Chennai-based venture capital firm Speciale Invest has announced the final close of its Fund III at ₹600 crore, surpassing its initial target of ₹500 crore. The fund will focus on sovereign technology and globally scalable intellectual property (IP) developed in India.
Speciale plans to invest in 18–20 early-stage deeptech startups across domains including AI infrastructure, spacetech, climatetech, quantum systems, advanced manufacturing, and dual-use defence technologies.
Investment Strategy:
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Initial cheques: ₹7 crore to ₹10 crore (with flexibility for larger amounts)
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Follow-on reserve: ~₹300 crore for subsequent rounds
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Target stake: ~15% in portfolio companies (up from 5% in Fund I and 10% in Fund II)
Over half of the capital for Fund III came from repeat Limited Partners, alongside participation from new institutions and corporate venture capital arms. Speciale will continue its focus on pre-seed “zero to one” startups.
The firm’s portfolio already features Agnikul Cosmos, GalaxEye, ePlane Company, Ultraviolette, CynLr, and QNu Labs, and it has achieved nine M&A exits to date.
Speciale remains committed to backing global-first Indian startups targeting international markets from day one, while maintaining a focus on scalable, defensible deeptech IP.
By: Arushi Agarwal
