Chennai, Feb. 6 -- The IIT Madras Research Park (IITMRP) is partnering with Unicorn India Ventures (UIV) to launch a Rs 600 crore deep tech fund called 'IIT Madras Unicorn Frontier Fund I'.
It will invest in IP-led, engineering-heavy startups (Robotics, Space Tech, Defence Tech, Semiconductors) that align with National strategic interests.
The fund will have Rs. 400 crore 'greenshoe option' and target 25 startups, initially.
IITMRP and UIV will play an equal role in strategic portfolio construction with a significant portion of the companies to be sourcedfrom IITM's larger ecosystem and balance from the wider Indian deep tech ecosystem.
IIT-Madras Director Prof. V. Kamakoti made this landmark announcement during the Inauguration of Entr...