Generalist VCs in India bet big on deep-tech, innovation-driven companies

Deep-tech now forms over half of VC portfolios in India as firms like Cornerstone, Unicorn India Ventures and All in Capital back startups combining research with scalable models

Deeptech is no longer a niche bet for investors as it now commands more than 50 per cent of the portfolio of several generalist venture capital (VC) firms in India.

 

Signalling a shift in the investment landscape from consumer-first bets to technology-driven companies, VCs are increasingly backing startups that combine research-led innovation with scalable business models.

 

Cornerstone Ventures, which made its first deeptech investment in 2019, has made four such investments in 2024 and expects to back five more this year.

 

“In our Fund-I, at least 60-70 per cent companies were either purely deeptech or were leveraging new-age core technologies