内容来源：https://techcrunch.com/2025/09/01/u-s-and-indian-vcs-just-formed-a-1b-alliance-to-fund-indias-deep-tech-startups/

内容总结：

八家美国和印度风险投资及私募股权机构——包括知名投资公司Accel、Blume Ventures、Celesta Capital和Premji Invest——近日联合成立"印度深度科技投资联盟"，承诺未来十年内向印度深度科技初创企业投入超10亿美元资金，以强化美印科技合作。该联盟的成立旨在解决印度深度科技领域长期面临的资金短缺问题。

今年4月，印度商业部长皮尤什·戈亚尔曾批评本土初创企业过度聚焦外卖配送而忽视技术创新，引发行业强烈反响。多位投资者和创业者指出，印度深度科技企业融资困难是制约创新的关键因素。新联盟的成立直接回应了这一痛点，通过汇聚长期私人资本助力本土深度科技发展。

该联盟突破传统投资模式，首次以具有约束力承诺的正式联盟形式出现。成员机构将通过联合投资、共享资源、提供导师服务等方式，重点支持人工智能、半导体、太空技术、量子计算等前沿领域的印度本土初创企业。此举与印度政府今年批准的1万亿卢比（约110亿美元）研发创新计划形成政策协同。

尽管近期美印贸易关系出现波折，但联盟成员仍看好印度作为新兴科技枢纽的潜力。Celesta Capital管理合伙人斯里拉姆·维什瓦纳坦表示："印度不仅是新创企业的沃土，也是美国科技企业拓展市场的重要目的地。"联盟将重点关注从种子轮到B轮的早期项目，首批承诺资金仅是长期投入的起点。

为确保有效运作，联盟设立由创始成员代表组成的咨询委员会，未来将实行轮值主席制度。分析师指出，这种新型投资联盟既能为印度深度科技注入活力和统一发声渠道，但也存在协调失灵的风险，需要持续关注其实际执行效果。

中文翻译：

八家美国和印度风险投资与私募股权公司——包括知名投资机构Accel、Blume Ventures、Celesta Capital和Premji Invest——组成了一个非常规联盟，承诺未来十年投入超10亿美元支持印度深度科技初创企业，以强化美印科技纽带。

该联盟直指长期存在的融资难题。今年四月，印度商业部长皮尤什·戈亚尔在以"印度对决中国：初创企业现实检验"为主题的演讲中，因指责本土初创企业只顾外卖配送而忽视技术创新，并将中印企业对比而引发争议。多位投资人与创始人反驳称，印度深度科技领域缺乏资金支持，并指出部长的言论忽视了立足本土市场创业者的决心。新联盟似乎正是为化解这些担忧而生，旨在将长期私人资本引入许多创始人口中在印度融资艰难的深度科技领域。

此举之所以非同寻常，是因为投资者通常倾向于竞争交易而非缔结具有约束力承诺的正式联盟。虽然风投机构常以单笔交易形式联合投资，但跨境合作大多通过各基金策略非正式推进，而非以协调一致的资本联盟形式运作。

这个名为"印度深度科技投资联盟"的组织于周二联合声明中宣布，成员包括Celesta Capital、Accel、Blume Ventures、Gaja Capital、Ideaspring Capital、Premji Invest、Tenacity Ventures和Venture Catalysts。该联盟的成立紧随印度政府批准1万亿卢比（约110亿美元）研发创新计划（RDI），该项旨在推动深度科技研发的计划于今年早些时候在国家预算中公布。

联盟成员表示，各机构将在5至10年内向注册于印度的深度科技初创企业投入私人资本。目前这类企业数量较少，因为许多印度创始人的知名深度科技项目均注册在美国。但新德里政府已规定新研发创新计划的激励政策仅限本土注册企业，而联盟成员正希望利用这一政策。

除资金支持外，成员还将提供导师指导和资源对接。各机构还计划通过联盟协助被投企业拓展印度市场。"这符合印美两国政府在关键与新兴技术领域的战略利益，"即将担任联盟首任主席的Celesta Capital管理合伙人阿伦·库马尔在接受采访时表示。

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尽管存在地缘政治复杂因素——今年二月特朗普与莫迪总理启动"TRUST"技术合作倡议后，双方因印度持续购买俄罗斯石油而出现贸易摩擦，上月美国更对印度商品加征50%关税——但联盟仍将印度视为人工智能、半导体、航天、量子技术、机器人、生物科技、能源与气候科技等基础技术领域的创业中心。

"印度不仅是本土新企业的机遇之地，也是美国企业寻求市场扩张的重要目标，"Celesta Capital创始管理合伙人斯里拉姆·维什瓦纳坦向TechCrunch表示。该机构作为航天科技企业Agnikul、无人机制造商IdeaForge及AI癌症诊断公司OneCell Diagnostics的早期投资者，在与行业相关方及印度政府磋商后牵头组建了此联盟。

维什瓦纳坦指出联盟将专注于从种子轮到B轮的早期初创企业，避开后期投资阶段。他透露10亿美元承诺仅是开端，"漫长征途始于第一步"，未来将有更多财务风投、私募股权公司及拥有重大投资计划的企业加入。虽然联盟不设额外会员标准，但参与者须符合印度政府RDI计划要求，包括投资"朝阳"产业、支持本土注册企业及通过当地监管审批。

"联盟本质是与政府沟通的平台，"维什瓦纳坦表示，成员计划集体与印度政府就政策激励措施进行磋商，以维护行业利益并形成统一发声渠道。历史上印度未经行业咨询的政策变动曾引发市场动荡，某些措施甚至招致美国投资者强烈抗议最终被迫撤回。

联盟成员将自愿共享信息，并在项目开发、尽职调查与联合投资机会方面协调行动。由Accel、Premji Invest和Venture Catalysts等创始成员代表组成的咨询委员会，将协助制定共同目标并确保协调运作，同时保持各基金独立性。库马尔强调首任主席职务将采用轮值机制。

对印度深度科技初创企业而言，这个联盟或是把双刃剑。虽然汇聚长期资本及统一发声渠道看似利好，但若协调不力也可能使优质企业陷入困境。Accel合伙人阿南德·丹尼尔在预置声明中表示："未来十年，初创企业将在印度构建突破性解决方案并输出全球。理想的风势已经具备：雄心、人才、政策意向与长期资本。"

英文来源：

Eight U.S. and Indian venture capital and private equity firms — including storied investors Accel, Blume Ventures, Celesta Capital, and Premji Invest — have formed an unusual coalition to back India’s deep tech startups, pledging more than $1 billion over the next decade to strengthen U.S.-India tech ties.
The alliance addresses longstanding funding concerns. In April, Indian Commerce Minister Piyush Goyal drew criticism after slamming domestic startups for focusing on food delivery instead of innovation, contrasting them with Chinese firms in a presentation titled “India vs. China: The Startup Reality Check.” Several investors and founders countered that India lacks capital for deep tech ventures and said Goyal’s comments overlooked the determination of founders building for the local market. The new alliance appears to address these concerns, aiming to channel long-term private capital into deep tech ventures that many founders say have struggled to secure funding in India.
The move stands out because investors typically compete for deals rather than formally band together under a named alliance with binding pledges. While VCs often co-invest on a deal-by-deal basis, most cross-border collaboration occurs informally through individual fund strategies, rather than through coordinated capital blocs.
Called the India Deep Tech Investment Alliance, the group brings together Celesta Capital, Accel, Blume Ventures, Gaja Capital, Ideaspring Capital, Premji Invest, Tenacity Ventures, and Venture Catalysts, the firms said in a joint statement on Tuesday. The launch follows the Indian government’s approval of a ₹1 trillion (approximately $11 billion) Research, Development, and Innovation (RDI) scheme, announced in the national budget earlier this year to boost deep tech R&D.
Under the alliance, each member will commit private capital over a 5- to 10-year period to Indian-domiciled deep tech startups, the firms said. For now, there are relatively few such companies, as many of India’s best-known deep tech ventures with Indian founders are incorporated in the U.S. But New Delhi has made local incorporation a requirement for incentives under its new RDI scheme, which the alliance members aim to leverage.
In addition to funding, the members will offer mentorship and network access. The firms also plan to utilize the alliance to help their portfolio companies expand into the Indian market.
“This is in line with the strategic interests of both India and the U.S. at the governmental level, focusing on critical and emerging technologies,” said Celesta Capital managing partner Arun Kumar, who will be the inaugural chair of the alliance, in an interview.
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Still, the geopolitical backdrop is complicated. In February, President Donald Trump and Prime Minister Narendra Modi launched the TRUST (Transforming the Relationship Utilizing Strategic Technology) initiative to deepen U.S.–India tech ties. 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.
“We find India as a particularly interesting market, not just for the opportunities that exist for new companies that get started in India, but also for companies in the U.S. that are seeking to expand into the Indian market,” Sriram Vishwanathan, founding managing partner at Celesta Capital, told TechCrunch.
Celesta Capital — an early backer of Indian startups such as space-tech venture Agnikul, drone maker IdeaForge, and AI-driven cancer diagnostics firm OneCell Diagnostics — spearheaded the effort after discussions with industry stakeholders and the Indian government.
“We have put this thing together to actually energize the ecosystem and bring like-minded investors together,” Vishwanathan said.
The alliance will focus on early-stage startups — from seed to Series B — while steering clear of late-stage investments, Vishwanathan noted. He also stated that the billion-dollar-plus commitment is just the beginning, as “any long journey starts with the first step.”
“You could expect more firms to join this alliance, both financial VC firms and private equity firms,” he said. “You should also expect corporates to join who have pretty significant investment programs.”
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.
“The alliance is just a platform for engaging with the government,” he told TechCrunch.
As a group, the investors in the alliance plan to engage with the Indian government on policy and incentives to advance private industry’s interests and act as a unified voice, Vishwanathan said.
In the past, regulatory changes rolled out without industry input have led to turmoil in India. Some such moves have drawn intense criticism from U.S. investors and were subsequently withdrawn following widespread outrage.
The alliance’s members will share information voluntarily and coordinate on pipeline development, due diligence and co-investment opportunities, the firms said.
An advisory committee, comprising representatives from Accel, Premji Invest, and Venture Catalysts, among the early participants, will help establish shared objectives and ensure coordination while preserving the independence of each fund.
Kumar stated that while he is the inaugural chair, the alliance’s leadership will rotate as it moves forward.
The alliance could prove a double-edged sword for Indian deep tech startups. While pooling long-term capital and giving a unified voice to the government appears to be a boon, there is risk if coordination falters, leaving promising companies caught in the gaps.
“Over the next decade, startups will build in India and export breakthrough solutions to the world. The tailwinds are in place: ambition, talent, policy intent, and patient capital,” said Accel partner Anand Daniel in a prepared statement.