India, Aug. 13 -- Early-stage VC firm Bluehill.VC has marked the final close of its maiden Rs.400 Cr frontier tech fund. The fund includes a greenshoe option of Rs.50 Cr.

The fund saw participation from SIDBI, state governments Kerala and Uttar Pradesh, alongside leading family offices, accomplished entrepreneurs and UHNIs from India and the Middle East.

The firm backs early-stage startups operating at the seed to Series A stages. The firm is focused on sectors like energy, EVs, nuclear technology, semiconductors, advanced materials, defence, space, water, manufacturing, robotics, industrial technologies and IoT.

With the fund, the VC is looking at building a concentrated portfolio of 15-16 companies with an average first cheque of $1-...