India, July 8 -- Indian Institute of Technology (IIT) Madras has said it plans to launch an INR 200 Cr 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 announcement was made at Sangam 2025, IIT Madras' annual alumni event held in Bengaluru last week.

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).

Notably, IIT Madras counts the likes of electric vehicle (EV) maker Ather Energy and AI unicorn Unipho...