IIT Madras And Unicorn India Ventures Close ₹450 Cr Fund
According to Inc42, the Indian Institute of Technology Madras, the IIT Madras Research Park, and Unicorn India Ventures have announced the first close of the IITM Unicorn Frontier Fund I at ₹450 crore. Nearly ₹55 crore of the capital has already been deployed across four startups.
The announcement follows a broader trend of deeptech fund launches in the country, with institutional and venture capital investors allocating capital toward high-technology sectors such as artificial intelligence, semiconductors, spacetech, and advanced manufacturing.
The newly formed fund aims to build a portfolio of approximately 25 startups, deploying individual cheques ranging between ₹15 crore and ₹25 crore. The fund managers plan to complete the overall fundraising process by December 2026, with a target corpus of ₹1,000 crore.
The initiative highlights the growing integration between academic research institutions and private venture capital in scaling deeptech and enterprise technology solutions within the Indian startup ecosystem.
Based on reporting by inc42.com.
