India, Feb. 6 -- Days after disclosing its third VC fund, deeptech focussed VC firm Unicorn India Ventures has announced a partnership with IIT Madras's university-based research park, IIT Madras Research Park, to launch a Rs.600 Cr deeptech-focussed fund.

Via the fund, the duo would look to back at least 25 deeptech startups operating in segments like robotics, spacetech, defensetech, semiconductors, medtech, among others. Unicorn India Ventures would act as a manager for the fund.

The average cheque size per investment will range from Rs.8-10 Cr. While 60% of the fund will be used for portfolio building, the remaining 40% will be reserved for follow-on rounds.

The idea for the fund was first announced in June last year, when the targ...