Bluehill.VC closes maiden frontier tech fund at ₹400 Crore

Early-stage venture capital firm Bluehill.VC has completed the final close of its maiden fund at ₹400 Crore, with an additional ₹50 Crore greenshoe option. The fund is dedicated to investing in frontier technology startups.

Investors in the fund include SIDBI, the governments of Kerala and Uttar Pradesh, along with family offices, entrepreneurs, and high-net-worth individuals from India and the Middle East. This diverse investor base signals confidence in the firm's strategy and the Indian technology sector.

Bluehill.VC focuses on seed to Series A stage companies across sectors such as energy, EVs, nuclear technology, semiconductors, advanced materials, defense, space, water, manufacturing, robotics, industrial technologies, and IoT. The firm plans to build a concentrated portfolio of 15 to 16 companies, with an average initial cheque size of $1-2 million.

"Our ambition is simple – to help build companies from India that don’t just participate in global markets, but define them," said Manu Iyer, Managing Partner at Bluehill.VC. The firm intends to deploy ₹80 Crore over the next six months and is targeting the launch of its next fund in 2027. Founded in 2017, Bluehill.VC has already deployed over ₹100 Crore across seven portfolio companies.