Behind this YC-like accelerator’s second fund

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If you look at the “about” section on our website, the very first line introduces us as “Tech in Asia (YC W15).” As someone who came from a non-tech, non-startup background, I remember being confused when I first saw it. What is YC? Why W15? Why is it so important that it’s up there next to the company’s name?

I’ve since come to learn about Y Combinator (YC) and how it drives the growth of startups around the world. I’ve also learned about other accelerators out there who are building on the model that YC created. Today, we’re taking a closer look at one of these accelerators.

Today we look at,

• The second fund of this YC-like accelerator in India
• Another NFT-based game that’s raised some cash
• Other newsy highlights such as Bank Negara Indonesia’s acquisition plans and 1337 Ventures’ latest fund

Premium summary

Building up more than nine unicorns

Image credit: Timmy Loen

India-based accelerator 9Unicorns is looking to set up a US$500 million fund in the latter half of 2022. It’s aimed at helping the young startups that are tackling the problems that the Indian market and the Indian diaspora currently face.

• It starts with an idea: With this fund, 9Unicorns is mostly focused on idea-stage startups, but it’ll also look for opportunities in late-stage companies as well.

• Quintuple it: This US$500 million fund would be 5x larger than 9Unicorns’ first fund, whose corpus stands at US$100 million. 9Unicorns is currently making investments from its initial fund and has firms such as Vedantu, Shiprocket, Melorra, Klub, GOQii, Chingari, and ReshaMandi in its portfolio.

• Similar, but different: Besides providing funding, 9Unicorns also offers 90 hours of mentorship over three months and across 40 sessions to startups in its portfolio. It aims to write bigger checks for idea-stage startups than Y Combinator does and wants to create a platform to help startups with funds and mentorship, so that they can thrive and graduate with a proper go-to-market strategy.

Read more: YC-like Indian accelerator eyes $500m second fund.

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