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8X ventures has closed its Rs 200 crore DeepTech Fund, with an additional Rs 100 crore greenshoe option.

The fund has secured commitments exceeding Rs 60 crore and plans to invest in 18-20 deeptech startups over the next three years, offering initial cheques ranging from Rs 2-5 crore each and total investments of up to Rs 20 crore each in 8-10 startups.

The fund focuses on sectors like WASH (Water, Sanitation, and Hygiene), Industry 4.0, Advanced Computing, BioTech, and B2B Enterprise SaaS, it said in the statement.

“Indian DeepTech offers a distinct opportunity. The companies emerging from this sector are poised to address fundamental global issues and generate substantial shareholder value. We foresee Indian startups in these sectors leading the world in the next few decades,” said Chirag Gupta, Managing Partner at 8X Ventures.

“We are investing in companies that pioneer their categories, introduce fundamentally new technologies, and, most importantly, demonstrate a robust, clear strategy to achieve commercial success,” he added.

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Established in 2021, 8X Ventures is a deeptech venture capital firm that invests in startups that transform industries and economies through a strong scientific and research foundation.

It has delivered a 2.1X MOIC (40+% IRR) since 2022, with portfolio companies including Solinas Integrity, D-Nome, Lightspeed Photonics, XYMA Analytics, Zenpulsar, and Pantherun Technologies.