Kunal Upadhyay (IIMA Ventures)
Overview
Kunal Upadhyay is a prominent entrepreneur and venture capitalist known for his significant contributions to the startup ecosystem in India. As a co-founder of IIMA Ventures and CIIE.CO (Centre for Innovation Incubation and Entrepreneurship), Upadhyay has been instrumental in nurturing startups across various technology sectors, including deep-tech, climate-tech, and cleantech. His career spans over 15 years, during which he has established and managed multiple venture funds such as Bharat Innovation Fund, Infuse Ventures, and the Bharat Inclusion Seed Fund.
Recent Developments
- 2025: Upadhyay continues to lead initiatives at CIIE.CO, which has become a prominent startup incubator and accelerator at IIM Ahmedabad. Under his leadership, CIIE.CO partnered with SIDBI to establish the SIDBI Accelerator Fund aimed at supporting DeepTech startups (source).
- 2024: He played a vital role in launching a DeepTech accelerator in collaboration with SIDBI and IIMA’s CIIE.CO, highlighting his ongoing commitment to fostering innovation in the Indian startup ecosystem (source).
- 2023: As a Senior Fund Manager at ADB Ventures, Upadhyay has been focusing on climate tech investments across South East Asia and South Asia, promoting sustainable and inclusive technological innovations (source).
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Kunal Upadhyay |
| Born | Not publicly available |
| Nationality | Indian |
| Occupation | Entrepreneur, Venture Capitalist |
| Known For | Co-founding IIMA Ventures, CIIE.CO |
| Education | MBA from IIM Ahmedabad, B.Tech from IIT Madras |
Early Life and Education
Kunal Upadhyay's foundational years were marked by academic excellence and a strong inclination towards technology and entrepreneurship. He completed his B.Tech from the prestigious Indian Institute of Technology, Madras, one of India's leading engineering institutes. Later, Upadhyay pursued an MBA from the Indian Institute of Management, Ahmedabad (IIM-A), where he cultivated a deep interest in innovation and startup culture (source).
Career and Notable Achievements
Kunal Upadhyay's career is a testament to his dedication to fostering innovation and entrepreneurship:
- 2007: Co-founded IIMA Ventures, initially known as CIIE, establishing India's first acceleration and seed-investing platform.
- 2011: Received the Chevening Scholarship to study at the London School of Economics.
- 2013: Founded Infuse Ventures, India’s first climate-tech and sustainability fund.
- 2016: Launched the Bharat Innovation Fund, focusing on deep-tech and inclusion tech (source).
- 2018: Awarded Economic Times' 40 Under Forty for his contributions to the startup ecosystem (source).
Current Work and Impact
Kunal Upadhyay is actively involved with ADB Ventures, where he is pioneering investments in climate-tech initiatives across Asia. His work at Bharat Innovation Fund supports early-stage startups focused on breakthrough innovations. His significant impact lies in creating platforms that support over a thousand startups, providing them mentorship, funding, and networking opportunities essential for their growth.
Conclusion
Kunal Upadhyay's journey from a promising student at IIT Madras and IIM Ahmedabad to a leading figure in the venture capital ecosystem exemplifies the potential of blending academic excellence with entrepreneurship. His pioneering efforts in establishing platforms like CIIE.CO and various venture funds have significantly impacted the startup landscape in India. As he continues to support ventures that address climate change, societal inclusion, and technological innovation, Upadhyay's contributions are poised to leave a lasting legacy in nurturing Indian entrepreneurship.