Celesta Capital, a San Francisco-based venture capital firm, is set to launch an India-focused deeptech fund with a target corpus of ₹2,000 crore. The fund aims to support early-stage deeptech startups, particularly at Series A and B stages, with an average ticket size expected between $3 million to $7 million. Celesta Capital has initiated talks with limited partners to secure funding for the Category II AIF, which has obtained SEBI’s approval.
Celesta Capital’s diverse investment portfolio spans across countries like the US, Israel, the UK, India, and China, including notable Indian startups such as ideaForge, Agnikul, and 5C Network. With a track record of over 100 investments and assets worth $1.1 billion, the firm’s foray into the Indian deeptech ecosystem underscores the sector’s growing prominence.
As a key member of the India Deep Tech Alliance (IDTA), Celesta Capital envisions significant investments in deeptech segments over the next decade, spanning areas like semiconductors, spacetech, AI, and biotech. The alliance, comprising prominent venture firms like Accel and Blume Ventures, aims to infuse over $1 billion into India’s deeptech landscape, signaling a broader trend of increased tech investment in the country.
Source: Inc42 Media