Fund News
IIT Madras Research Park, Unicorn India Ventures launch Rs.600-Cr deep tech fund
The Indian Institute of Technology Madras Research Park (IITMRP) and venture capital firm Unicorn India Ventures have launched the 'IIT Madras Unicorn Frontier Fund I', with a target corpus of INR 600 crore and a greenshoe option of INR 400 crore.The fund aims to back early-stage deep technology startups, focusing on intellectual property-led ventures in domains such as robotics, space technology, defence, and semiconductors. It plans to invest in about 25 startups initially, with an average first cheque size of INR 8-10 crore. The fund is designed with a lifecycle of up to 12 years and will source a majority of its portfolio from startups incubated at IIT Madras.
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