Bluehill.VC marks final close of debut frontier-tech fund at Rs 400 crore
The venture capital firm has already deployed more than Rs 100 crore across seven startups, including EtherealX and Zebu Intelligent Systems.
Venture capital firm Bluehill.VC has marked the final close of its first frontier-technology focused fund, securing Rs 400 crore, including a Rs 50 crore greenshoe option.
The fund has attracted commitments from investors including SIDBI, the governments of Kerala and Uttar Pradesh, family offices, startup founders, and ultra-high-net-worth individuals (UHNIs) from India and the Middle East.
Bluehill.VC intends to invest in startups developing deep-tech innovations across sectors such as defence, semiconductors, space technology, energy, advanced materials, manufacturing, robotics, water management, electric vehicles, nuclear technology, and the Internet of Things (IoT).
The fund aims to build a portfolio of around 15 to 16 companies, with initial investments typically ranging between $1 million and $2 million from the seed to Series A stages.
The venture capital firm has already deployed more than Rs 100 crore across seven startups, including EtherealX, Zebu Intelligent Systems, Helex, Sophrosyne Technologies, and optoML.
Over the next six months, it plans to invest an additional Rs 80 crore in companies building proprietary technologies.
Established in 2024 by Manu Iyer and Sridhar Parthasarathy, the venture capital firm is also preparing to launch its next fund in 2027.