IIT Madras Launches Rs 200 Crore Alumni Fund to Boost Deeptech Startups
IIT Madras has unveiled a Rs 200 crore venture capital fund, the 'IITM Alumni Fund', to boost early-stage startups, especially in the deeptech sector. The fund was announced at Sangam 2025, the institute's annual innovation and alumni summit, which attracted over 500 participants.
The fund aims to support pre-Series A and Series A investments, with a focus on ventures incubated within IIT Madras. Prof. Ashwin Mahalingam, Dean of Alumni and Corporate Relations, explained that the fund is designed to help scale innovations into global ventures. The institute has already incubated over 500 startups, collectively valued at over Rs 50,000 crore (approximately $6 billion). Typically, IIT Madras infuses up to Rs 5 crore per startup in exchange for equity.
The Indian government has also shown support, allocating $12 billion (Rs 1 lakh crore) to the Department of Science and Technology as a 'zero-interest 50-year loan' for emerging technologies. Furthermore, India's Minister of Commerce and Industry, Piyush Goyal, committed a second Rs 10,000 crore tranche to the government's Fund of Funds for deep-tech innovation. Most of the IITM Alumni Fund's capital is expected to come from IIT Madras alumni and high-net-worth individuals, with an initial target of Rs 200 crore.
The IITM Alumni Fund is set to play a significant role in fostering deeptech innovation in India. With the institute aiming to launch 100 deep-tech startups every year through its 'Startup Shatam' program, the fund's support will be crucial in helping these ventures grow and succeed.
