The Society for Innovation and Entrepreneurship (SINE) at IIT Bombay has launched India’s first deep-tech venture capital fund managed by an academia-linked incubator -- the Y-Point Venture Capital Fund. With a total corpus of Rs 250 crore, the fund aims to accelerate early-stage deep-tech startups by providing critical risk capital.

SINE, the technology business incubator hosted at IIT Bombay, has spent over two decades nurturing technological innovation and enabling research translation into market-ready enterprises. The incubator has supported 500+ startups and over 1,000 innovators to date.

In its statement, IIT Bombay highlighted that deep-tech ventures often face longer gestation periods, high capital needs, and require specialised mentorship and market access.

“The fund is a direct response to these pain points and is designed to accelerate the journey of a startup from lab to market,” the institute said.

The Y-Point Venture Capital Fund will invest in deep-tech startups emerging not only from IIT Bombay but also from other leading academic and research institutions across the country.

Key features include:

    Investment stages: Pre-seed and seed
    Portfolio size: 25–30 startups
    Maximum ticket size: INR 15 crore per startup
    Sectors of interest:
        Artificial Intelligence
        Advanced Computing
        Advanced Manufacturing
        Advanced Materials
        Nuclear Technology
        Space & Defence
        Climate & CleanTech
        Life Sciences & Healthcare

The initiative is expected to give a significant boost to India’s rapidly growing deep-tech landscape.

Dr K. Radhakrishnan, chairperson, Board of Governors, IIT Bombay, said the fund will catalyse globally competitive ventures by leveraging India’s academic excellence and research capabilities. “It will accelerate the lab-to-market journey by providing the right amount of capital for technologies to quickly move up the readiness ladder,” he noted.

Prof Shireesh Kedare, director, IIT Bombay, emphasised SINE’s long standing impact: “SINE has been pivotal in the growth of the startup ecosystem at IIT Bombay. This fund enhances its role in translating cutting-edge research into commercially viable products.”

Shaji Varghese, CEO of SINE, confirmed that the fund has received SEBI approval and is registered as a Category II Alternative Investment Fund (AIF).

He added that the overwhelming interest from IIT Bombay alumni, institutional investors, and corporate partners positions the fund to close its fundraising in the next 6–9 months.  Evaluations for investments are already underway, with 2–3 deals expected to close within the next few months.

The fund is expected to deepen private-sector participation in IIT Bombay’s innovation ecosystem.

The launch of the Rs 250 crore Deep Tech Fund marks a significant moment not only for SINE IIT Bombay but also for India’s ambitions to become a global technological innovation hub.

By addressing a longstanding funding gap in deep-tech and offering comprehensive ecosystem support, SINE aims to empower breakthrough ventures that could shape the nation’s future.