PanIIT and Andhra Pradesh Plan ₹500 Crore Deeptech Fund

4 Oct 2026, 10:04 am · 7h ago · 1 min read · YourStory

Amount

₹500 Cr

PanIIT Alumni India and the Andhra Pradesh government are setting up the ₹500-crore PanIIT Amaravati Venture Fund to back deeptech startups. Presented at the PanIIT Andhra Pradesh Summit in Vijayawada, the fund aims to achieve its first close by July 1, 2027, and invest in at least 25 state-based deeptech ventures by 2030. At least 50% of portfolio companies must locate principal R&D or manufacturing operations in Andhra Pradesh. Chief Minister N Chandrababu Naidu announced the state would match private capital contributions to foster local research, manufacturing, and tech entrepreneurship.