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VC fund (Cat I) · SEBI registry

Bharat Seed Fund

Seed · Deep Tech (AI/ML/Robotics) · Ahmedabad

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At a glance

Stage focus
Seed
HQ / office
CIIE.CO Building, IIM Ahmedabad New Campus, Vastrapur, Ahmedabad, Gujarat
Fund registered
2022
Investments on record
6
Corpus (as reported)
Bharat Innovation Fund corpus ~USD 100M; Bharat Inclusion Seed Fund ~USD 7.5M first close (targeting ~USD 15M) (per public reporting)
LinkedIn
Profile ↗

About

Bharat Seed Fund is part of the 'Bharat Fund' family of early-stage venture funds managed by CIIE Advisors Private Limited / IIMA Ventures (formerly CIIE.CO), the startup incubator and seed investor at IIM Ahmedabad. Funds back tech-innovation and financial-inclusion startups for 'Bharat'.

Investment focus

Early-stage (seed / pre-Series A) venture; tech innovation and inclusion — deep-tech, fintech, financial inclusion, healthcare, edtech, agritech, livelihood/skilling.

Cheque size

Up to ~USD 4.5M for Bharat Innovation Fund (pre-Series A / Series A deep-tech); the Bharat Inclusion Seed Fund invests up to ~USD 1M at seed stage

As compiled from public sources — verify with the investor.

SEBI registration

SEBI AIF Category I — reported as “Cat I

  • IN/AIF1/22-23/1163

SIDBI Fund of Funds

Yes — Bharat Innovation Fund (the Bharat Fund / CIIE.CO platform) has secured a commitment from SIDBI's Fund of Funds among its LPs (alongside ICICI Lombard, SBI Life, RBL Bank, Federal Bank, etc.). Source: IIMA Ventures / Bharat Fund newsroom.

Notable portfolio

Kaleidofin; Setu; Riskcovry; GUVI; Virohan; Entitled

Team & organisation

Approx 11-50 (LinkedIn ~17 employees); led by a dedicated Board and Investment Team (Managing Partner Kunal Upadhyay; partners include Ashwin Raguraman)

SEBI-registered Category I AIF / Venture Capital Fund under the Bharat Fund (CIIE.CO) platform; manager/advisor entity CIIE Advisors Pvt Ltd (CIIE.CO). Multi-fund platform: Bharat Innovation Fund (deep-tech VC) and Bharat Inclusion Seed Fund (seed, co-managed with IIMA Ventures). HQ noted at IIM Ahmedabad new campus (CIIE.CO); also a Bengaluru office (RMZ Ecoworld).

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Frequently asked

What does Bharat Seed Fund invest in?
Early-stage (seed / pre-Series A) venture; tech innovation and inclusion — deep-tech, fintech, financial inclusion, healthcare, edtech, agritech, livelihood/skilling.
What cheque size does Bharat Seed Fund write?
As compiled from public sources: Up to ~USD 4.5M for Bharat Innovation Fund (pre-Series A / Series A deep-tech); the Bharat Inclusion Seed Fund invests up to ~USD 1M at seed stage
How do I pitch Bharat Seed Fund through iHub India?
Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.

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About this record

Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.

Sources: https://bharat.fund/innovation/index.html; https://iimaventures.com/newsroom/bharat-innovation-fund-iim-a-incubator-is-betting-big-on-deep-tech-startups/