including QpiAI, Digantara, SigTuple, and Myelin Foundry, alongside consumer brands such as Vahdam and DrinkPrime.
“We are at an inflection point where AI and DeepTech are moving from experimentation to scaled adoption across sectors,” said Debraj Banerjee, general partner at F2A.
“Having seen similar adoption cycles in more mature markets such as the US, across industries including utilities, BFSI, manufacturing, and frontier technology, I believe India is poised to build globally relevant technology-led businesses over the next decade.”
F2A builds on the investment approach developed across the earlier Fundamentum funds. It is focused on stage-agnostic, technology-led businesses operating in large and evolving markets. Ashish Kumar has sourced and invested in consumer-technology companies including Spinny, Kuku, AppsForBharat, and Wishlink, as well as enterprise-tech companies FarEye, Whizzo, and GenieMode. F2A will continue to back companies of this calibre, with a sharper focus on businesses using frontier technologies to drive scale and defensibility.
Fundamentum Partnership, the venture capital firm, was co-founded by Nandan Nilekani along with other investors in 2017. It is focused on backing technology-driven companies operating in large and evolving markets. The firm partners with founders to build enduring businesses through a long-term, disciplined investment approach.
