Kanpur : Dhanavritti Ventures, the venture capital fund sponsored by IIT Kanpur and its alumni, today announced receipt of formal registration as a Category I Alternative Investment Fund (AIF) from the Securities and Exchange Board of India (SEBI). This milestone makes Dhanavritti Ventures one of the first SEBI-registered VC funds in India to be directly sponsored by an IIT, and the first of its kind in Uttar Pradesh.
The fund is designed to invest in deep-technology startups emerging from IIT Kanpur’s research ecosystem, with a particular focus on companies in advanced engineering materials, defense technology, life sciences, artificial intelligence, and climate technology. Dhanavritti Ventures will provide early-stage capital, hands-on operational support, and direct access to IIT Kanpur’s world-class research infrastructure, faculty expertise, and alumni network.
The SEBI registration follows a multi-year effort to build a credible, institutionally-governed investment vehicle that bridges the gap between IIT Kanpur’s research excellence and the commercial marketplace. The fund will be managed by a professional investment team and governed by an independent Investment Committee, with investment decisions grounded in rigorous technical and market due diligence.
“This SEBI approval is the culmination of years of work to create something that has never existed before in Uttar Pradesh — a venture fund with the full institutional backing of IIT Kanpur, governed to the highest regulatory standard, and built specifically to back the kind of deep-technology founders that our institute produces. Dhanavritti Ventures is not just a fund. It is IIT Kanpur’s commitment to ensuring that the best research from this campus reaches the market, creates jobs, and builds companies that put Kanpur and UP on the national and global innovation map. As an alumnus of this institution, this is deeply personal to me — and I am proud that we have built something worthy of the IIT Kanpur name.” said Anurag Singh, Managing Partner, Dhanavritti Ventures & IIT Kanpur Alumnus.
The fund’s investment thesis is anchored in the belief that India’s next generation of globally competitive companies will be built on proprietary technology. IIT Kanpur, with its decades of research leadership and a 45,000-strong alumni network across industry and government, is uniquely positioned to identify, back, and accelerate those companies from inception.
The fund will work in close partnership with IIT Kanpur’s innovation and incubation infrastructure — to identify and support the most promising deep-technology ventures emerging from the campus and the broader Kanpur ecosystem.
Speaking on the occasion, Prof. Manindra Agrawal, Director, IIT Kanpur, said “IIT Kanpur has always been an institution of firsts. The registration of Dhanavritti Ventures as a SEBI-approved AIF is another such milestone — and one that reflects the institute’s evolving mission. Great universities do not just create knowledge. They translate that knowledge into solutions that improve lives and grow economies. The Kanpur and UP startup ecosystem has enormous untapped potential, and Dhanavritti Ventures gives us a structured, professional vehicle to unlock it. I am confident that this fund will not only generate strong returns for its investors but will contribute to making Uttar Pradesh a leading destination for deep-technology entrepreneurship in India.”
“Uttar Pradesh is on a determined path to becoming a $1 trillion economy. That ambition will only be realised if we build a robust foundation in deep technology, innovation, and high-value job creation. The SEBI registration of Dhanavritti Ventures is precisely the kind of institutional development our state needs — a professionally governed, IIT-backed fund that will attract serious capital, back serious technology, and create serious companies right here in UP. The fund’s focus on Kanpur is particularly significant. Kanpur has the industrial heritage, the academic excellence of IIT Kanpur, and the geographic position to become a national hub for deep-technology entrepreneurship. We welcome Dhanavritti Ventures as a partner in UP’s growth story and look forward to seeing the companies it backs contribute to the state’s transformation.” said Alok Kumar (IAS), Principal Secretary — IT & Electronics and Planning & Programme Implementation, Government of Uttar Pradesh; Nodal Officer — $1 Trillion Economy Initiative and Zero Poverty UP Campaign.
The approval is expected to catalyse a broader ecosystem effect across Kanpur and Uttar Pradesh. By anchoring institutional capital at the source of research and talent, the campus, Dhanavritti Ventures creates a flywheel: research generates startups, startups receive capital and structured support, and successful companies reinvest talent, capital, and expertise back into the ecosystem. The fund’s geographic focus on Uttar Pradesh is deliberate, recognising that the state with over 240 million people, a growing industrial base, and significant investment in infrastructure, represents one of India’s largest and most underleveraged opportunities for technology-driven growth.