2 weeks ago
Bluehill.VC Closes Maiden ₹400 Cr Frontier Tech Fund
A company called Bluehill.VC helps new, small companies grow.
It has collected 400 crore rupees from groups that want to support exciting new technology.
This money is called a fund, and it is the first fund Bluehill.VC has made.
The firm will use this money to help about 15 or 16 young companies.
These companies work on things like electric cars, space, robots, computer chips and advanced manufacturing.
The companies are usually very new, at their seed or Series A stage.
Bluehill.VC expects to give each company about one to two million dollars at first.
It plans to spend 80 crore rupees of this money in the next six months.
The firm hopes to start another fund in 2027.
Many people in India are excited about deep technology right now, so this is good timing.
Bluehill.VC has marked the final close of its maiden ₹400 Cr frontier tech fund, which includes a ₹50 Cr greenshoe option.
The fund drew participation from SIDBI, the Kerala and Uttar Pradesh state governments, family offices, entrepreneurs and UHNIs from India and the Middle East.
The firm plans a concentrated portfolio of 15-16 companies with average first cheques of $1-2 Mn across sectors like energy, semiconductors, defence, space and robotics.
Bluehill plans to deploy ₹80 Cr over the next six months and target launching its next fund in 2027.
The close comes amid India's deeptech momentum, including the expenditure finance committee clearing a ₹1.25 Lakh Cr proposal for India Semiconductor Mission 2.0.
- Who
- Bluehill.VC, an early-stage venture capital firm founded in 2017 by managing partner Manu Iyer and Sridhar Parthasarathy
- What
- Marked the final close of its maiden ₹400 Cr frontier tech fund to back seed-to-Series A startups in sectors like energy, semiconductors, defence, space and robotics
- Where
- India
- When
- Specific date not stated in the article; the close follows recent policy momentum such as the June clearance of the ₹1.25 Lakh Cr India Semiconductor Mission 2.0 proposal
- Why
- To build companies from India that 'don't just participate in global markets, but define them,' amid growing policy support for India's deeptech sector
Key facts
- Fund Size
- ₹400 Cr, with a ₹50 Cr greenshoe option
- Investment Stage
- Seed to Series A
- Target Portfolio
- 15-16 companies
- Average First Cheque
- $1-2 Mn
- Deployment Plan
- ₹80 Cr over the next six months
- Next Fund Target
- 2027
- Founded
- 2017 by Manu Iyer and Sridhar Parthasarathy
- Capital Deployed To Date
- ₹100+ Cr across seven entities
Quotes
Manu Iyer
Managing partner of Bluehill.VC
“Our ambition is simple – to help build companies from India that don’t just participate in global markets, but define them”
inc42.com
Sources
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