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IIT Madras to launch Rs 200 crore VC Fund, target next-gen unicorns

IIT Madras announces the launch of a Rs 200 crore VC fund to nurture startups and target next-gen unicorns. The fund will focus on Series-A and pre-Series A investments in IITM-incubated companies Shine Jacob Chennai Listen to This Article Indian Institute of Technology Madras (IIT Madras) is set to catalyse the launch of a Rs 200 crore Venture Capital fund, called the IIT Alumni Fund, targeting the next generation of unicorns. With the number of startups emerging from IIT Madras increasing exponentially in recent years, the institute anticipates several more unicorns in the future and seeks to nurture these startups through careful investments that will help them scale. The IITM Alumni Fund will focus on Series-A and pre-Series-A investments. It will be a legally separate entity from the institute, created to focus on the growth of IITM