Leading Global and Indian Investors Launch India Deep Tech Investment Alliance
A coalition of venture capital and private equity firms from the
U.S. and India today announced the
formation of the India Deep Tech Investment Alliance (IDTA), a new industry
group to mobilize private capital and expertise for deep tech companies
in India that will strengthen U.S.
- India deep tech collaboration.
Founding IDTA members include Celesta Capital, Accel, Blume Ventures, Gaja
Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture
Catalysts.
The
IDTA's mission is to accelerate entrepreneurship and ecosystem development
within key technology sectors throughout the India -
U.S. corridor, aligning with the TRUST (Transforming the Relationship Utilizing
Strategic Technology) initiative that was announced by President Trump and
Prime Minister Modi in February this year. The IDTA launch builds on the
momentum of the recent approval by the Union Cabinet of the Government of India's Research, Development, and Innovation (RDI)
Scheme which will direct a corpus of ₹1,00,000 crore to scale R&D and
innovation in strategic sectors within India.
IDTA
members have committed to make long‑term, thesis‑driven investments in Indian‑incorporated
startups and scale‑ups operating across semiconductors, space, quantum,
robotics, artificial intelligence, biotech, medical devices, energy and
climate, and the digital economy.
"Deep tech represents the next frontier of global innovation
and we expect great companies to emerge and lead in this space from the U.S.-India corridor," said Sriram Viswanathan, Founding Managing Partner at Celesta
Capital. "With the catalytic support mobilized under the RDI Scheme, this
is a historic opportunity to deepen U.S. - India partnership
and power the next wave of transformative global companies and unlock growth
opportunities that will benefit both India and
the U.S."
TK
Kurien, Premji Invest CEO said: "At Premji Invest, we believe India's deep tech ecosystem will define the next
wave of strategic innovation, if nurtured appropriately. We are excited to
collaborate with the Indian government in achieving its aim of scaling up
research, development, and innovation in strategic and sunrise domains. We will
bring our investment expertise and intend to invest our risk capital over the
next 7-10 years in backing innovative companies in these sectors of strategic
national importance. Together with government funding under the RDI scheme, we
are confident of creating a globally competitive ecosystem in these critical
areas."
Anand Daniel, Partner at Accel said: "We're structurally bullish on India's deep-tech founders. Over the next decade,
startups will build in India and
export breakthrough solutions to the world. The tailwinds are in place:
ambition, talent, policy intent, and patient capital. At Accel, we're excited
and humbled to partner with exceptional teams and support the long arcs of
R&D needed to build world-class companies."
Dr. Apoorva Rajan Sharma, Managing Director at General
Catalysts said: "Semiconductors, deep tech, and AI are India's chance to script the next IT
revolution—one that can create millions of jobs at home and open global
opportunities. With 3,600+ startups making India the
world's 6th largest deep tech hub, 74% of them AI-led, and the government
committing ₹20,000 crore alongside new semiconductor projects under the India
Semiconductor Mission, the momentum is undeniable. India is moving from consumer to creator, with
talent, policy and public"private partnerships placing the country on track
to lead the next wave of deep tech and AI innovation—shaping not just chips and
code, but the future of work and national competitiveness."
IDTA
will be governed by an Advisory Committee of members to facilitate shared
objectives and coordination, while preserving member independence over
individual funds, strategies, and investments. Celesta Capital Managing Partner
and former CEO of KPMG India Arun Kumar will serve as the inaugural IDTA Chair.
Other members of the Advisory Committee will include representatives from
Accel, Premji Invest, and Venture Catalysts.
Leave A Comment