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Speciale Invest has launched a Rs 1,400 crore Growth Fund II to support Indian deeptech startups transitioning from validated technology to commercial scale. The fund aims to fill a funding gap by investing in 12-15 startups, with average cheque sizes between USD 5-8 million.

Focus sectors include spacetech, advanced manufacturing, energy storage, quantum computing, health and biosciences, and defence technologies. A portion of capital will be allocated to unmanned systems and maritime surveillance.

Vijay Jacob has been appointed as general partner to oversee growth-stage investments, prioritizing companies ready for capacity building and global expansion. The firm also recently closed its Rs 600 crore Fund III, exceeding its target, which focuses on early-stage investments in sovereign technologies and scalable intellectual property.