BYT Capital launches Rs 180 Cr deep-tech focused fund
The fund will look to deploy capital across 18-20 deep-tech startups with an average cheque size of between Rs 3 crore and Rs 6 crore.
BYT Capital, founded by early-stage investor Amit Chand, on Thursday launched a Rs 180 crore deep-tech focused fund that is expected to be closed by Q3 2026.
The fund has already been subscribed by more than 50%, Chand told YourStory. Out of the Rs 180 crore, Rs 80 crore is a green shoe option. If the firm sees additional demand, the fund might raise an additional Rs 30-Rs 40 crore.
The fund will look to deploy capital across 18-20 deep-tech companies with cheque sizes ranging from Rs 3 crore to Rs 6 crore in early-stage investments—pre-Seed to Series A.
BYT is looking to invest in companies that are in between Technology Readiness Level (TRL) 3 to TRL 7. This ensures that the core science behind the company’s products is validated.
TRL 3 means that the company has been able to confirm that its technology is scientifically feasible and is ready to proceed to more advanced development and integration stages. TRL 7 means that a system prototype has been demonstrated in an operational environment.
The firm can do a follow-on investment of up to Rs 15 crore and has allocated 55% of the total corpus towards pumping additional capital into portfolio winners.
Currently, the firm’s limited partner base consists of domestic ultra high net worth individuals, high net worth individuals (HNIs), and family offices.
BYT Capital will focus on startups developing in space-tech and aerospace, defence technology, clean and alternative energy, artificial intelligence for science and drug discovery, synthetic biology and life sciences, quantum technology, and photonics.
“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,” Chand noted.
The VC firm is in the final stages of closing its initial cheques and is in late-stage discussions with a space-tech company, a drug discovery startup, a clean energy company, and a robotic firm. Chand did not disclose the names of these companies as the parties are still in discussions.
BYT Capital’s exit strategy is simple—hold stake and look to exit by Series D or Series E. In the next four or five years, Chand said, the ecosystem will see a number of deep-tech startups going into IPO. This is expected to help boost the ecosystem.
Chand has been investing in early-stage deep-tech startups for over six years as an angel investor. Some of his portfolio companies include electric bike-maker Ultraviolette Automotive, climate-tech firm Uranus Labs, and energy storage firm The Energy Company.
He’s also had notable exits from battery swapping firm Battery Smart in 2021. He recorded a 25X return for his investment in the company. He’s also had a partial exit from defence tech startup Big Bang Boom Solutions, which saw 2.5X returns.
Edited by Jyoti Narayan