IIT-Madras, Unicorn India Ventures Launch Rs 600-Crore Deep Tech Fund

• IIT Madras Research Park (IITMRP) and Unicorn India Ventures (UIV) launched the "IITM Unicorn Frontier Fund I".
• The Rs 600-crore deep tech fund, with a Rs 400-crore greenshoe option, targets early-stage startups.
• Focus areas include space tech, semiconductors, and defence tech, supporting IP-led, engineering-heavy ventures.
• The fund aims to invest in over 25 companies, with an average first cheque of Rs 8-10 crore.
• It adopts a dual-stage approach, investing in TRL 3-4 startups and supporting TRL 5-9 for market acceleration.