IIT Madras, Unicorn India Ventures Mark First Close Of Fund I At ₹450 Cr

by · Inc42

SUMMARY

  • IIT Madras, IIT Madras Research Park, and Unicorn India Ventures have announced the first close of IITM Unicorn Frontier Fund I at ₹450 Cr, with nearly ₹55 Cr already deployed across four startups.
  • The first close adds to a string of deeptech fund announcements in India, as investors commit more capital to sectors such as semiconductors, spacetech, and advanced manufacturing.
  • The fund targets a portfolio of 25 startups with cheques of ₹15-25 Cr and aims to complete fundraising by December 2026, targeting ₹1,000 Cr.