Speciale Invest Successfully Closes Fund III worth INR 600 Crores,)}{\r\nFocusing on Backing Deep-Tech and Sovereign-Tech Startups at Pre-Seed Stage, Thus Establishing Speciale as a Sizable Pre-seed Investor in India}

Speciale Invest Successfully Closes Fund III worth INR 600 Crores,)}{\r\nFocusing on Backing Deep-Tech and Sovereign-Tech Startups at Pre-Seed Stage, Thus Establishing Speciale as a Sizable Pre-seed Investor in India}

Speciale Invest, a leading venture capital firm, has announced the closure of its third fund, Speciale Invest Fund III, at INR 600 crore. The fund will focus on investing in early-stage deep-tech startups in India, aligning with the country's strategic autonomy and sovereign capabilities.

The fund will target approximately 18 to 20 pre-seed and seed-stage startups over four years, with a focus on sectors such as space technology, dual-use defence innovation, energy, semiconductors, advanced manufacturing, AI infrastructure, quantum systems, climatetech, healthtech, robotics, and defence technology. The aim is to back startups building critical technologies locally with globally scalable intellectual property and a strong founder-market fit.

Key Details

The investment ticket size for each startup will be between Rs 7 crore and Rs 10 crore, with half of the corpus reserved for follow-on investments. Speciale Invest will increase its average equity stakes in portfolio companies to about 15%.

The fund will prioritize startups contributing to India's strategic resilience in areas like space (including global navigation satellite systems), drones operable in GPS-denied environments, and robotics. It will also focus on startups that develop deep technologies from Indian labs, R&D centers, and workshops, aiming for global market impact.

Emphasis on Deep-Tech Sectors

Speciale Invest Fund III will double down on investments in sovereign-tech and deep-tech across sectors such as space technology, dual-use defense innovation, frontier computing, and sustainable energy. The firm has been an early backer of several Indian deep-tech startups since 2018, including Agnikul Cosmos, the ePlane Company, GalaxEye, QNu Labs, Fermbox, Inspecity, and Newtrace.

Arjun Rao, Partner at Speciale Invest, stated that deep-tech is one of the most exciting frontiers for venture capital in India. Vishesh Rajaram, Managing Partner of Speciale Invest, believes that the next generation of global champions will emerge from India's labs, R&D centers, and workshops. The firm positions itself as one of India's largest investors at the pre-seed stage in deep-tech.

The investments made by Fund III will be supported by returning limited partners, including family offices, institutions, and strategic investors. The fund will make investments over a period of five years, from 2025 to 2029.

Speciale Invest combines early-stage capital with technical and strategic support to help Indian startups compete globally. The firm focuses on five themes: energy transition and planetary health, advanced manufacturing, space technology, advanced software and computing, and biosciences.

The initial target for Speciale Invest's third fund was INR 500 crore, but the success of the fundraising process led to an increase in the target to INR 600 crore. The investments will be made in early-stage companies developing technologies in space, advanced manufacturing, energy, health, and artificial intelligence.

In conclusion, Speciale Invest Fund III prioritizes deep-tech sectors contributing to India's sovereign technological edge and global competitiveness, especially in space, advanced manufacturing, defence, AI, energy, semiconductors, quantum systems, climatetech, and healthtech. The fund is set to make a significant impact on India's deep-tech startup ecosystem.

[^1^]: Source: YourStory [^2^]: Source: Entrackr [^3^]: Source: Economic Times [^4^]: Source: Livemint [^5^]: Source: Business Standard

1. Speciale Invest Fund III will invest in approximately 18 to 20 pre-seed and seed-stage startups over four years, allocating funds between INR 7 crore to INR 10 crore per startup, with a focus on sectors such as space technology, dual-use defense innovation, energy, semiconductors, advanced manufacturing, AI infrastructure, quantum systems, climatetech, healthtech, robotics, and defence technology.
2. The investments by Speciale Invest Fund III will be supported by returning limited partners, including family offices, institutions, and strategic investors, and the fund will make investments over a period of five years, from 2025 to 2029.
3. To boost India's strategic resilience, Speciale Invest Fund III will prioritize startups in areas like space (including global navigation satellite systems), drones operable in GPS-denied environments, and robotics, and also focus on startups developing deep technologies from Indian labs, R&D centers, and workshops, aiming for global market impact.

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