Eight leading venture capital and private equity firms from the U.S. and India have formed the India Deep Tech Investment Alliance, pledging over $1 billion in private capital over the next decade to support Indian deep tech startups and strengthen bilateral tech ties. It is chaired by my friend Arun Kumar. Kumar and I met when he was on the board of the U.S. India Business Council more than 15 years ago and lived in Los Altos Hills, CA; later he took on a top role with the U.S. Commerce Department leading the Foreign and Commercial Service and also became head of one of the largest consulting firms in India. He is now at Celesta Capital. I visited Celesta’s Bangalore office a couple of years ago and their investments were focused on transformational companies rooted in technology.
Unprecedented Collaboration
- Unlike typical VC competition, this alliance represents a formal, coordinated effort with binding commitments.
- Members include:
- Celesta Capital, Silicon Valley, with Bangalore office
- Accel Ventures, Silicon Valley, California
- Blume Ventures. Mumbai, India
- Gaja Capital, Mumbai, India
- Ideaspring Capital, Bangalore, India
- Premji Invest, Bangalore, India. Related to Azim Premji of Wipro
- Tenacity Ventures, Silicon Valley, California with a Mumbai office
- Venture Catalysts. Mumbai, India
Arun Kumar, Managing Partner at Celesta Capital and inaugural chair of the alliance.
Investment Strategy
- Each firm will invest in India-domiciled deep tech startups over a 5–10 year period.
- The alliance aligns with India’s new approx. $11 billion Research, Development, and Innovation (RDI) scheme, which incentivizes local incorporation.
- Many Indian deep tech founders currently operate U.S.-based companies, but the new policy encourages domestic registration.
Beyond Capital
- Members will also provide mentorship and access to global networks.
- The alliance aims to help portfolio companies expand within India.
Strategic Alignment
“This is in line with the interests of both India and the U.S. at the governmental level, focusing on critical and emerging technologies,” said Arun Kumar, Managing Partner at Celesta Capital and inaugural chair of the alliance.
Last updated: December 26th, 2025
