Chennai | August 12, 2025 — Chennai-based venture capital firm Speciale Invest has announced the close of its third fund, Speciale Invest Fund III, at ₹600 crore, surpassing its original target of ₹500 crore. This marks a significant leap from Fund I’s ₹60 crore and Fund II’s ₹300 crore, reflecting growing investor confidence in India’s deeptech ecosystem.
Focus on Early-Stage Deeptech
Founded by Vishesh Rajaram and Arjun Rao, Speciale Invest plans to deploy Fund III into 18–20 early-stage deeptech startups over the next 3–4 years. The firm’s investment thesis prioritizes globally competitive innovations in:
- AI infrastructure and systems
- Spacetech
- Climate technology
- Quantum computing
- Advanced manufacturing
- Dual-use defense technologies
Initial cheques will range from ₹7–10 crore, with 50% of the fund earmarked for follow-on rounds to help portfolio companies scale beyond Series A.
Capital Backing with Strategic Depth
The fund’s Limited Partners (LPs) include repeat backers from earlier funds, new institutional investors, and corporate partners, underlining long-term commitment to sectors that require patient capital. Speciale Invest emphasizes building globally defensible intellectual property with strategic importance, especially for India’s sovereignty in key technologies.
India’s Deeptech Moment
With an increasing push towards self-reliance in critical tech, deeptech startups are poised to play a defining role in both commercial and national-interest domains. Speciale’s decade-long journey from a ₹60 crore debut fund to today’s ₹600 crore corpus mirrors the growth trajectory of the sector itself.
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