ACIC-VGU Anchor Fund — ₹12L to ₹15L Co-Investment for DeepTech Startups — Frequently Asked Questions

The fund commits between ₹12 Lakh and ₹15 Lakh, and ₹15 Lakh is the standard amount. It can be reduced to ₹12 Lakh at the Investment Committee's discretion, such as when milestones are ambiguous or the cap table is complex. The fund usually participates in raises that fall between ₹15 Lakh and ₹50 Lakh.

Any Indian startup registered as a Private Limited Company or an LLP can apply. DPIIT recognition is preferred but not stated as a strict requirement. At least one founder must be an Indian citizen working full-time on the business, and the venture must operate in DeepTech or the Community-Based sector.

Yes. A signed term sheet from an eligible lead investor for an active raise is the trigger for this programme — the fund co-invests, it does not lead. An application without that signed term sheet cannot be taken forward.

Two categories. DeepTech covers areas including AI/ML, robotics, IoT, agritech, biotech, climatetech, drones, cleantech and spacetech. Community-Based covers sustainable solutions aimed at rural development, farmer livelihoods, women entrepreneurship, affordable healthcare, financial inclusion or the circular economy.

Yes, it is an equity-style investment. The fund co-invests on the same terms as your lead investor, which may be through equity shares or Compulsorily Convertible Debentures (CCDs). Either route ultimately results in an equity stake in your company.

Your lead investor's term sheet does. The Anchor Fund adopts the same pre-money valuation, share price and instrument type that the lead has set, so there is no separate valuation exercise or second round of price negotiation.

No. The eligibility guidelines state that a startup should preferably hold DPIIT recognition, which means it is treated as a preference rather than a hard rule. A company without DPIIT recognition can still apply, as long as the other conditions are met.

You will need your pitch deck, financial projections, company incorporation documents and — most importantly — the signed term sheet from your lead investor. Together with the completed online application form, these cover what the fund asks for at the application stage.

Applications go through the official online portal via the apply link. Once submitted, the ACIC-VGU team validates your term sheet and screens the application against the eligibility criteria. Shortlisted startups then undergo further due diligence and may meet the Investment Committee for final evaluation.

No. The ACIC-VGU Anchor Fund runs on a rolling, always-open basis, so there is no closing date to work towards. Because the fund closes alongside your main raise, the right time to apply is once your lead investor's term sheet is signed.

ACIC-VGU Anchor Fund — ₹12L to ₹15L Co-Investment for DeepTech Startups is offered by ACIC VGU Foundation, an academic institution. It is provided as an investment.