IIT Madras deep-tech fund reaches ₹450 crore first close, AIM reports
IIT Madras has announced the first close of IIT Madras Unicorn Frontier Fund I, launched with IIT Madras Research Park and Unicorn India Ventures to back IP-led, engineering-intensive startups. Analytics India Magazine puts the first close at ₹450 crore and reports nearly ₹55 crore deployed across Hathor, Quanstra, Triolt Energy and Carbelim. The institute’s press release gives a ₹600-1,000 crore target and a 10+2-year fund structure; AIM describes a potential ₹1,000 crore corpus including a ₹400 crore greenshoe and reports director V. Kamakoti’s call for Indian companies to place orders with homegrown deep-tech startups.
DTT summary based on IIT Madras; Analytics India Magazine's report. The full article is on the publisher's site.
Additional reporting
IIT Madras Unicorn Frontier Fund I
₹450 crore, reported by AIM on 6 Oct 2026
₹600-1,000 crore (target, not amount raised)
Exceeds ₹150 crore, according to IIT Madras
24-30 companies
Primarily TRL 3-4
About 60% initial portfolio; balance follow-on
10+2 years
Nearly ₹55 crore across four startups, per AIM; individual checks not disclosed
Potential ₹1,000 crore including ₹400 crore greenshoe
