Fund of Funds — AcE
A programme by BIRAC (Biotechnology Industry Research Assistance Council)
BIRAC invests in SEBI-registered alternative investment funds, which in turn invest in biotech startups and SMEs.
At a glance
| Best for | SEBI-registered Category I and II alternative investment funds — startups reach it only through those funds |
|---|---|
| Stage | Early revenue – Growth |
| Cost | Free, takes equity |
About Fund of Funds — AcE
AcE — Accelerating Entrepreneurs — is a fund of funds, and it is worth understanding who it is actually for. BIRAC does not invest in startups here. It invests in SEBI-registered Category I and II Alternative Investment Funds, which commit to put twice BIRAC's committed amount into biotech startups and SMEs. As of August 2025 BIRAC reports 16 daughter funds and more than 102 biotech startups backed. Daughter funds named on the page include Indian Angel Network, Gujarat Venture Finance, Stakeboat Capital, Kitven Fund, Bharat Innovation Fund, Somerset Healthcare, Ankur Capital, Endiya, Rajasthan Venture Capital Fund, NABVENTURES, Ideaspring and Alkemi.
What you get
- If you are a startup: investment from one of the daughter funds, on that fund's own terms.
- If you are a fund: BIRAC capital alongside your own, across healthcare, life sciences, pharma, biopharma, med-tech, diagnostics, industrial biotech, agri-tech, bio-IT and services.
Who can apply
- SEBI-registered Category I and II Alternative Investment Funds. Preference goes to funds keen on the biotech sub-sectors above, that support startups and SMEs, that have achieved first close, that have a commitment from an institutional investor, and that have invested in biotech startups before.
- Startups do not apply here. Approach an AcE fund partner directly.
How to apply: a fund emails its application and supporting documents to the addresses on BIRAC's page, using the linked application form. Note that the only submission date printed on the page is long past and has not been refreshed, so confirm the current window with BIRAC before preparing anything.
Where to apply
Other BIRAC programmes
- BIG — Biotechnology Ignition GrantBIRAC's flagship grant for early-stage biotech startups, funding the work of taking an idea to proof of concept over up to 18 months.
- i4 — SBIRI and BIPPCost-shared grant funding for Indian companies and LLPs with in-house R&D, from early validation through to pre-commercialisation.
- PACE — Promoting Academic Research Conversion to EnterpriseGrant funding for academic institutions to take research to proof of concept, and for an industry partner to validate it.
- SITARE — Students Innovations for Translation & Advancement of Research ExplorationsAward grants for student biotech projects with commercial potential, plus residential ignition schools for undergraduates.
- E-YUVAFellowships and research grants for students and young researchers, hosted at E-YUVA Centres inside universities and institutes.
- BioNEST — Bioincubators Nurturing Entrepreneurship for Scaling TechnologiesBIRAC's scheme for funding bio-incubators — the network a biotech founder joins, though the application goes to the incubator, not to BIRAC.
- SEED FundBIRAC's first equity exposure for post-proof-of-concept biotech startups, deployed by partner BioNEST incubators.
- LEAP FundEquity for biotech startups moving from proof of concept to pilot and commercialisation, deployed by six partner incubators.
- SPARSH — Social Innovation Programme for ProductsFellowships and kick-start grants for biotech innovators working on affordable products for societal health. Currently between calls.
- Product Commercialization Program FundFunding for market launch and large-scale commercialisation of validated BIRAC-supported technologies. The call is currently closed.
- IP and Technology Management supportBIRAC's in-house IP cell offers patent searches, drafting and filing help, technology transfer and patent assistance funding to biotech startups, SMEs and academia.