IIT-Bombay Incubator sets up Rs.250-Cr Y-Point VC Fund to back deep-tech startups

IIT Bombay’s Society for Innovation and Entrepreneurship (SINE) launched India’s first incubator-linked deep-tech venture capital fund. The INR 250 crore fund, called Y-Point Venture Capital Fund , aims to support early-stage deep tech startups in the pre-seed to seed stages, emerging from IIT Bombay and other premier academic and research institutions.The fund will target companies working on products rooted in fundamental research in areas that include AI and advanced computing, advanced manufacturing, next-gen materials, life sciences and healthcare, climate and cleantech, space and defence, among others.Y-Point VC Fund, a Category II Alternative Investment Fund (AIF), will invest in 25 to 30 startups, with a maximum ticket size of INR 15 crore. While it will focus on startups originating from IIT Bombay, it will also support ventures from other top institutes.