Bluehill.VC, a frontier-tech-focused venture capital firm based in Chennai, announced the final close of its maiden Rs 400 crore fund, including the full subscription of its Rs 50 crore greenshoe option on Thursday.
A greenshoe option is an option that allows a fund to raise more money than its original target, if there is enough investor demand.
In a statement, the firm said that the fund has attracted strong participation from institutional investors including SIDBI, the Governments of Kerala and Uttar Pradesh, alongside family offices, accomplished entrepreneurs, and UHNIs from India and the Middle East.
The firm plans to deploy Rs 80 crore over the next six months.
Bluehill.VC invests from Seed to Series A in startups building proprietary technologies across Energy, EVs, Nuclear, Semiconductors, Advanced Materials, Defence, Space, Water, Manufacturing, Robotics, Industrial Technologies and IoT.
