IIT-Madras deep tech fund closes ₹450 crore in first fundraising round

The deep technology fund anchored by IIT-Madras has successfully secured ₹450 crore in its first close, establishing a substantial war chest to back emerging technologies and startups. The fundraising round brings together a diverse investor base spanning prominent alumni, family offices, financial institutions, and corporate entities.

The fund has attracted backing from high-profile IIT-Madras alumni, including Kris Gopalakrishnan, co-founder of Infosys and chairperson of Axilor Ventures, alongside other accomplished alumni investors. The participation of leading family offices underscores institutional confidence in the fund's investment thesis and management approach.

The initiative reflects growing recognition of India's deep technology ecosystem and the strategic role premier institutions like IIT-Madras can play in nurturing innovation. Deep technology ventures typically focus on solving complex technical challenges in areas such as artificial intelligence, semiconductors, biotechnology, and advanced materials.

The successful first close positions the fund to deploy capital across early and growth-stage companies addressing fundamental technological challenges. With institutional and corporate participation supplementing alumni investment, the fund brings together both financial resources and technical expertise required to support ambitious deep tech entrepreneurs.