Chennai-based venture capital firm Speciale Invest has successfully closed its third fund at ₹600 crore, surpassing its initial target of ₹500 crore. Fund III will focus on investing in sovereign technology and globally scalable intellectual property originating from India.
Key Highlights
- Speciale Invest closes its oversubscribed ₹600 crore Fund III, exceeding ₹500 crore target for deeptech startups.
- The fund will back 18-20 early deep-tech startups, with over 50% of capital reserved for follow-on investments.
The firm aims to support 18–20 early-stage deeptech startups across high-potential sectors such as AI infrastructure, spacetech, climatetech, quantum systems, advanced manufacturing, and dual-use defence technology. Initial investments will typically range between ₹7 crore and ₹10 crore, with scope for larger commitments. Approximately ₹300 crore has been earmarked for follow-on funding to strengthen portfolio companies.
Over half of Fund III’s capital was contributed by repeat Limited Partners, with participation also coming from new institutional investors and corporate venture capital arms. Speciale will maintain its strategy of investing in pre-seed “zero to one” ventures, helping them grow from concept to market.
Also Read: Nuuk Secures $2 Mn Investment from Vertex Ventures SEA and Good Capital
Its current portfolio includes prominent names such as Agnikul Cosmos, GalaxEye, ePlane Company, Ultraviolette, CynLr, and QNu Labs. With nine successful M&A exits so far, the firm plans to raise its average equity stake to 15% in Fund III, compared to 5% in its first fund and 10% in the second, while continuing to back global-first, IP-rich deeptech startups.
