Archive · 7 Nov 2025
IvyCap Ventures Targets Deeptech, Boosting Series A Deals with Domestic Capital
A company called IvyCap Ventures, which invests money in new businesses, is now looking to put its money into advanced technology like robots, space technology, and new kinds of artificial intelligence.
They are using money from their third fund, which is about $250 million, all from Indian sources.
They plan to help about 8 to 10 new companies get started at the 'Series A' stage by early 2026.
They will give each company about 50 crore rupees, but sometimes less or more.
IvyCap looks for smart founders who have a clear idea to solve a big problem and can use money wisely.
They are happy that more Indian investors and government money are available to help startups.
However, they also notice that there isn't enough big money for companies that are growing a lot, especially when foreign investors pull back.
IvyCap Ventures is focusing its investments on deeptech sectors including robotics, IoT, spacetech, defence tech, biotech, and advanced AI models.
The firm is currently investing from its third fund, a $250 million corpus raised entirely from domestic investors.
IvyCap plans to make 8-10 more Series A investments by the end of FY26, with an average cheque size of Rs 50 crore.
Investment decisions are based on founder-market fit, clarity of the problem, and capital/operational efficiency.
IvyCap notes increased domestic capital and founder maturity but acknowledges a lack of later-stage funding (Series C/D) in India.
- Who
- IvyCap Ventures
- What
- Sharpening investment focus on deeptech and emerging technology sectors, planning 8-10 Series A investments by FY26, and leveraging increased domestic capital.
- When
- By the end of FY26, with current investments already deployed and more planned.
- Where
- India
- Why
- To capitalize on sectors poised to define the next wave of innovation and to support the growth of the Indian startup ecosystem amidst evolving funding landscapes.
Positive Outlook
Areas for Improvement
Availability of Capital
Positive Outlook
Increased visibility of domestic capital, including government-backed funds and experienced family offices, strengthens the funding pipeline for Indian startups.
Areas for Improvement
India still lacks sufficient Series C and D funding depth, making the ecosystem vulnerable when global macro conditions cause foreign investors to withdraw.
Founder Maturity
Positive Outlook
Founders are maturing, with many building second or third ventures, which creates more predictability and confidence for investors.
Areas for Improvement
The reliance on dollar-driven capital historically makes the ecosystem susceptible to global market swings.
- Fund III Corpus
- $250 million (Rs 2,100 crore)
- Targeted Sectors
- Robotics, IoT, Spacetech, Defence Tech, Biotech, Agentic AI, Native AI
- Planned Series A Investments
- 8-10 by end of FY26
- Average Cheque Size
- Rs 50 crore
- Investment Range
- Rs 3-4 crore to Rs 100 crore
- Investment Criteria
- Founder-market fit, clarity of problem, capital and operational efficiency
- Government RDI Fund
- Rs 1,00,000 crore