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2 clusters · 10 sources · 3 days · First seen · Last updated
IIT Madras deep-tech fund launch
Overview
IIT Madras Research Park and Unicorn India Ventures have launched the IITM Unicorn Frontier Fund I, a deep-tech investment vehicle targeting early-stage, intellectual property-led startups in India. The fund has reached a first close of ₹450 crore, with a total target corpus of ₹1,000 crore, which includes a ₹400 crore greenshoe option.
The fund focuses on engineering-intensive sectors such as space technology, quantum computing, robotics, semiconductors, defense, and medical technology. It is designed to provide patient capital to companies with longer development cycles, utilizing a 10+2-year investment horizon to assist the transition from research to commercial scale.
Approximately ₹55 crore has already been deployed into four startups: Hathor (rocket engines), Quanstra (quantum instrumentation), Triolt Energy (lithium-ion battery cells), and Carbelim (carbon capture technology).
Entities
IIT Madras Research Park · Unicorn India Ventures · Nirmala Sitharaman · IIT Madras · Securities and Exchange Board of India
Timeline
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[BUSINESS] 2 sourcesIIT Madras launches deep-tech fund to back frontier startups
IIT Madras Research Park and Unicorn India Ventures have launched the IITM Unicorn Frontier Fund I, a deep-tech fund targeting 25+ IP-led startups in sectors like space, quantum, and robotics.
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[BUSINESS] 8 sourcesIIT Madras and Unicorn India Ventures reach ₹450 crore first close for deep-tech fund
IIT Madras and Unicorn India Ventures have achieved a ₹450 crore first close for their ₹1,000 crore deep-tech fund, targeting startups in space, defense, semiconductors, and AI.
Sources
ciol.com · deccanchronicle.com · dtnext.in · inc42.com · newindianexpress.com · newsindiatimes.com · pulse2.com · startupsuccessstories.in · timesnownews.com · world-today-news.com