India's first venture fund built inside a startup-education ecosystem. ₹250 Crore dedicated to the highest-conviction founders emerging from the Ireu cohort — with access, mentorship, and institutional capital deployed by professionals, not generalists.
Important: The Ireu Startup Fund is not yet launched. This page is for expression of interest and pre-launch engagement only. Fund registration, final terms, and investor onboarding are subject to completion of SEBI AIF Category II registration formalities. Past performance of portfolio companies is not indicative of future returns. This is not a solicitation or offer to invest.
The Ireu Startup Fund is built on a structural advantage no external VC can replicate: 15 months of direct observation, mentorship, and co-creation with every portfolio company before any capital is deployed. We don't evaluate startups from a pitch deck. We build them.
Every cohort startup is observed through 5 trimesters — founder-market fit, team dynamics, pivot decisions, customer traction, and resilience in real time. By investment date, there are no surprises. Only conviction.
Cohort startups are mentored by IISc faculty, IIT Madras Nirmaan mentors, and IIT Bombay SINE alumni — deep-tech validation, research access, and a talent pipeline most early-stage funds cannot replicate.
Before the fund invests, portfolio companies have pitched live to investor audiences across four cities in four countries. Market feedback is real, international networks are warm, and global scaling conversations have already begun.
Managed by a CFA charter holder with deep experience in financial analysis, portfolio construction, and risk management. Decisions are structured, documented, and held to institutional-grade standards — not gut instinct.
A self-renewing, curated deal flow — each cohort produces 25 deeply evaluated startups across sectors. As Ireu scales to multiple annual cohorts, the opportunity set grows with no increase in sourcing cost.
Post-investment, companies remain inside the Ireu ecosystem — co-working, legal and CA support, government grant navigation, follow-on investor introductions, and the full mentor network. The fund doesn't just write cheques. It builds companies.
A SEBI-registered Alternative Investment Fund under Category II — the framework designed for venture and private-equity funds deploying patient capital into unlisted Indian companies. All LP interests, fund mechanics, and reporting obligations will comply fully with SEBI AIF Regulations 2012.
| Fund Category | SEBI AIF Category II | Investment Stage | Pre-Seed · Seed · Pre-Series A |
| Target Corpus | ₹250 Crore | Ticket Size (per co.) | ₹50L – ₹5 Crore (indicative) |
| Green Shoe | ₹50 Crore (optional) | Portfolio Target | 30–40 companies (indicative) |
| Fund Manager | CFA Charter Holder · SEBI-reg. IM | Fund Tenure | 7 years + 2-year extension |
| Domicile | India (Bengaluru) | Min. LP Commitment | ₹1 Cr (SEBI AIF norms) |
| Management Fee | 2% p.a. (indicative) | Carried Interest | 20% above hurdle (indicative) |
| Hurdle Rate | 8% IRR (indicative) | Status | Pre-Launch · EOI Open |
The fund does not chase sector trends. It follows the companies — selected through a rigorous process that prioritises market size, founder quality, and defensible differentiation.
Applied AI, machine-learning platforms, computer vision, NLP, and research-to-product ventures anchored in IISc and IIT Madras collaborations.
Lending infrastructure, embedded finance, wealth tech, neo-banking, and B2B fintech targeting India's underserved credit and insurance markets.
Next-generation learning platforms, vocational training, credentialing infrastructure, and international education access — aligned with Ireu's own ecosystem.
Commercial real estate intelligence, co-living infrastructure, fractional ownership platforms, and construction technology targeting India's ₹65T real estate market.
Direct-to-consumer brands with defensible unit economics, omnichannel distribution, and the supply-chain sophistication to scale nationally and internationally.
Clean energy, circular economy, agri-tech, and climate-adaptation startups targeting ESG-aligned institutional capital and global impact mandates.
The fund welcomes co-investment and LP participation from the full spectrum of institutional and accredited investors — from global venture funds seeking India exposure to family offices seeking differentiated early-stage access.
Domestic and global VC funds seeking co-investment rights, LP positions, or deal-by-deal syndication. Ireu offers first-look rights on cohort companies to registered LP funds.
International institutional investors, sovereign wealth funds, and global family offices seeking India venture allocation, with IISc/IIT Madras institutional anchoring rarely available early-stage.
Managers seeking uncorrelated early-stage India exposure. The AIF Category II structure provides clean regulatory treatment, standard LP economics, and SEBI-compliant reporting.
Impact-aligned venture allocation in India's innovation economy. The IISc ecosystem connection provides natural alignment for academic endowments exploring India exposure.
Indian and NRI family offices and SEBI-qualified HNIs seeking professional venture exposure without managing direct investments. Minimum commitment per SEBI AIF Category II norms.
CVC arms and strategic investors seeking deal-flow access, first-look rights, and innovation pipeline from India's fastest-growing startup-education ecosystem.
Every cohort produces 25 curated startups across five sectors — each vetted through our application process, mentored by IISc and IIT faculty, and presented at four global Demo Days before the fund considers deployment.
Managed by financial professionals with formal investment qualifications — not operators making the transition to VC. Rigorous, documented, institution-grade investment management from Day 1.
The CFA designation — the global gold standard — requires three levels of rigorous examinations across equity valuation, fixed income, derivatives, portfolio management, and ethics, plus four years of qualifying experience. Every decision is built on structured valuation models, comprehensive investment memos, and institutional portfolio-construction discipline.
IISc faculty, senior IIT alumni, domain-expert operators, and SEBI-registered financial professionals. Investment Committee approvals are required for all deployment decisions above defined thresholds.
The sponsor operates India's most intensive startup-education ecosystem at IISc and Manyata Tech Park. As the cohort operator, Ireu has 15 months of direct operational access to every portfolio company before any investment — the structural moat versus any blind-pool vehicle.
Ireu's finance-education vertical, powered by LVX Ventures faculty, produces investment-ready founders — a two-sided advantage: LPs get founders trained in financial literacy, and founders understand how institutional investors think.
No auction processes. Ireu sees its companies 15 months before any external investor — with full operational data, team assessment, and real market feedback in hand before any decision.
IISc faculty, IIT Madras mentors, and IIT Bombay SINE connections provide deep-tech validation most early-stage funds must outsource — a direct lift to portfolio quality in AI and deep tech.
Companies remain inside the ecosystem — co-working, Finance Desk, grant navigation, mentor network, and follow-on support. The "value add" is physical infrastructure already in place, not a slide.
By investment date, companies have pitched in Bangalore, Mumbai, Singapore and Dubai. International relationships are warm, not cold — and LPs get first-look at internationally tested companies.
Structured valuation analysis, formal investment memos, and Investment Committee review on every deal. LP reporting is institutional-grade — quarterly NAV, performance summaries, audited annual accounts.
The pipeline self-renews with every cohort. As Ireu scales from one to multiple annual cohorts, the opportunity set grows without increasing sourcing overhead — an advantage that compounds over the fund's tenure.
Registering an Expression of Interest does not constitute a commitment to invest. The fund is not yet launched. All investment decisions are subject to completion of SEBI registration and execution of binding subscription agreements.
Legal disclaimer: The Ireu Startup Fund is a proposed AIF Category II vehicle not yet launched or registered with SEBI. This page is for information and expression of interest only and is not a public offer, solicitation, or advertisement. All terms are indicative and subject to change. AIF Category II investment carries significant risk including potential loss of principal. Any decision should follow review of the PPM and advice from qualified financial and legal advisors. SEBI registration pending; this document has not been reviewed or approved by SEBI.
