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F2A hikes hard cap to Rs 3,500 cr for AI, deeptech fund
In Short
Fundamentum Frontier Advisors (F2A) secures ₹3,000 crore in subscriptions for its growth-stage AI and deeptech fund, raising its hard cap to ₹3,500 crore amid strong investor demand.
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F2A hikes hard cap to Rs 3,500 cr for AI, deeptech fund
New Delhi: Fundamentum Frontier Advisors (F2A), which counts Nandan Nilekani as its anchor investor, has secured aggregate subscriptions of Rs 3,000 crore for a growth-stage AI and deeptech fund and raised its hard cap to Rs 3,500 crore on strong demand.
Indian and overseas investors have put in money in a 70:30 ratio through two regulated vehicles, F2A General Partner Ashish Kumar told PTI. Total demand for the fund is more than Rs 3,500 crore, he said.
"We have already closed subscriptions of Rs 3,000 crore and have a total demand in excess of Rs 3,500 crore at this time," Kumar said, adding that the final close would follow allocations for the remaining Rs 500 crore.
Terming it India's largest dedicated growth-stage AI and deeptech fund, F2A plans to deploy the corpus across 12-15 investments over the next two to three years, with cheques of Rs 100-200 crore each.
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