BYT Capital, founded by early-stage investor Amit Chand, launched an Rs 180 crore deep-tech-focused fund on Thursday, and the firm expects to close it by Q3 2026.
Moreover, Chand said that the fund has already crossed 50% subscription. Out of the Rs 180 crore, the firm has created a green shoe option of Rs 80 crore, and if investor interest continues to grow, it may increase the total corpus by an additional Rs 30–Rs 40 crore.
The fund plans to deploy capital across 18–20 deep-tech ventures, issuing cheques of Rs 3 crore to Rs 6 crore for early-stage rounds, ranging from pre-seed to Series A.
Furthermore, BYT Capital intends to back companies that fall between Technology Readiness Level (TRL) 3 and TRL 7, ensuring that the core science behind their products is already validated. TRL 3 indicates that startups have confirmed scientific feasibility and are ready for deeper development, while TRL 7 means that they have demonstrated a system prototype in a real operational environment.
The firm can deploy up to Rs 15 crore in follow-on rounds and has earmarked 55% of the total fund for additional capital infusion into promising portfolio companies.
At present, the firm’s limited partner base consists of domestic ultra-high-net-worth individuals, HNIs, and family offices.
Additionally, BYT Capital will prioritize startups working in space-tech and aerospace, defence technology, clean and alternative energy, AI for science and drug discovery, synthetic biology and life sciences, quantum technology, and photonics. Chand noted, “As of now, our current focus lies in these sectors, but over a period of the next two years, you might see a lot of other technology evolve. That’s the beauty of deep tech. You can’t channel everything into one technology. So we will keep researching these sectors, which are up and coming.”
The VC firm is finalizing its first set of cheques and is holding late-stage discussions with a space-tech company, a drug discovery venture, a clean-energy firm, and a robotics startup. Chand chose not to reveal the names since discussions are still underway.
For exits, BYT Capital plans a straightforward strategy—retain equity and seek exits around Series D or Series E. Chand expects that in the next four to five years, several deep-tech companies will pursue IPOs, thereby strengthening the broader ecosystem.
Chand has backed early-stage deep-tech startups for more than six years as an angel investor. His portfolio includes electric bike maker Ultraviolette Automotive, climate-tech startup Uranus Labs, and energy storage venture The Energy Company.
He has recorded notable exits as well. He exited battery-swapping firm Battery Smart in 2021 with a 25X return, and he secured a partial exit from defence-tech venture Big Bang Boom Solutions, generating a 2.5X return.
