Speciale Invest, a venture capital firm, has closed its third fund at INR 6 billion, surpassing an initial target of INR 5 billion. The firm plans to make 18–20 investments over the next four years in areas that include space, advanced manufacturing, energy, health, and artificial intelligence.
The firm said Fund III will focus on early-stage investments in hardware and science-based startups, sectors that typically require longer development cycles and more capital for productisation. “We believe the next generation of global champions will emerge from India’s labs, R&D centres, and workshops,” said Vishesh Rajaram, managing partner, Speciale Invest.
Speciale Invest said Fund III will specifically target spacetech, dual-use defence innovation, frontier computing (including quantum and advanced compute), and sustainable energy. The vehicle is reported to be backed by returning limited partners, including family offices, institutional investors, and strategic partners.
Since raising its first fund of INR 600 million in 2017, Speciale Invest has backed companies such as Agnikul Cosmos, The ePlane Company, GalaxEye, QNu Labs, and Fermbox, among others, and has supported portfolio firms on regulatory navigation, global certification, and entry into dual-use markets.
Speciale Invest is a Chennai-based venture capital firm that focuses on early-stage investments in deep-technology companies, including ventures across quantum cybersecurity, synthetic biology, advanced manufacturing, and clean energy. The firm said a significant portion of Fund III will be reserved for follow-on support to high-potential portfolio companies.
