ValleyNXT Ventures, a prominent venture capital firm, has launched a new fund aimed at nurturing deeptech startups in various cutting-edge fields. With a target corpus of ₹200 Cr and a greenshoe option of ₹200 Cr, the Bharat Breakthrough Fund-I is set to propel innovation in sectors such as spacetech, defense tech, robotics, AI/ML, cybersecurity, biotech, sustainability, and consumer innovation.
The fund plans to provide substantial support to startups, intending to invest ₹100 Cr to ₹120 Cr in 25-30 early-stage ventures initially, followed by additional investments in a select few. Notably, each startup will undergo a rigorous nine-month accelerator program, emphasizing mentorship, investment, and networking opportunities.
ValleyNXT Ventures boasts a strong lineup of industry veterans, including Anvita Varshney, Arun Kanodiya, Rahul Garg, and Sandeep Aggarwal, who will serve as mentors for the accelerator program. The firm, established in 2021, has already made significant investments in startups like Cloudworx Studio, The Theatre Project, and Swaaha.
This initiative aligns with the government’s push to foster technological innovation and entrepreneurship, as the deeptech sector continues to gain traction and investment.
Source: Inc42 Media