Bluehill.vc, a Chennai-based venture capital firm focused on deeptech startups, has completed the final close of its maiden fund at ₹400 crore, the company announced on Thursday. The firm fully exercised its ₹50 crore greenshoe option to reach the final cap. Bluehill.vc plans to invest between $1 million and $2 million per company, targeting a portfolio of 15 to 16 early-stage startups.
The fundraise process culminated with the final close after the greenshoe option was exercised, indicating strong investor interest. So far, Bluehill.vc has invested ₹106 crore across seven companies and intends to deploy an additional ₹80 crore over the next six months. The firm aims to back startups working on frontier technologies in sectors such as AI, semiconductors, and advanced materials, according to livemint.com.
This fundraise adds to the growing capital flow into India's deeptech sector, which has seen increased investor focus amid rising demand for innovation in hardware and complex software solutions. Bluehill.vc’s ₹400 crore fund is among the larger maiden funds dedicated to deeptech in India, positioning it alongside other specialized investors targeting early-stage companies in this space. The firm’s strategy of writing $1-2 million cheques aligns with typical early-stage investment sizes in the sector.
Bluehill.vc’s final close at ₹400 crore was announced on August 13, 2026, marking a significant milestone for the firm as it prepares to expand its portfolio. The firm’s next six months will see active deployment of ₹80 crore across new investments, supporting the growth of India’s deeptech startup ecosystem.