Antariksh Venture Capital Fund — ₹1,600 Crore Space-Tech Fund Anchored by IN-SPACe
The Government's venture fund for space
The Union Budget 2024 announced a ₹1,000 crore venture fund for the space sector. It became the Antariksh Venture Capital Fund, SIDBI Venture Capital's twelfth fund, registered with SEBI as a Category II AIF in October 2025 with IN-SPACe as anchor investor for ₹1,000 crore. The fund achieved its first close at ₹1,005 crore in November 2025 and targets ₹1,600 crore, seeking the balance from domestic and global institutions under a green-shoe option.
Its mandate runs across the private space value chain — launch systems, satellites and payloads, in-space services, ground stations, earth observation, communications and downstream applications — at early and growth stage. The first investment, ₹60 crore into Hyderabad's Dhruva Space, was made in July 2026. Tenure is ten years.
What the fund offers
| Item | Position |
|---|---|
| Instrument | Privately negotiated equity, convertible instruments and other permissible securities in unlisted Indian space companies |
| Ticket | Varies by stage; the first deal was ₹60 crore |
| Stage | Early and growth; technology at TRL 4 or above |
| Beyond capital | IN-SPACe's ecosystem — authorisation support, ISRO facilities, government demand |
SVCL's investment committee
SIDBI Venture Capital manages the fund and its investment committee decides each deal. IN-SPACe, as anchor, sits on governance but does not select portfolio companies.
Indian space companies, TRL 4 and above
- •Indian company operating in the space sector, across the private space value chain
- •Technology Readiness Level of 4 or higher — a validated component or system, not a concept
- •Investment-ready with a credible commercial plan; IN-SPACe authorisation where the activity needs it
- •Unlisted; DPIIT recognition typical for startups though not a fund condition
The data room SVCL expects
- •Certificate of Incorporation, MoA/AoA, cap table, prior investment agreements
- •Audited financials for all years; management accounts; five-year model
- •Technical dossier: TRL evidence, test campaigns, flight heritage if any
- •IN-SPACe authorisation or application status; export-control and licensing position
- •Customer contracts, LOIs and pipeline — including government or ISRO demand
- •Valuation report; use-of-funds plan
- •IP register; team CVs; statutory compliance
Questions founders ask about Antariksh
No. It is venture capital on commercial terms from a SEBI-registered fund. The Government's role is as anchor investor.
Yes, if the technology is at TRL 4 or above and the plan is credible. Revenue is not the test; readiness and market are.
Through the application form on SIDBI Venture Capital's Antariksh page. Expect standard venture diligence.
It helps the technical case — IN-SPACe has already vetted the technology — but the investment decision is SVCL's own.