• IIT Madras Research Park (IITMRP) plans a Rs 500 crore venture capital fund to support early-stage deep-tech startups.
• The fund will back startups in seed to Series A stages, including those outside IITMRP, aligned with national innovation goals.
• IIT alumni and industry partners have already shown strong interest and early commitments.

IIT Madras Research Park (IITMRP) is setting up a Rs 500 crore venture capital fund to boost India’s deep-tech startup ecosystem. The initiative aims to bridge early-stage funding gaps for startups building breakthrough technologies. The park has begun the process of appointing a fund manager and expects its first close by March 2026, pending SEBI approval.

According to Natarajan Malupillai, Group CEO of IITMRP, the fund will primarily target seed, pre-Series A, and Series A startups, offering catalytic capital to help them attract commercial investment. Each investment will range between Rs 4 crore and Rs 5 crore. “The idea is to give young companies the runway to build strong, scalable deep-tech products”,  Malupillai said.

While startups incubated at IITMRP will be key beneficiaries, the fund will also support promising ventures nationwide that align with India’s R&D and innovation goals. The park is also in talks with the Anusandhan National Research Foundation (ANRF) and the Department of Science and Technology’s Research, Development and Innovation (RDI) scheme for collaboration opportunities.

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The 10-year fund (extendable by two years) will draw support from IIT Madras alumni, corporate sponsors, and research park partners. IITMRP, home to successful startups like Ather Energy and Uniphore, hopes the fund will accelerate India’s deep-tech innovation landscape and strengthen industry-academia collaboration.