Lokesh Choudhary · · 2 min read9Unicorns launches $200m fund, rebrands to 100Unicorns
100Unicorns co-founders (from left) Anil Jain, Gaurav Jain, Apoorva Ranjan Sharma, and Anuj Golecha / Photo credit: 9Unicorns
India-based 9Unicorns has launched its second fund, 100Unicorns Fund II, with a target of US$200 million and an additional US$100 million greenshoe option.
The early-stage accelerator fund also rebranded to 100Unicorns to signify growth in the country’s startup scene, which has produced 111 unicorns.
100Unicorns was founded in 2020 by Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain, and Gaurav Jain. It is backed by Venture Catalyst, a global startup accelerator.
To date, it has invested in over 140 startups in industries including fintech, edtech, Web3, and deeptech. Videoverse, Trunativ, and ZyppElectric are among the portfolio firms from its first fund.
In its initial funding stage, 100Unicorns typically offers investments ranging from US$300,000 to US$1 million per startup. However, the amount could increase to US$2 million in the later stages, with co-investors participating through its first fund.
The primary goal of the second fund is to support 200 Indian startups and “propel them to join the billion-dollar club over the next decade,” said Sharma.
100Unicorns is creating a platform similar to Y Combinator to help startups with funds and mentorship so they can graduate to the next level with a proper go-to-market strategy.
“We are building a platform where we can fund deals right from idea to series C,” Sharma said in a previous interview with Tech in Asia.
Editing by Miguel Cordon and Eileen C. Ang
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