888VC Launches ₹175 Cr AIF to Boost Deeptech, AI, and Sustainability Startups
888VC, a pioneering venture capital firm, has launched its maiden alternate investment fund (AIF) worth ₹175 Cr (around $19 Mn) to foster young startups in deeptech, AI, and sustainability sectors. Registered with the Securities and Exchange Board of India (SEBI) as a Category I AIF in February 2025, the fund aims to capitalise on the growing interest in advanced hardware and technology startups.
The fund, named 888VC Accelerator Fund, comes at a time when the Union Cabinet has approved a ₹1 Lakh Cr research, development, and innovation (RDI) scheme to support advanced tech development. According to Inc42's Indian Tech Startup Funding Report (H1 2025), advanced hardware and technology startups raised $311 Mn across 43 deals in the first half of this year, indicating a robust ecosystem.
Founded in 2022 by Rohit Bafna, former vice president at 100Unicorn, 888VC has already invested $12 Mn across 20 startups, with its portfolio now valued at over $500 Mn. The firm plans to invest in the range of ₹2 Cr to ₹4 Cr per startup over the next three years. This aligns with the India Deep Tech Alliance's (IDTA) commitment to pledge $1 Bn over the next decade to nurture deeptech ventures.
The fund launch also follows a trend of multiple firms and investor groups providing funds for Deeptech. Recent months have seen the German Ministry-backed DeepTech & Climate Fonds (DTCF), High-Tech Gründerfonds (HTGF), Bayern Kapital, Max Planck Foundation, CDP Venture Capital, and Vanagon Ventures setting up Deeptech-focused funds. Similarly, Speciale Invest closed its third fund at ₹600 Cr, and Yali Capital raised ₹893 Cr for its maiden deeptech-focused fund.
With the launch of its maiden AIF, 888VC is set to play a significant role in identifying and nurturing promising startups in deeptech, AI, and sustainability sectors. The fund's investment strategy and the supportive ecosystem bode well for the growth of advanced technology ventures in India.
