India, Aug. 12 -- Deeptech-focussed VC firm Speciale Invest has announced the close of its third fund at INR 600 Cr (about $70 Mn). The oversubscribed fund initially had a primary corpus of INR 500 Cr.

The VC firm said that the fund's final close will be formalised by next month with the addition of a few strategic limited partners (LPs). The Fund III is backed by a "strong base" of returning LPs, including family offices, institutions, and strategic investors.

Speciale Invest said the Fund III will invest in 18 to 20 pre-seed and seed stage startups over the course of next four years with an average ticket size of INR 7 Cr to INR 10 Cr.

The fund will back ventures across sectors such as spacetech, advanced manufacturing, AI infrastruc...