New Delhi, July 9 -- The Fundamentum Partnership, founded by Nandan Nilekani and Sanjeev Aggarwal in 2017, has launched Fundamentum Partnership Fund III with a target of Rs.2,200 crore ($230 million), including a Rs.400 crore greenshoe option.

"Fund III will be the same strategy as the previous funds. We will be lead investors in companies raising their Series B rounds with a $10-15 million cheque," Prateek Jain, general partner at Fundamentum Partnership, said in an interview with Mint.

Nilekani has anchored the fund as its lead limited partner (LP), making it his largest-ever investment in a venture capital firm.

Jain, who handles the firm's consumer technology vertical, and Mayank Kachhwaha, who oversees fintech investments, have be...