Venture Intelligence (TSJ Media Pvt. Ltd.)
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IIT-M to launch Rs.200-Cr alumni-backed early stage startup fund
Indian Institute of Technology (IIT) Madras plans to launch an INR 200 crore venture capital (VC) fund to back early-stage startups, particularly in the deeptech domain.Called the ‘IITM Alumni Fund’, the new fund will focus on startups incubated at the institute that are seeking pre-Series A and Series A investments. The fund will operate as an independent legal entity and follow standard VC fund processes. Most of the funding is expected to come from IIT Madras alumni and high-net-worth individuals (HNIs).IIT Madras has incubated over 500 startups, collectively valued at more than INR 50,000 crore (about USD 6 Billion).
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.