New Delhi, Aug. 13 -- Bluehill.vc, a new Chennai-based deeptech venture capital firm, has completed the final close of its maiden fund at Rs.400 crore, it announced on Thursday.

The firm fully exercised its Rs.50 crore greenshoe option to reach the final cap. With the fund now closed, Bluehill.vc plans to write cheques ranging from $1 million to $2 million with the aim of building a portfolio of 15 to 16 early-stage companies.

Bluehill's announcement comes as deeptech becomes a top priority for Indian venture capitalists. However, investors are becoming far more selective. Rather than writing small checks across many early-stage startups, VCs are concentrating larger sums into fewer, high-conviction companies. As a result, total funding...