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US and Indian VCs just formed a $1B+ alliance to fund India’s deep tech startups
Eight U.S. and Indian VC and PE giants are teaming up to fuel India's deep tech boom.
But relations soon showed strain, as Trump imposed a 50% tariff on Indian goods last month over New Delhi’s continued purchases of Russian oil, a move analysts say has put the two leaders on opposite sides of a widening trade and geopolitical rift. Despite those tensions, the alliance — notwithstanding the geopolitical rift between the two leaders — is betting on India as a hub for startups developing foundational technologies such as AI, semiconductors, space, quantum, robotics, biotech, energy, and climate tech. While the alliance does not set its own eligibility criteria for new members, Vishwanathan said participants must meet the Indian government’s conditions under the RDI scheme — including investing in “sunrise” sectors, backing India-domiciled startups, and securing local regulatory approvals.
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