The convergence of civilian R&D and defence requirements is creating a new class of category-defining companies. India's strategic position — bordered by two nuclear powers, with a large and modernizing military — makes this convergence particularly significant.
Why Dual-Use Is Different
Dual-use technologies are developed for civilian markets but carry inherent defence applications. Historically, this distinction was a liability — regulatory complexity, export restrictions, procurement uncertainty. Today, it is an asset.
The companies that win in dual-use are not defence contractors who learned to commercialize. They are technology companies that governments cannot afford to ignore.
India's Defence Acquisition Procedure, iDEX programme, and the push to reduce import dependence have created a procurement environment that actively rewards Indian deep-tech startups.
Our Thesis
We focus on three dual-use verticals: autonomous systems, secure communications, and advanced materials. Each has a large civilian TAM and a strategic defence application that provides pricing power and long-term contract stability.
The founders we back understand both sides of this equation. They build for markets, not for contracts.