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IFC to invest in Nandan Nilekani-led growth fund Fundamentum Partnership

Fundamentum Partnership Fund-I has a targetted corpus of $100-125 mn

Nandan Nilekani

Nandan Nilekani

T E Narasimhan Chennai
The Nandan Nilekani-led growth fund Fundamentum Partnership is planning to raise equity from International Finance Corporation (IFC), the World Bank's investment arm. This is part of the fund's plan to create a corpus of $125 million.

Early this month CDPQ, a Canada-based institutional investor, had invested $20 million in the fund.

IFC did not disclose the quantum of the money it plans to invest, but stated that the fund was seeking to raise $100-125 million in capital commitment, subject to necessary approvals from the trustee. IFC has proposed an equity investment in the fund.

The Fundamentum Partnership, founded in 2017,

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First Published: Mar 30 2018 | 8:50 AM IST

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